Build your family bank : a winning vision for multigenerational wealth

With the insights provided by recent research, there's no better time than now to unlock thesecrets behind effective succession and wealthtransition. In this wise and accessible new book, author Emily Griffiths-Hamilton—a leadingexpert in the field—does just that. The path tosuccess, she argues persuasively, is the FamilyBank, a dynamic approach that any family, at anystage in its life cycle, can adopt.As a chartered accountant, an investmentadvisor, a successful business builder, and athird-generation inheritor herself, Griffiths-Hamilton is passionate about helping familiesto achieve successful multigenerational wealthtransition. Yet as she reveals, the failure rate forsuccession plans today is an astounding 70 percent.That, she says, is because the traditionalstarting point for wealth-transition planning—controlling financial assets and minimizing ordeferring taxes—gets the process backwards.The Family Bank approach, by contrast, paysclose attention to the human elements of afamily. Only once those are understood caneffective financial structures be developed tomeet the family's needs.In this book, you'll learn how to create yourown Family Bank, beginning with the solidfoundation of your family's shared values andvision. Griffiths-Hamilton explains how youcan assess all of your family's assets—human, intellectual, and financial—and prepare succeedinggenerations to steward those assetssuccessfully. As you implement the stages shesets out, you'll be crafting a succession andwealth-transition plan that truly meets theneeds of your family. The benefits of building aFamily Bank, as this book clearly shows, will gofar beyond any financial gifts you may leave toyour successors.