One of the key factors in a family's discussion of values is the role and importance of money to the family. Among key questions that may arise in family talks about money are those presented here.
One of the more important subjects in family discussion of values is (or can be) money. Among key questions that often arise in family talks are these:
- How do family members really feel about money and about the family wealth?
- How do they feel about allocating a portion of family wealth to philanthropy?
- How comfortable are family members talking about family wealth?
- How much to family members know about the origins of the family wealth?
- How much do they know about the founder’s estate and will?
- What happens when the family wealth is more and more widely distributed with each new generation?
- What experience do family members have in discussing family financial matters?
Points that might come up in family discussions of money include:
- The subject of money is usually fraught with emotional overtones;
- Money is the economy’s way of recognizing certain kinds of accomplishment;
- Money may play a role in a person’s self-esteem; and
- Inherited wealth can become an emotional burden and a handicap