The Cycle of the Gift: Family Wealth and Wisdom

Overview

Family giving is more than estate planning and tax accounting.As high-net-worth individuals have discovered, gifts, once given,take on a life of their own. It is not unusual for awell-intentioned gift to have a destructive influence on itsrecipient's life, or to give rise to feelings and responses thatcan undermine relationships, alienate family members, and, in themost extreme cases, tear families asunder.

This book is about giving well—ensuring that yourwealth will have the ...

See more details below
Other sellers (Hardcover)
  • All (10) from $19.99   
  • New (7) from $22.78   
  • Used (3) from $19.99   
The Cycle of the Gift: Family Wealth and Wisdom

Available on NOOK devices and apps  
  • NOOK Devices
  • Samsung Galaxy Tab 4 NOOK 7.0
  • Samsung Galaxy Tab 4 NOOK 10.1
  • NOOK HD Tablet
  • NOOK HD+ Tablet
  • NOOK eReaders
  • NOOK Color
  • NOOK Tablet
  • Tablet/Phone
  • NOOK for Windows 8 Tablet
  • NOOK for iOS
  • NOOK for Android
  • NOOK Kids for iPad
  • PC/Mac
  • NOOK for Windows 8
  • NOOK for PC
  • NOOK for Mac
  • NOOK for Web

Want a NOOK? Explore Now

NOOK Book (eBook)
$22.99
BN.com price
(Save 42%)$40.00 List Price

Overview

Family giving is more than estate planning and tax accounting.As high-net-worth individuals have discovered, gifts, once given,take on a life of their own. It is not unusual for awell-intentioned gift to have a destructive influence on itsrecipient's life, or to give rise to feelings and responses thatcan undermine relationships, alienate family members, and, in themost extreme cases, tear families asunder.

This book is about giving well—ensuring that yourwealth will have the most positive effects on the lives of itsrecipients and their families, as well as on your own life. As theauthors explain, giving, if handled correctly, offers a greatopportunity to gain deeper insight into recipients as individualsand their needs, and to come to a heightened awareness of your ownneeds and expectations. It can improve communication withinfamilies, strengthen bonds, and promote the well-being and growthof all involved. And, when done well, legacy giving, like a stonedropped into still water, can have a ripple effect that willcontinue to expand and grow in positive ways.

Drawing upon their unique talents and professional experiences,the authors combine profound insights into the psychological andspiritual aspects of giving with practical step-by-step advice onhow to do it well. For ease of understanding, they have focused onthree crucial dimensions of giving:

The Who of Giving—understanding the needs and expectationsof all of those most involved in family giving, especially therecipients and givers, including parents, grandparents, spouses,and trustees

The How of Giving—maintaining the delicate balance betweenmany givers' needs for control and the recipients' need forfreedom

The What and Why of Giving—knowing the gift optionsavailable to you—from money to business interests to valuesand rituals—including the authors' "family bank" concept, amodel that combines loans, trusts, and outright gifts and offers aframework and set of practices for long-term family growth

Read The Cycle of the Gift and learn how to tap the fullpower of legacy giving as a force for growing the material andspiritual well-being of your heirs, their families, and theircommunities.

Read More Show Less

Product Details

  • ISBN-13: 9781118487594
  • Publisher: Wiley
  • Publication date: 11/6/2012
  • Series: Bloomberg Series, #168
  • Edition number: 1
  • Pages: 192
  • Sales rank: 578,429
  • Product dimensions: 5.40 (w) x 8.60 (h) x 0.70 (d)

Meet the Author

James E. Hughes Jr., Esq., is a resident of Aspen,Colorado, and a retired attorney. Jay is the author of FamilyWealth: Keeping It in the Family, and of Family–TheCompact Among Generations, and numerous articles on familygovernance and wealth preservation as well as a series of"Reflections" which can be found on the Articles section of hiswebsite jamesehughes.com. He was the founder of a law partnershipin New York City and has spoken frequently at numerousinternational and domestic symposia. He is a member of variousphilanthropic boards and a member of the editorial boards ofvarious professional journals.

Dr. Susan E. Massenzio is a psychologist and foundingAssociate of Wise Counsel Research Associates, a think-tank andconsultancy. Susan has extensive experience consulting to seniorexecutives, leadership teams of Fortune 500 companies, and heads offamily businesses. Susan served for many years as the seniorpsychologist for John Hancock Financial Services, a senior vicepresident at Wells Fargo Family Wealth, and professor and programdirector at Northeastern University. Susan is a member of theCollaboration for Family Flourishing.

Dr. Keith Whitaker is an educator and founding Associatewith Wise Counsel Research Associates, a think-tank andconsultancy. Keith has many years' experience consulting withadvisors to and leaders of enterprising families. Keith served as amanaging director at Wells Fargo Family Wealth, where he foundedthe innovative Family Dynamics Practice. He has also served as aresearcher at the Center on Wealth and Philanthropy, a privatetrustee, a director of a private foundation, and a philosophyprofessor at Boston College.

Read More Show Less

Table of Contents

Preface xv

Acknowledgments xix

Introduction xxv

Chapter 1 The Elephant in the Room 1

Grandparents’ Checks 2

When Giving Becomes an Opportunity 4

Chapter 2 The Spirit of the Gift 7

Where the Spirit Leads 11

The Who of Giving

Chapter 3 Becoming a Wise Giver 17

Know Thyself 18

How Much? 21

Guilt and Remorse 24

Nothing Too Much 26

Chapter 4 Receiving Wisely 29

A Bad Investment? 30

The Psychological Stages of Giving 32

Giving and the Work Ethic 36

Not Yet 39

Meteors and Resilience 41

Investing in Recipients 44

Chapter 5 Spouses 47

Learning from Yourselves and Each Other 47

Three-Step Process 48

Blended Families 50

Prenuptial Discussions 51

Fiscal Unequals 54

Chapter 6 Grandparents 57

Grandparents’ Great Opportunity 57

Involving Parents 58

Grandparents and Philanthropy 61

Chapter 7 Trustees 67

The Choice of Trustee 67

The Type of Trustee 69

The Relationship between Beneficiary and Trustee 69

A Regenerative Role 74

Chapter 8 Elders 77

Intergenerational Dynamics 78

Growing Elders 79

The Work of Elders 81

The How of Giving

Chapter 9 Control versus Freedom 87

The Myth of the Free Gift 87

Cui Bono? 88

The Giving of Accounts 90

Letting Be 92

Chapter 10 Fair versus Equal, Separate versus Together97

The Balancing Act 98

Pot Shots 100

Flourishing 102

Promises 103

Chapter 11 Giving Outright, via Loans, or in Trust07

Options 108

Sharing the Spirit 108

Making Loans Work 109

Why Trusts? 110

The Family Bank 113

Form versus Function 115

The What and Why of Giving

Chapter 12 What Families Give 121

Homes 121

Business Interests 125

Values 131

Rituals 134

Reputation 136

Chapter 13 The Why of Giving 141

Why Not 142

The Family Tree 144

Giving Thanks 146

About the Authors 151

Index 155

Read More Show Less

Customer Reviews

Be the first to write a review
( 0 )
Rating Distribution

5 Star

(0)

4 Star

(0)

3 Star

(0)

2 Star

(0)

1 Star

(0)

Your Rating:

Your Name: Create a Pen Name or

Barnes & Noble.com Review Rules

Our reader reviews allow you to share your comments on titles you liked, or didn't, with others. By submitting an online review, you are representing to Barnes & Noble.com that all information contained in your review is original and accurate in all respects, and that the submission of such content by you and the posting of such content by Barnes & Noble.com does not and will not violate the rights of any third party. Please follow the rules below to help ensure that your review can be posted.

Reviews by Our Customers Under the Age of 13

We highly value and respect everyone's opinion concerning the titles we offer. However, we cannot allow persons under the age of 13 to have accounts at BN.com or to post customer reviews. Please see our Terms of Use for more details.

What to exclude from your review:

Please do not write about reviews, commentary, or information posted on the product page. If you see any errors in the information on the product page, please send us an email.

Reviews should not contain any of the following:

  • - HTML tags, profanity, obscenities, vulgarities, or comments that defame anyone
  • - Time-sensitive information such as tour dates, signings, lectures, etc.
  • - Single-word reviews. Other people will read your review to discover why you liked or didn't like the title. Be descriptive.
  • - Comments focusing on the author or that may ruin the ending for others
  • - Phone numbers, addresses, URLs
  • - Pricing and availability information or alternative ordering information
  • - Advertisements or commercial solicitation

Reminder:

  • - By submitting a review, you grant to Barnes & Noble.com and its sublicensees the royalty-free, perpetual, irrevocable right and license to use the review in accordance with the Barnes & Noble.com Terms of Use.
  • - Barnes & Noble.com reserves the right not to post any review -- particularly those that do not follow the terms and conditions of these Rules. Barnes & Noble.com also reserves the right to remove any review at any time without notice.
  • - See Terms of Use for other conditions and disclaimers.
Search for Products You'd Like to Recommend

Recommend other products that relate to your review. Just search for them below and share!

Create a Pen Name

Your Pen Name is your unique identity on BN.com. It will appear on the reviews you write and other website activities. Your Pen Name cannot be edited, changed or deleted once submitted.

 
Your Pen Name can be any combination of alphanumeric characters (plus - and _), and must be at least two characters long.

Continue Anonymously

    If you find inappropriate content, please report it to Barnes & Noble
    Why is this product inappropriate?
    Comments (optional)