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unHeritage – 11 Pitfalls to Family Legacy and How to Avoid Them
“unHeritage is definitely the lighthouse for protecting your family and wealth for generations. This book is a must read for anyone interested in legacy planning.” Enzo Calamo
Center for Family Conversations
The Center for Family Conversations (CFC) is a resource center that provides the integral tools and ideas in helping families establish a 100-year-plus Family Legacy Plan.
THE TYCOON PLAYBOOK – How Business Empires Are Built
The Tycoon Playbook course was created for business families who are already running a successful business and wish to ramp up their growth while preserving wealth for future generations. Specifically, the Playbook teaches high performance business owners the two most highly rewarded skills in business, namely deal-making and how to acquire cash flow producing business assets.
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To build a sustainable and positive family or business legacy, it is very important that the following key principles be incorporated into your dynastic planning process: 1) The entire family must be involved in planning and NOT just the wealth-holder or business owner. The goal for a successful multi-generational family/business legacy is to plan “with” your family and not “at” your family. 2) The agenda for each family or family business meeting must be open to include the needs and concerns of all family members who are affected by the financial, estate, business, or legacy plan. 3) Part of the common mission for each family and business plan should be the indisputable realization that family members are the real assets and NOT the money or business. 4) Communication expectations for everyone must be setup upfront. For example, Everyone has wisdom; We need everyone’s wisdom for the wisest results; All will hear and be heard; There are no wrong answers; The whole is greater than the sum of its parts. 5) The best legacy solution is one that considers the needs of future generations. A legacy plan should focus on the perspective of family wealth and the family business for at least the next seven generations. 6) A Family Constitution should be created to help with the Governance of the Legacy plan. The goal here is not to dictate the future to family members but to establish guidelines for dealing with conflicts, new opportunities, in-laws, extended family member dreams, and the future complexity involved with the growth of family members into the third generation onward. 7) Structures, and committees, must be put in place for dealing with, and implementing, the financial, estate, business, and legacy plans. Remember that a wealthy family or a profitable business cannot create a strong family but a united family with a common mission can build wealth and a sustainable and profitable family business.
/ Business Succession, Business Values, Children, Choices, Collaboration, Communication, Conversation, Entrepreneur, Family, Family Business, Family Business Dynamics, Family Farms, Family Values, Legacy Resources, Next Gen, Planning, Relationship Resources, Stewardship, Stories, Structure, Success, Wealth Resources
Enzo Calamo Is A Best Selling Author
Enzo Calamo is the Best Selling co-author of "How To Create Infinite Returns In Real Estate Using The Secret Asset: How To Recover All Business and Personal Expenses Using The Secret Asset" This is a must read for every affluent investor.
Enzo Calamo Is A Gold Award Curator
Scoop.it describes Enzo Calamo "as a rock star of content curation."
Lugen Family Office is the Most Trusted Online Curator on Legacy Planning, Wealth Management, Financial Literacy, Family Business, Philanthropy, Technology Trends, Healthy Living, and the UHNW.
ALL POSTS ARE CURATED BY ACTUAL EXPERTS!
Check out our 11 Gold Award UHNW Newswires.
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- PWC: Nearly one-third of Malaysia’s family businesses don’t have succession planJanuary 17, 2017
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Lugen Family Office Proudly Supports AIP
The International Association of Advisors in Philanthropy is the leading charitable giving organization in the world for inspiring collaboration among professionals.
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