Family Concinnities

Posted on February 20, 2001 by Deanne Stone

After the death of John Andrus I in 1934, his eight children went off in different directions. Some siblings moved away from New York, and others had grown estranged from one another. Helen Benedict was concerned that the family was drifting apart. In 1966, Helen, then in her late seventies, hatched a plan to reconnect the family. She invited 37… Read More

Family Foundation Feud

Posted on January 28, 2001 by H. Tony Oppenheimer, Helene ONeil Cobb

Twenty years ago, Anita's parents set up the Hamfield Family Foundation to support worthy institutions in their hometown. They and their accountant became the foundation's trustees and Anita agreed to act as their primary program officer. Although the foundation's stated mission allowed for a broad charitable program, she developed a program strategy focusing on arts and culture… Read More

When the Generational Planets Are Misaligned

Posted on October 20, 1997 by Ivan Lansberg

Parents in their forties and children in their twenties are on a developmental collision course. Parents in their forties enter a period of life reassessment that can shake confidence in their own judgment just as their now grown children enter the family enterprise. Given this complicated dynamic, many recommend the potential successor work outside the family enterprise for a while… Read More

Trust Funds: Blessing … or Curse?

Posted on September 23, 1995 by John Levy, Leon Botstein

Should parents pass on their money to their children? In this double interview, John Levy and Leon Botstein provide opposing views on this question, focusing on issues of heirs’ motivation to work, sense of entitlement, and experience with money and giving… Read More

Kids Should Feel Free to Follow Their Bliss

Posted on October 30, 1994 by Ivan Lansberg

When young people sacrifice their own ambitions in order to live out a parent's dream, the results can be destructive. The best interests of both the family and the business are served when parents heed the wise counsel of mythologist Joseph Campbell and urge their children to "Follow your bliss."… Read More

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