Services For
Families
Do you want to stay close as a family while building and sustaining wealth? This is definitely possible. Do most families do this? Absolutely not.
The path of least resistance is for families to grow apart and lose touch. It’s easier than ever to live far away from each other and let our busy lives take over.
Each generation develops their own unique values and priorities. “Values drift” is predictable. Building multigenerational understanding and collaboration takes motivation, commitment and a plan. Graddha can help you create your plan.
The upside of intentionally creating a culture of communication, trust and family innovation is considerable. There are best practices that, when put in place, make it much more likely that a family will create multigenerational cohesion and build their wealth. The value of strong family relationships goes way beyond wealth.
Shared Values, Purpose and Communication Retreat
What holds your family together? How do you want to be known in the world?
It is common in families to focus on what separates us, and lose track of what we share. As families grow, the path of least resistance is to separate both emotionally and geographically. This is true with or without financial wealth. But money makes it even easier to drift apart.
When families [re]discover their shared values and purpose, their chances of staying close over time increases. Graddha will take your family through a series of forward looking exercises that explore the purpose of the family, shared and individual values, communication styles, goals, and an expanded definition of wealth.
Trust, Trusts and Trustees Workshop
Meaning before numbers.
Are you worried that by talking to your kids about wealth, you will ruin their motivation? You’re not alone.
Communicating constructively about wealth and inheritance is definitely challenging. In a world where 90% of wealth is spent within 3 generations of its creation, many people worry that being open about the family financial situation could get in the way of the rising generation’s initiative to work hard or to work at all. Research shows, however, that regular communication about what matters most is the primary antidote to the loss of financial wealth in families.
Trust, Trusts and Trustees (TTT) introduces young people to wealth and inheritance conceptually without focusing on numbers. It is a starter conversation, planting seeds for follow up. Each step in the TTT process is designed to help participants develop a healthy wealth identity.
Family Meeting Facilitation
Any family can be a family of stewardship.
Research shows that successful families meet regularly to discuss the business of being a family.
It can be hard to know where to start. Sometimes, emotions run high. Graddha can help you create structured facilitated meetings to clarify your family’s purpose and values, educate the rising generation, establish and maintain family governance and create an innovative culture in which your family will thrive long term. In these meetings, every voice matters.
While meeting topics vary widely, some examples are:
What makes each family member unique and how can the family support this
Creating a Family Purpose Statement
Learning about the Family Office
Real Estate Planning
Philanthropy
Investing
Preparation of Heirs
The goal is for each generation to be their own first generation.
Inheritors who inherit money without mentorship and guidance often squander it because they don’t know how to incorporate the wealth into their life positively and creatively. It takes time to learn how to become a responsible steward of wealth. Parents often fear that transparency will lead to entitlement, burden, lack of ambition. But guidance and mentorship are key to healthy wealth transfer.
Graddha has a proprietary model and process for addressing all of the elements of preparing for inheritance. These elements range from the practical to the relational to the psychological. Through our process, future heirs build skills that support them to know the purpose of their wealth, be financially competent and motivated, find community and develop themselves personally and professionally.
Legacy Interviews and Legacy Statements
Your story matters.
How much do you know about your parents? Your relatives? Research has shown that the more family stories we know, the more we thrive. When children get to know their parents as people, the stage is set for healthy development. Except for the few stories that get told and retold many times, most of our experiences are either forgotten or never shared.
Graddha’s Legacy Interview is an opportunity to document important stories and memories as well as hopes and dreams for future generations. Interviews are recorded and then written into a narrative (Legacy Statement) that can be shared and protected.
It is not uncommon for beneficiaries to sue their trustees, even their own family members. Why is this? Because of missed expectations.
The relationship between beneficiaries and trustees is often not given much attention. Trustees might not even know their beneficiaries, yet they are fiduciaries charged with making decisions that impact beneficiaries’ lives significantly. When they get to know each other, the trustee is less likely to be viewed as either a litigation target or an ATM.
Graddha offers a set of structured conversations that allows:
the beneficiary and trustee to get to know each other
for the beneficiary and trustee to be oriented to the terms of the trust and
the trustee to gain a sense of the goals and expectations of the beneficiary
Beneficiary Trustee Relationship Guidance
Relationships that go beyond the transactional.
