A typical middle class family in the United States has need for financial and legal advice but probably doesn’t need to form a family office. That family may engage the services of an accountant, an attorney, and a financial / investment advisor. It is likely the time spent by all of these advisors would not exceed 30 hours in any … Read More
What is a “Concern” in the context of Stewardship of Family Wealth
When we discuss stewardship of family wealth, the question often arises “so, this is all about tracking investments?” The answer is emphatically “no!” Rather, stewardship involves tracking the important legal and financial relationships that impact (or have the potential to impact) the family. When we boil down “important legal and financial relationship” to one word, the word we arrive at … Read More
Two paths to wealth transfer, which are you on?
The transfer of wealth from one generation to the next is a significant event. There are generally two paths that are taken. One is completely reactionary and the other is the result of careful, thoughtful planning and work. While it’s obvious that reactionary is the wrong path to take, in the super majority of cases it is in fact the … Read More
Is stewardship right for your burgeoning family office?
Once you see that your family’s wealth is complex in nature or is on its way to becoming complex with future events unfolding, it’s important to take an honest look at whether the practice of stewardship is a fit for your family wealth management. Start with a simple assessment Who has all the information concerning each legal and financial relationship … Read More
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