Family Fiduciary Secret #4:
Engage Your Children
One of the biggest barriers to successful multi-generational planning can be the way you start the conversation. In today’s secret you will learn:
Engaging the next generation of your family members in concert with their abilities and your vision is vital to the success of your family’s future.
Often when you invite family members, particularly children to a meeting, they think you’ve just given them a vote. And once you realize that, it’s controllable; so you can bring them in at your discretion in a way where you can show them what you’re doing because you want to educate them, but you’re also very clear about who is in charge.
This is a very subtle but very important concept to understand and to honor because it maintains the matriarchal and patriarchal seat of power, so to speak. And yet it engages the family at the level that you are ready for them to be engaged.
And then as they develop, what I have seen is that you actually want them involved because they start demonstrating responsibility. And as they demonstrate responsibility, you can give them a little more and a little more.
So one of the roles of the family office is to help that particular learning curve development.