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Living with financial wealth can seem to be as difficult as living without it:
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Individuals can fall out when the family is asset rich
and cash poor |
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those who own shares but do not receive dividends because of the ‘needs’ of the business can resent those working in the business and receiving an income |
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those working in the business and contributing to its success can resent the payment of dividends to those who aren’t |
Unfortunately there is not a utopian solution to these problems. There are ways, however, to eliminate or reduce the risk of unhappiness to the family or individuals.
How the family deals with wealth is an important issue and Families in Business can help to train family members to understand the responsibility of and the effective use of wealth. When family members choose to use some of their assets for philanthropic causes, in groups or as a family, we can assist in developing the strategy to achieve their goals and the sustainability across the generations
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