A family's wealth consists primarily of human capital, meaning, all of the individuals who make up the family, and intellectual capital, meaning, the sum of what each individual member knows, and consists only secondarily of its financial capital. ...
That compelling premise forms the core of Family WealthKeeping It in the Family.
This classic treatise has been updated and expanded to include new essays that challenge conventional notions of wealth and that offer guidelines for conserving family assets in the broadest sense: not for just one or two generations but for hundreds of yearsand not giving truth to the saying "shirtsleeves to shirtsleeves in three generations."
James Hughes, a prominent attorney and estate planner, teaches how successful long-term wealth preservation requires the creation and maintenance of a system of governance and joint decision making. Filled with inspiration and guidance, Family Wealth enunciates tested principles and practices for preserving wealth and keeping it in the family.