Wealth Transfer


08Jun 2008

The Foundation of Healthy Family Relationships: Consistent Time and Communication

Much of life is not magic or spectacular. As one of my friends says, “Life is daily.” And when we look at the goals so many of us have — to be healthy physically— in shape and not overweight; to be moving toward financial independence; to have healthy family relationships — in our marriage, with our children, and among our

06Mar 2008

Brothers and Business

There is an old saying, “It is good for brothers to get along”. And it is true. But one of the most frequent problems I see in my work is the challenge of brothers “getting along” in business. And the issue plays out in many different ways and settings: *Brothers who have been working together for years (and now are

21Jan 2008

The Price of Privilege

This week I have been gone five days for a series of business meetings. I am writing this as I travel home to be with my family. I have been reading, and have decided to review, a book entitled, The Price of Privilege by Madeline Levine. Dr. Levine is a psychologist who practices in the affluent area of Marin County,

21Oct 2007

The Dark Side of Wealth: Risks associated with growing up in an affluent family – Risk #3: Low self-esteem

The third theme I have observed in financially successful families is that many of their children and grandchildren struggle with poor self-esteem and low self-confidence.  Now let’s get this straight from the beginning — although I am a psychologist, I do not believe that feeling good about oneself is the goal of life (nor of parenting or education).  Self-esteem (that is,

13Oct 2007

The Dark Side of Wealth: Risks associated with growing up in an affluent family — Risk #2: No sense of direction or purpose in life

Following up last week’s entry on the risk of drug and alcohol abuse in wealthy families, the second risk from growing up in an affluent family I see among second- and third-generation family members is an overall sense of being “lost” in life. I frequently “interact with” individuals who have been raised in a wealthy environment, and they really don’t

07Oct 2007

The Dark Side of Wealth: Risks associated with growing up in an affluent family — Risk #1: Drug & Alcohol Abuse

I apologize to my friend, Thayer Willis, for borrowing from the title of her excellent book, Navigating the Dark Side of Wealth, for this entry, but I really couldn’t think of a better description of the topic. As I work with financially successful families across the country, I repeatedly see three negative patterns in family members. Most often (but not always)

25Aug 2007

Psychological and Perceptual Issues that Impact Investment Decisions: Part II

Two weeks ago I shared some thoughts from the very interesting book, Inside the Investor’s Brain, by Dr. Richard Peterson. Here are some more of his insights. Some of the initial parts (e.g. feelings) are fairly self-evident but are necessary foundations for later comments and conclusions. [reminder: page numbers are in parens] Feelings Feelings are the result of the comparison

10Aug 2007

How Psychological Factors & Emotional Intelligence Impact Investment Decision-Making

I’m on vacation this week — and when I’m on vacation (after the first few days of brainless activity), I dive in to books I have had in my reading pile for a while.  One of the books I brought, Inside the Investor’s Brain: The Power of Mind over Money by Richard Peterson, (published just this year) is quite interesting.  And I’d

13Jan 2007

Family Issues to Address in Transferring the Business to the Next Generation

In my working with a variety of family businesses, one of the key issues to address is to develop a succession plan for the ownership of the business. That is, who will own the business in the future (and when, and how will this occur)? Obviously, the current owners want to receive fair financial remuneration and they usually want to

12Dec 2006

Christmas Gift Giving Can Be Character Training

Believe it or not, your approach to buying and giving gifts for Christmas can have a significant impact in the character development of your children and grandchildren. For wealthier families, I believe the gift giving process can affect how well the wealth transfer process in your family goes in the future. (However, the principles are applicable no matter the financial

Copyright © 2019 Dr. Paul White // TriLion Studios | All Rights Reserved