Lessons in Legacy, Chapter One: The Legacy landscape - Flipbook - Page 31
Chapter Two: Defining our legacy
In chapter two we will pick up on how best to tackle the ‘wealth conversation’ and
transfer of wealth, and how to plan for and structure succession and a lasting
legacy, drawing from insight across the firm. We will also share the perspectives
of a range of experts – from those at the head of families dealing with these
issues right now, to the thoughts of leading academics in the field.
Chapter Three: The legacy framework
In chapter three, we will explore the role of governance in securing a sustainable
legacy with thoughts from experts across the firm and in our family business
networks. Here we will touch upon the difficult challenge of encapsulating the
owner’s ‘magic’ in ways that are tangible and transferrable; how the broad principles
of governance can be vital to family businesses in owning, managing and passing
on assets; and how governance can also be a useful context in which to broach
sometimes ‘taboo’ subjects linked to succession and wealth transfer.
Chapter Four: Philanthropy and sustainability
In chapter four we will examine the rise of charitable giving to ESG causes, the
blurring lines between philanthropy and investment and the rise of impact investing.
Here we will touch on our latest data around the number of families choosing to
establish charitable foundations and the important role it plays in connection with
families in defining their legacy.
With Lessons in Legacy, we have set out to highlight the changing attitudes to
towards legacy and succession. Philanthropy, entrepreneurship, pandemic
disease, conflict and climate change all feed into conversations that a succeeding
generation may view differently to the last. Our clients need to plan for wealth
transfer in this complex context, which means keeping the structures and policies
that govern their affairs under review, ensuring they are fit for any altered purpose.
At 300 years of age, this is why we are still looking forward - our clients are too.
LESSONS IN LEGACY