Keys to Keeping Family Wealth -- Tougher to Maintain
The Commercial Appeal (2007-Current) › October 31, 2011
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Summary
The history of family wealth in America is filled with examples of the accumulation of vast sums of financial capital by a single visionary entrepreneur - wealth that lasts one or two generations before being exhausted during the third.
The near certainty of this "shirtsleeves to shirtsleeves" financial prophecy is so compelling in contemporary times, when reversals of fortune appear to be governed by forces beyond the control of individual families, that few dare to entertain the possibility of creating and maintaining family wealth that lasts through four or more generations.See the full content of this document
Extract
Keys to Keeping Family Wealth -- Tougher to Maintain
Yet three financial visionaries who have carefully examined the record of success and failure by some of the country's wealthiest families make a powerful case for the possibility of both maintaining and growing family wealth in perpetuity.
As an attorney who has counseled many of the world's wealthiest families, James E. Hughes Jr. has devoted his career to exploding the myths that surround the subject of wealth creation and growth across genera...See the full content of this document
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