Preparing Heirs

by ;
Format: Hardcover
Pub. Date: 2003-01-01
Publisher(s): Robert Reed Pub
List Price: $29.95

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Summary

"Preparing Heirs" discloses the surprising findings from the authors' research into the legacies of 3,250 wealthy families. With extraordinary insight, they reveal what the relatively small number of successful families had in common-how they achieved and maintained family harmony, and ensured the smooth transition of their wealth to well-adjusted heirs. They also warn of the wide range of factors that cause the majority of wealthy families to fail in their transition. "Preparing Heirs" offers clear, concise, well-organized, and easy-to-follow instructions that will enable you to evaluate your plan for transitioning family wealth. "Preparing Heirs" is an assessment tool that can be used in conjunction with the services of qualified professionals such as attorneys and accountants. It addresses the major causes for the 70% failure rate in estate transitions, which lie within the family itself and are within the family's control. This book can help you develop a plan to transmit the family values underlying the accumulation of wealth and prepare your heirs to be good stewards and thoughtful administrators of that wealth.

Table of Contents

Introductionp. 1
The Future: Wealth Transfers During the Next 50 Yearsp. 5
The Uniform Worldwide Failure Rate for Wealth Transfersp. 15
The Underlying Causes of Failure in Estate Transitionsp. 25
Knowing What's Wrong vs. Doing What's Rightp. 51
The First Step: Assessing Your Wealth Transition Planp. 55
The Second Step: Taking Action on Plan Deficienciesp. 91
The Third Step: Preparing the Heirsp. 103
The Fourth Step: The Heir's Self-Preparation Responsibilitiesp. 135
The Fifth Step: Continuing Evaluation and Measurementp. 153
Closing Observations: Summaryp. 161
Tables, Charts, and Questionnaires
Wealth Transfer Forecastsp. 9
What Parents Worry About - Kids vs. Wealthp. 21
Causes of Failure--Pie Chartp. 49
Wealth Transition Checklist--10 Questionsp. 57
Sample Bar Chart--50-Question Checklistp. 85
Family Coach Selection Checklistp. 97
Heir Readiness Checklist--10 Questionsp. 112
Heir Self-Readiness Checklist--10 Questionsp. 138
Appendices
Research Background Summaryp. 167
Confidential "Mountain" Family Sample Reportp. 175
Sample Family Wealth Mission Statementsp. 179
Further Information-Books and Family Coachingp. 181
Table of Contents provided by Ingram. All Rights Reserved.

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