Category: Family Legacy

Where to look for a successor – what if a family member is not interested? – my weekly perspective Score 0%

Where to look for a successor – what if a family member is not interested? – my weekly perspective

Not all family businesses are destined to remain within the family.  This is an unfortunate reality and the stats prove this fact out.  Only about 50% of family businesses remain within the family after the second generation and about 15% stay with the family after the third generation. Sobering statistics. Depending on the size of […]

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Financial literacy and your family – my weekly blog

We were all brought up uniquely with different values. This becomes apparent especially when money and wealth are involved. And this can become apparent in a relationship.  One of the leading reasons for separation and divorce is over money, often because in some families, it is a taboo subject, not to be discussed. Misunderstandings can […]

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Learning from mistakes – the succession journey, my weekly perspective

The journey through succession is unique and fraught with bumps. The goal is simple; ensure an orderly transition of your business, governance and wealth to the next generation(s). However, you can expect that due to personalities, communication styles and differing interests, you will encounter some challenges. This is normal. I liken the succession journey to […]

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Educate – financial literacy of our children. My weekly perspective

Do you have the responsibility to raise children (could now be adults) so that they are prepared to inherit wealth? A mere $ 42 trillion will be passing to the next generation in the next 20-30 years. If you do not take active steps to get them ready for the responsibility that wealth brings, then how will these children otherwise get prepared?  Many parents try to raise their children and share their values.  Do you as parents also talk about financial literacy?

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