Philanthropy, Heirs & Values: How Successful Families are Using Philanthropy to Prepare Their Heirs for Post-transition Responsibilities

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Author's Choice Publishing, 2005 - Business & Economics - 165 pages
This first-of-a-kind book by Roy Williams and Vic Preisser of The Williams Group reveals the hidden power of philanthropy to prepare your heirs for wealth and responsibility. After interviewing 3,250 affluent families, and examining almost 100 family foundations, the authors disclose how successful families are using philanthropy to teach their heirs Values, develop their appreciation for focus on a specific Mission, and instill a sense of Accountability. In many cases, the use of philanthropy as a teaching tool by the family leaders determined whether or not the family remained unified-and financially successful-in their post-transition period. As in their prior groundbreaking book Preparing Heirs C 2003, the authors provide exercises, examples and checklists for each of five major age groups, beginning at age five. The book is easy to read and filled with specific guidance and examples. Viewing philanthropy as a tool to improve your odds of post-transition success adds a new benefit to the traditional rationale behind family foundations and family giving programs.
 

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Contents

Chapter 1 Introduction
1
Philanthropy in the USA
11
The Failure Rate of Estate Transitions
19
Failure Causes and Philanthropy
31
I
34
Age 5 to 10 Awakening Years
45
Age 11 to 15 Exploring Years
59
Age 16 to 20 Developing Years
79
Measuring the Readiness of Heirs
129
Summary and Conclusion
133
Appendix A Research91 Family Foundations
145
Appendix B The 70 Failure Rate Sources
149
Selecting A Family Coach
153
Comments on Mentoring Heirs
157
Appendix E Saving The Worlds Cats
161
Appendix F Resources of The Williams Group
165

Age 21 to 30 Applying Years
95
Beyond Age 30 Mentoring Years
111

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About the author (2005)

Roy Williams has spent nearly 40 years coaching successful families throughout the world. His earlier books, Preparing Your Family to Manage Wealth and For Love & Money, are widely used by estate planners, trust officers, and lawyers. Formerly the Secretary of Social Services and Secretary of Transportation for the State of Iowa, Vic Preisser is a successful entrepreneur and has served in senior executive capacities with Fortune 500 companies.

Vic Preisser brings 40 years of experience in business, government and education to his partnership with Roy. A successful senior executive for Fortune 500 companies, he has also served at the State Cabinet level, and at The White House. Formerly the Resident Professor of Management, and Director of the Family Business Institute for the University of the Pacific, he is a successful entrepreneur who focuses, within The Williams Group, on mentoring individuals of promise. Vics Stanford MBA helps him communicate with business-oriented affluent clients and their heirs.

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