Family Wealth: — Keeping It in the Family — How Family Members and Their Advisers Preserve Human, Intellectual, and Financial Assets for Generations, Revised and Expanded Edition

Family Wealth: — Keeping It in the Family — How Family Members and Their Advisers Preserve Human, Intellectual, and Financial Assets for Generations, Revised and Expanded Edition

Released May 2004
Publisher(s): Wiley
ISBN: 9781576601518

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Book description

This is the landmark book that changed the way exceptional families think about their heritage, their wealth, and their legacy to future generations - now revised and expanded. Charles W. Collier, Senior Philanthropic Adviser at Harvard University, hails this as, "A masterpiece. No one is more astute than Jay Hughes about the topics of family wealth and family life."

Table of contents

  1. Copyright
  2. Preface
  3. Acknowledgments
  4. Introduction
  5. I. My Philosophy
    1. 1. Long-Term Wealth Preservation as a Question of Family Governance
      1. 1.1. I. The Question
      2. 1.2. II. The Problem
      3. 1.3. III. The Theory
      4. 1.4. IV. The Solution
      5. 1.5. V. The Practice
      6. 1.6. Chapter Notes
  6. II. Family Practices
    1. 2. The Family Mission Statement
    2. 3. Ritual
      1. 3.1. Chapter Notes
    3. 4. The Family Balance Sheet and Family Income Statement
      1. 4.1. The Family Balance Sheet
      2. 4.2. The Income Statement
    4. 5. Investor Allocation
      1. 5.1. Chapter Notes
    5. 6. Two Important Practices
      1. 6.1. Hat Work
      2. 6.2. Grandchild/Grandparent Philanthropy
      3. 6.3. Chapter Notes
    6. 7. The Family Bank
    7. 8. Protectors, Advisers, Mentors, and Hommes d'Affaires
      1. 8.1. Protectors
      2. 8.2. Advisers
      3. 8.3. Mentors
      4. 8.4. Hommes d'Affaires
      5. 8.5. Chapter Notes
  7. III. Roles and Responsibilities
    1. 9. Control Without Ownership
    2. 10. Beneficiaries
      1. 10.1. Chapter Notes
    3. 11. Trustees
      1. 11.1. Administration of the Trust
      2. 11.2. Investment of the Trust
      3. 11.3. Distribution of the Trust
      4. 11.4. Chapter Notes
    4. 12. Family Philanthropy
      1. 12.1. Chapter Notes
    5. 13. Evaluating the Next Generation
      1. 13.1. Chapter Notes
    6. 14. Peer Review
    7. 15. The Private Trust Company
      1. 15.1. Chapter Notes
  8. IV. Reflections
    1. 16. The Role of Aunts and Uncles
    2. 17. The Art and Practice of Mentorship
      1. 17.1. What Mentorship Is Not
      2. 17.2. The Six Functions of a Mentor
      3. 17.3. In Closing
      4. 17.4. Chapter Notes
    3. 18. The Role of Elders
      1. 18.1. Chapter Notes
    4. 19. The Trustee as Mentor
      1. 19.1. In Conclusion
      2. 19.2. Chapter Notes
    5. 20. The Trustee as Regent
    6. 21. Unexpected Consequences of a Perpetual Trust
      1. 21.1. The Law of Unexpected Consequences
      2. 21.2. Society and the Perpetual Trust
      3. 21.3. The Law of Entropy
      4. 21.4. Chapter Notes
  9. EPILOGUE
  10. Bibliography
  11. About the Author
  12. About Bloomberg

Product information

  • Title: Family Wealth: — Keeping It in the Family — How Family Members and Their Advisers Preserve Human, Intellectual, and Financial Assets for Generations, Revised and Expanded Edition
  • Author(s):
  • Release date: May 2004
  • Publisher(s): Wiley
  • ISBN: 9781576601518