October 6, 2020, GEM 23—Many successful family businesses use mentorship programs to engage younger generations and overcome some of the challenges associated with inter-generational succession. In addition, effective mentoring may help reinforce a shared vision and company values across generations. Family Legacy Coordinator Libby Turner discusses how effective mentoring can help pave the way for a successful business transition to the next generation.
July 28—Creating strong communication practices within your family is an important component of legacy planning, and even more important during challenging times.
This article reprint was published in Wealth Counsel Quarterly and discusses college education funding alternatives. When the older generation of a family wants to make a positive difference in the lives of the younger generations, providing funds for their education is often seen as a way of leaving them with a lasting legacy. However, the cost of education is rising precipitously.
