Enabling Next Generation Legacies

"The next generation is our future."Answering the most pressing thirty-five questions of Next Generation members in a short and concise, yet competent way-leading academics, practitioners, and enterprising families come together to empower Next Generation legacies. Masterfully detangling the intricate dynamics of the family, ownership, business, and wealth, the authors share best practices, real-life examples, and critical questions for reflection. Part 1: FamilyDefining family · Managing family dynamics · Dealing with conflicts · Family communication · Preparing generational transitions · Keeping the family unitedPart 2: OwnershipResponsibilities and rights · Preparation of future owners · Dealing with non-active owners · Ownership transfers · Board expectations and roles · Owner networksPart 3: BusinessPreparing business entry · Working with nonfamily executives · Hiring family members · Promoting family members · Letting go of family members · Engaging family business consultantsPart 4: WealthDealing with wealth · Pursuing a vocation outside of the family enterprise · Leaving the family enterprise · Selling the family business · Starting a family office · Pursuing philanthropy and impact investingEnabling Next Generation Legacies is a powerful guide for Next Generation members and their families to ask better questions, make better decisions, live better lives, and build stronger legacies.