Broker Check

Family Dynamics & Governance

Generationally wealthy families often have planning needs that go beyond investing and taxes. In fact, preserving family values and stories, preparing rising generations for the unique opportunities and challenges that await them, and formalizing roles and systems within the family often take priority when it comes to ensuring a family’s legacy and unlocking the true potential of their wealth. 

Research by The Williams Group suggests that 90% of family wealth is lost by the end of the 3rd generation.1  This same study concluded that 60% of this failure to successfully transition family wealth was due to the breakdown in communication and trust within the family and that 25% was attributable to heirs not being adequately prepared for their situation. Our family dynamics and governance planning serves this human side of wealth and includes:

  • Family genograms/family mapping
  • Family mission statements, family values statements, and family charters/constitutions
  • Family meetings
  • Family education opportunities

The Liles Group’s family dynamics and governance planning capabilities are further supported by a dedicated team of attorneys and tax & estate planning specialists. We regularly consult with our Advanced Planning Team for assistance with technical matters and for help creating tailored solutions for our clients’ most challenging problems. We also engage several resources outside the firm for this discipline.





1Source: Research study by Roy Williams and Vic Preisser, The Williams Group, 2002, as cited in Preparing Heirs: Five Steps to a Successful Transition of Family Wealth and Values, Roy Williams and Vic Preisser, 2011.