Wealth of Wisdom Enhancing Family Wealth Conversations
6 snips
Jan 14, 2025 
Keith Whitaker, co-author of ‘Wealth of Wisdom’ and head of Wise Counsel Research, shares his expertise on enhancing family wealth conversations. He highlights the five dimensions of 'family capital'—human, legacy, relational, structural, and social—offering tools for effective legacy planning. Key discussions include strategies for sensitive family topics like prenuptial agreements and establishing ground rules for constructive family meetings. Keith emphasizes the significance of emotional aspects alongside finances, advocating for balanced wealth management and stronger family dynamics.
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Assessing Family Needs
- Assess your family's true needs with the family balance sheet assessment.
- This inventory identifies strengths and weaknesses in your family's qualitative capital.
Five Capitals
- Qualitative capital has five parts: human, legacy, relational, structural, and social.
- These are key for families to assess and develop for long-term success.
Assessment Mechanics
- Families can use the assessment individually or collectively.
- Wise Counsel Research uses a more sophisticated version in their practice with individual and family reports.
