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How can you improve your heirs’ odds of post-transition success? The hidden power of philanthropy to prepare heirs for wealth and responsibility is revealed in this first-of-a-kind book by Roy Williams and Vic Preisser. After interviewing 3,250 affluent families, and examining almost 100 family foundations, the authors disclose how successful families are using philanthropy to teach. The children learn Values,develop their appreciation for focus on a specific Mission, and are instilled with a sense of Accountability. In many cases, the family leadership’s use of philanthropy as a teaching tool determined whether or not the family remained unified (and financially successful) in their post-transition period.
As in their prior groundbreaking book “Preparing Heirs” the authors provide exercises, examples and checklists for each of 5 major age groups. Filled with specific guidance and actual experiences, the book is an easy read. Viewing philanthropy as a tool to “Improve your odds of post-transition success” adds a new benefit to the traditional rationale behind family foundations and family giving programs.