“Growing up, I was aware that my grandfather was a great man.  My parents, particularly my father, seemed to be cut from the same cloth and share in the family’s success.  Heads of state and business leaders were frequent visitors to our home.  It was never said, but with the ... read more

“From shirtsleeves to shirtsleeves in three generations,” a well-known American proverb, encapsulates the tendency for family fortunes to be eroded quickly. Most languages have a similar version, indicating this is an innately human problem.For companies who make their business out of managing family wealth, trying to ... read more

After her parents passed on, Carolyn Friend carefully sorted through their personal effects as she cleaned out their home—a challenging task for anyone. Along the way, she began to recognize the value of missed conversations and moments never to be recaptured.

Carolyn and her husband, James Weiner, ... read more

Working in the capacity of a trusted advisor to a wealthy family presents many challenges, and perhaps none so difficult or pressing as communicating with the younger generation. As technology and fashions change, it often feels people from different generations are separated by insuperable barriers.

Meanwhile, wealth ... read more

Can a card game help you decide who gets grandma’s silver set and grandpa’s tackle box?  At least it can help to get the conversation going.

+ What cherished possession might your family fight over?

That’s one of the 52 questions in a deck of “Conversation Starters” cards put together by a ... read more

Q: How do you suggest advisors begin the legacy conversation with clients?

A: “Money creates complexity.”  Advisors who emphasize this with their clients create an open-ended invitation to clients to talk about their concerns.  It’s important not to be judgmental.  Often clients look at their own experiences and can’t understand why ... read more

On Sunday, November 14th at 8 am PST (10 am CST) “Mr. Dad” Armin Brott interviewed Dr. James Weiner of Inheriting Wisdom.

If you were not able to catch the show when aired, you can listen here.

Armin Brott, a nationally recognized parenting expert, is known worldwide as “Mr. Dad.” He is ... read more

For wealthy families, keeping stories and traditions alive is more than a matter of collective pride. It can also serve as a bridge across generations to safeguard values and fortunes alike.

This is especially true for large families that lack a central rallying point–a business, say, or a ... read more

For wealthy families, keeping stories and traditions alive is more than a matter of collective pride. It can also serve as a bridge across generations to safeguard values and fortunes alike.

This is especially true for large families that lack a central rallying point--a business, say, or a commitment to philanthropy. ... read more

Two Chicago psychologists have written a guidebook on how to manage family legacies.

Carolyn Friend and James Weiner, who are husband and wife, came to write the book after caring for their aging parents and realizing they hadn't had the meaningful conversations that would define their families.

It wasn't until ... read more

Carolyn Friend and James Weiner, co-founders of Chicago-based consulting firm Inheriting Wisdom, have released a book coined The Legacy Conversation: the missing gem in wealth planning. The book tackles the issue of advisors speaking with their wealthy families about leaving a lasting legacy, noted Friend and Weiner. "The industry is ... read more

Inadvertently, many wealth advisors short-change their obligations to the families they serve, glossing over a key component of wealth transfer – legacy planning. Many affluent families admit to less concern about who gets what than being troubled by how future generations will manage the money. Inheriting ... read more

The Legacy Conversation: The Missing Gem in Wealth Planning Argues that Legacy Planning Should Be the Engine of All Wealth Planning

Inadvertently, many wealth advisors short-change their obligations to the families they serve, glossing over a key component of wealth transfer - legacy planning.  Many affluent families admit to less concern ... read more

Many wealth advisors inadvertently short-change their obligations to the families they serve, glossing over a key component of wealth transfer—legacy planning, according to a new book authored by two psychologists.

Numerous affluent families, meanwhile, admit to less concern about who gets what than being troubled by how ... read more

Many wealth advisors inadvertently short-change their obligations to the families they serve, glossing over a key component of wealth transfer—legacy planning, according to a new book authored by two psychologists.

Numerous affluent families, meanwhile, admit to less concern about who gets what than being troubled by how future generations will manage ... read more

Many wealth advisors inadvertently short-change their obligations to the families they serve, glossing over a key component of wealth transfer—legacy planning, according to a new book authored by two psychologists.

Numerous affluent families, meanwhile, admit to less concern about who gets what than being troubled by how ... read more

Our lives are filled with beginnings and endings. Judaism orders the separation between the mundane and profane. It appears consistently in the liturgy. The change in seasons is recognized, as well as the changes from daytime and nighttime. We ask you to consider this secular New Year as an opportunity ... read more

Getting to deeper answers without making your client feel quizzed

Estate planners distinguish themselves as true trusted advisors---- by gaining the confidence of their clients and ultimately their clients' children. They know that to achieve this excellence they must do two things simultaneously. One, they need to assist their clients in ... read more

Enduring Vision or Armed Fortress

Distinguish yourself! It seems a safe assumption that the prediction made in a study by Boston College that the largest transfer of wealth in history, (some $41 trillion will be passed down within the next 50 years), will set the wealth management and estate planning worlds ... read more

As you consider your investments, you think about your financial wealth. You associate investing with vehicles that you can measure and track, such as stocks, bonds, real estate and insurance. Then, to increase the value, you engage the services of specialists in a given area.  The goal is to build ... read more

Graduations, marriages and births fill this season.  These are among a few of the transitions that many of you, or those close to you are experiencing today.  Each milestone requires you to change, to move your life ahead into the future.  With each step you take, you have choices to ... read more

When you think about the mark you want to leave on the world creating an intentional legacy is vital.  Beyond tangible assets, like money or personal property, your legacy also includes your wisdom.  As a role model, you bring others together and provide leadership, helping family and friends rally the ... read more

Today as you wait for the news and watch the financial markets, a sense of dread overshadows everything.  You wonder, what else has gone poorly.  You hear others talk about feelings of stress and anxiety.  As each media message reveals that fear is out maneuvering reason, others around you are ... read more