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Families of Wealth
The impact of significant money on ultra- and high-net-worth-individuals and families can be particularly complex as the history of wealth and money brings with them a unique set of issues that affect almost every aspect of a family’s life from generation to generation.
Ginni Galicinao answers the nagging question about why it is so complex. Money is the great magnifier of all that is great and challenging. When multiple members and various branches of a family share ownership in a family’s financial and tangible assets, how they learn to make decisions together as adults becomes paramount to the future and sustainability of the family.
Families of Wealth
The impact of significant money on ultra- and high-net-worth-individuals and families can be particularly complex as the history of wealth and money brings with them a unique set of issues that affect almost every aspect of a family’s life…from generation to generation.
Why is it so complex? Money is the great magnifier of all that is great and all that is challenging. When multiple members and various branches of a family share ownership in a family’s financial and tangible assets, how a family learns to make decisions together as adults becomes paramount to the future and sustainability of the family.
communication family love integrity friendship identity self-expression growthcommunication family love integrity friendship identity self-expression growth
The Inheritance Conversation
Dynamics of Family Wealth helps clear up the misconception that parents have to reveal all or nothing to their children. There is so much more for families to explore and learn together before the semi or big reveal.
Assimilating children to the concept of family wealth is a process which starts at a very young age (more on that later). For young adults, education begins with helping them understand who they are as individuals and members of a family of wealth. And, most importantly, the conversation begins when they become an integral part of a transparent and authentic process of working together as a family of adults.
The Family Culture Dynamic
Working with families to unveil their family culture is one of Ginni Galicinao’s first steps. Family culture is a multi-layered process that investigates culture as a familial group, as individuals of the family, and spouses that marry into the family.
Cultivating clear communication, resolving conflict, addressing power struggles, and clearing confusion around individual and family identities are key to bringing a family’s culture into alignment.