In a recent article titled, 17 Celebs Who Won’t Leave Their Kids An Inheritance, celebs like Bill Gates, Jackie Chan, Sting, Marie Osmond, and Laurene Powell Jobs all said they will not leave an inheritance for their children. For example: “It’s not a favor to kids to have them have huge sums of wealth.
Read more
After delivering the morning keynote at Invesco’s Investment Symposium today, my O’hare-bound Uber drove past the Intercontinental Hotel, which flashed a memory from my past. Twenty years ago, I attended a family foundation conference at that hotel. I laughed to myself, thinking the name tag I wore that week should have read “Help me. I’m
Read more
In an article published by Legacy Capitals titled, Engaging Families in Philanthropy 3.0, we write: When people think of philanthropy, they typically envision affluent people writing large checks to nonprofit organizations, but the true scope of philanthropy has far greater impact and complexity. Etymologically, the word philanthropy refers to the love of humanity or promoting
Read more
In chapter five of my book Legacy, I address the question that is on the hearts and minds of parents, especially parents of financially successful families, and that is: How do I prepare my children for the opportunity and responsibility of wealth? I addressed this question in a prior blog titled: 4 Parenting Tips for
Read more
Recently I met with a family that instituted a family philanthropy practice based on the business book, The Go-Giver. If you haven’t read The Go-Giver, it is based on the “trade secret” of ”The Law of Value – your true worth is determined by how much more you give in value than you take in payment.”
Read more
