In it for the Long Haul
"100 years and beyond" describes this in Family Enterprise planning.
What is a Planning Horizon?
What is a wealth preservation timeline?
The title of this action thriller and its 7 sequels.
What is Mission Impossible?
This board is used for displaying and serving cheese, meats, fruits and snacks for entertaining
What is a charcuterie board?
Failed trustee/beneficiary relationships are most frequently caused by the beneficiary's lack of this.
What is Education?
Every Family Mission Statement should include the family's responsibility to the outside world , also known as this P word
What is Philanthropy?
A phrase describing how wealth evaporates in three generations.
What is Shirtsleeves to Shirtsleeves?
What is Clogs to Clogs?
The document describing our vision, values, purpose, vision.
What is a Mission Statement?
Every backyard with a Rottweiler better have about 250 of these.
What are fence boards?
Unless a Trustee accepts this role in their relationship with the beneficiary the trust may never achieve the success a grantor had hoped for
What is a Mentor?
Philanthropic giving is a great training ground for this generation to experience the introduction of family values, cooperation, and decision-making
What is Gen 3?
The two primary types of capital that Hughes places above other forms.
What are Human and Intellectual Capital?
The things a family needs to disclose to each other before becoming a high-functioning family unit.
What are its secrets?
The way John and I describe our rigid, inflexible bodies to the physiotherapist or chiropractor.
What is "Stiff as a Board"?
This three word title of Chapter 9 describes the concept of surrendering your financial capital while still having a voice in its deployment.
What is "Control without Ownership"
Houses have these, and families sometimes form these with the intent of encouraging philanthropy over generations.
What is a Family Foundation?
The tales, both written and unwritten, that sew a family's generations together.
What are a family's unique stories?
A helpful step when creating a Mission Statement is for each family member to write down 10 of these.
What are Family Values?
Where released convicts check in once a month.
What is a Parole Board?
To avoid the action of entropy on trusts, Hughes' recommends this concept in Chapter 14, to ensure Trustees are performing their duties with excellence.
What is Peer Review?
Hughes believes this type of capital is key to the use of philanthropy as a tool for long-term family wealth preservation
What is Human Capital?
These systems, structures and decision-making processes, that together, form this for the Family Enterprise.
What is Governance?
Hugh says a Mission Statement is an expression of these 4 things.
What are Purpose, Vision, Values, and Goals
A non-metallic chemical element used to reduce weigh in modern surfboards.
What is Carbon?
A Trust is essentially a period of this, because it represents a time during which full ownership of property is suspended.
What is Regency?
This 5 syllable "P" word refers to the emission of light, typically by organisms such as bacteria, insects or through phosphorescent materials.
What is Photogenesis?