Family Wealth, James E. Hughes
Family Wealth, James E. Hughes
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Family Wealth
Keeping It in the Family--How Family Members and Their Advisers Preserve Human, Intellectual, and Financial Assets for Generations

Author: James E. Hughes

Narrator: L J Ganser

Unabridged: 7 hr 35 min

Format: Digital Audiobook Download

Publisher: Ascent Audio

Published: 07/20/2020


Synopsis

Every family hopes to confer advantages that are more than just material and financial—to inculcate character and leadership, to inspire creativity and enterprise, to help all family members find and follow their individual callings, and to avoid the financial dependency and loss of initiative that can all too often be an unwanted consequence of financial success. Yet many families never succeed in realizing that vision, much less sustaining it for three, four, or five generations and beyond.

James Hughes's teachings synthesize insights from psychology, anthropology, political history, philosophy, economic theory, and the law. His ideas have been taken up by numerous exceptional families, by their advisers, and by scores of authors, practitioners, and academics who have found value in the methods he pioneered.

The first edition of this book became a word-of-mouth classic. Now, Hughes has updated and substantially expanded it with new chapters that challenge conventional notions of wealth and offer guidelines for conserving family assets in the broadest senses. Filled with tested principles and practices for family governance and joint decision making, it is a rich source of workable wisdom that family members can put into practice today, to the enduring benefit and gratitude of future generations.

Reviews

Goodreads review by Bruce on July 16, 2012

Thoughtful, practical and well structured. A comprehensive guide to building real wealth - not just money; but human capital (people), intellectual capital (ideas) as well as financial capital. No hype, just sensible and well reasoned principles. It's designed for a US market, but the concepts are e......more

Goodreads review by Cassandra L. on June 23, 2019

I read this book for work so it was not a pleasure read but it was very informative and gave me a lot of good thinking points to incorporate into my legal practice. I would only recommend reading if you are an attorney, a trustee, a grantor, or the beneficiary of a trust. It’s not an easy read and s......more

Goodreads review by Terry on May 09, 2013

It is rare that I read consecutively two books on precisely the same narrow subject. But I did....and I have the same feeling about Family Wealth as I did about Family Fortunes. The book was well written; however, little of it applied to families with limited wealth accumulation. Both books went a l......more

Goodreads review by Cody on March 20, 2022

Very interesting perspective on what it takes to sustain family wealth over multiple generations. Hughes skips the typical planners "up and to the right" compound growth charts and focuses on the human elements required to actually make wealth last beyond three generations (citing the "shirtsleeves......more

Goodreads review by Richard on November 04, 2014

I particularly appreciate how this book viewed family wealth beyond just financial assets, including what the author considered the most valuable family assets - human & intellectual. I would consider this a must read for anyone considering establishing a long-term trust to provide resources support......more