Lots of Areas to Work on Together
One of the reasons why working with families on intergenerational transitions is so complex (and so interesting!) is that there are many transitions, or transmissions, that need to take place.
They run kind of in parallel and sometimes in series, and they overlap in many ways too.
We’ll delve into this idea, inspired by a recent article that happened to focus on how artificial intelligence is affecting these challenges.
So, we’ll be looking at wealth, values, authority and identity and how families want to make sure that all of them trickle down the family tree.
Historically, families have sought to transmit four things across generations: wealth, values, authority, and identity.
Followed by:
Artificial intelligence may introduce a fifth inheritance: judgment.
At A Glance
The Five Inheritances
Tap each card to reveal what’s being transmitted.
+Inheritance IWealth
“There’s always a great deal of attention (too much!) paid to the wealth, especially the financial component.”
+Inheritance IIValues
“The importance of transitioning family values from one generation to the next.”
+Inheritance IIIAuthority
“Transmitting authority in a family is naturally difficult in many cases simply due to math.”
+Inheritance IVIdentity
“Maintaining a singular identity over numerous households takes more work than most families are willing to undertake.”
+The Fifth — Inheritance VJudgment (or Wisdom)
“Artificial intelligence may introduce a fifth inheritance: judgment. She uses the word judgment, and I like to equate that with wisdom.”
Keep reading
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