Families are perhaps the most complicated organizations in the world, and when you add money to the mix, the problems can become even more complex. The myriad of relationships within families can create tangled webs of conflict. Unlike traditional therapy, we design a very unique and intense family workshop that will change your life. It’s tailor made to meet your specific needs in order to address and resolve the problems from these various relationships. When families work with us, the result is more family harmony and success. Families benefit from the support, cooperation and unity which, in turn, helps preserve wealth and prosperity for generations to come.
A 70 % failure rate for the transfer of wealth in affluent families is a staggering statistic. It begs the question, “Why? How could this happen?” Most families have platoons of competent family attorneys, asset managers, advisors and planners. And they are very good at what they do. (In fact, only 3% of failure is due to poor financial or legal advice.) This is not where we find the problems. They lie on the “people end” of the spectrum — in the sibling squabbles, jealousy and competition, relationship conflicts and catastrophic impacts of divorce, addiction and other emotional problems that can damage — beyond repair — the family’s ability to flourish in the future. (The cause for 60% of the 70% failure rate stems from the family’s lack of trust and communication skills to have the difficult conversations and discussions. *See 1)
The most effective family planning is like a three-pronged fork: the money (the estate and asset management), the structure (the system of governance and succession planning), and the people (the difficult relationships, unhealthy family dynamics and negative emotional issues that are common in families). Often it’s the people part that’s left unattended, and that’s unfortunate. You can correct an estate plan, but think of the catastrophic effect of a divorce, the chaos and emotional drain of an addiction, or the unraveling effect of a sibling dispute! Having the help of an outside professional can be a Godsend.
Most families want to have harmony and a cohesive family unit. They want to spend time together, have fun together, and enjoy one another. But they don’t know how to get there. Affluence can even deter rather than facilitate attaining harmony. Families realize that their money brings options, opportunities and freedoms, but it doesn’t necessarily bring happiness. We realize that building and maintaining agreement on family visions and goals must be a top priority for successful families. We help by removing the barriers to achieving this kind of family cohesion.
Some families are in crisis — an impending divorce, the death of a family member, an addiction that has exhausted the family, a sibling conflict that has come to a head. Other families have ongoing problems that they can’t resolve, but now those problems have gotten in the way of making good decisions and keeping the family together. Still other families are functioning pretty well, so they decide it’s a good time for education and prevention — to gain insights into small concerns and learn tools to prevent them from growing into serious problems. We meet every family where they are and work with them to find solutions to ensure that they reach their goals.
1. Preparing Heirs; Williams, Roy and Preisser, Vic; Robert Reed Publishers (2010), p. 36
For consultation or further information, please call
Edgell at 970-948-1415 or Thomas at 303-518-3520