Over the years, many affluent families have asked for advice about how to plan for the complexities and issues that accompany wealth. Most often, the questions are not centered on investment management and tax planning, but are about how to be effective stewards of family wealth, how to create a plan and how to make prudent decisions for the long term. At the same time, these families wish to avoid the unforeseeable issues that become the source of conflicts, even in the most financially mature families.
Our family education initiatives—the Tolleson Family Education Program and the Tolleson Family Education Journal—were developed in response to these questions in order to help families have the framework and the real world, practical tools to address the issues and concerns and achieve the balance they seek.
The goal of family education is to equip affluent families with the strategies other families have used successfully to anticipate and address the complexities they themselves have faced.
Ongoing Education for Families
Our advisors are trained to work with family members directly on a variety of difficult issues (can be with or without other, outside professionals):
- Improving family communication between generations, and facilitating family discussions
- Dealing with over-spending family members
- Addressing addiction issues by connecting family members with appropriate external resources
- Training to improve financial management skills and referrals to outside training programs
- Working with younger family members on career searches, plans to start new businesses, etc
- Working with elder care issues (often by connecting them to outside resources)
- Help with marital agreements (before or after marriage)
- Facilitating family meetings – whether they are recurring or Ad-hoc meetings scheduled to address specific topics like estate planning or philanthropy
- Family governance discussions in a family with a closely-held business or with just financial assets
- We’ve also developed a strong network of professionals to assist our families with more difficult issues – elder care legal issues, geriatric care, family law matters, substance abuse, etc.
Tolleson Family Education Program
The goal of these programs is to bring in thought leaders on topics that are specific to families of wealth. Programs are normally offered in smaller groups with significant opportunities to interact with speakers or with other participants.