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Legacy and purpose

Wealth transfer to future generations

Situation

One part of a very wealthy family sold their shares in the family business. No longer linked with the company and with vast financial wealth at their disposal, the question was what to do next.

The family brought in a family advisor to help them draw up a constitution and form a trust. But within a year, conflict was emerging.

Why? And what’s the way forward?

Approach

  • Conducted one-to-one sessions with family members from two generations. These included individual values sessions and an in-depth understanding of their story, aspirations and hurts.
  • By mapping their stories, a pattern emerged along with a golden thread that united them. For instance, the three grandsons of the founder were all very close to their grandfather, and each one was driven by his mantra ‘only the best will do’. The only thing is they didn’t know they each held this as their north star.
  • We also identified their inner gremlins – old hurts that were impacting family dynamics.
  • With a deeper understanding of themselves and what mattered to them as individuals and as a family, they were set up to create a more personalised path ahead, one where wealth united them, not ripped them apart.

Why it matters

They say actions speak louder than words. In this case, while all family members agreed on the initial structure of the trust, their actions highlighted the set-up was not suitable for them. Fortunately for them, they realised wealth is more than money. For this family, wealth is about bonds, impact and legacy.

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