Family: The Compact Among Generations

by James E. Hughes Jr.

Overview

Why do some families thrive for generations? What accounts for the sad deterioration that others experience? This book takes families and the professionals who serve them beyond the now widely accepted practices offered in Family Wealth and offers a view of Hughes's panoramic insights into what makes families flourish and fail. It lays out the basis for the vision of family governance the author has been developing through his work and research. His advice addresses not only what to do but how to think about the complex issues of family governance, growth, and stability and the ongoing challenge of nurturing the happiness of each family member.

Product Details

ISBN-13:	9781576600245
Publisher:	Wiley
Publication date:	08/01/2007
Series:	Bloomberg , #31
Edition description:	Illustrate
Pages:	352
Product dimensions:	5.60(w) x 8.30(h) x 1.30(d)

About the Author

JAMES E. HUGHES JR. is a sixth-generation counselor-at-law, now retired, and author of many influential articles on family governance and wealth preservation. He is renowned for facilitating multigenerational family meetings, with an emphasis on governance issues. Hughes is frequently called on to address international and domestic symposia on helping families to avoid the fate of the shirtsleeves-to-shirtsleeves proverb and to instead flourish through the growth of their human, intellectual, and financial capital. He also addresses these and other issues on his Web site at www.jamesehughes.com.

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Table of Contents

Preface ix

Acknowledgments xiii

Introduction xvii

Part One—Families of Affinity: Their Nature and Practices

1 A Family of Affinity 3

2 Defying a Proverb 13

3 Obstacles to Affinity: The Seven Paradoxes 21

4 The Physics of Affinity 31

Part Two—Defining the Journey

5 Essentials for Success 47

6 Happiness: Finding the Spiritual Path 61

7 Self-Actualization: Lessons from Psychology 81

8 The Evolution of Family 91

9 From Family to Tribe: The Emergence of Governance 101

Part Three—Principles of Family Governance

10 A System for Joint Decision Making 117

11 Participation and Commitment 129

12 Function and Structure 137

13 Change and Accommodation 147

Part Four—Family Leadership

14 Family as an Organization 157

15 Ensuring Dynamic Ownership 169

16 The Second Generation: Leadership’s Critical Stage 189

17 Women and Ownership 203

Part Five—Tools and Pathfinders

18 The Essentials for Learning 211

19 Educational Assessment Tools 221

20 The Personne de Confiance: Service Redefined 233

21 Roles and Characteristics of a Personne de Confiance 247

22 A Father’s Wisdom 265

Epilogue 283

Appendix: Recommended Reading 287

Index 309