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Family Connection Session I: Fostering Interdependent Generative Families for Long-term Sustainability

Interdependence is a key ingredient in sustaining families – and wealth – over generations. Today’s families frequently encourage individual independence to the point of family members becoming separated and estranged. The role of interdependence as an element of sustaining families is illustrated in Dennis Jaffe’s study of families that have sustained or expanded their wealth for more than 100 years. Jaffe calls these families “generative families” for some of the common characteristics they demonstrate. They include vitality, creativity, and the ability to continually reinvent themselves over generations. While generative families all have individual performers, they have a shared commitment to working together. The panel, with the audience’s participation, will explore: 1) How one family navigated the treacherous waters of selling a family enterprise and then creating a Family Office, all while maintaining family cohesiveness. 2) How an advisor can structure a plan to support the Family’s Purpose and then endow a multigenerational process of success.