"Family Wealth" by James E. Hughes, is a sensitive, detailed blueprint for families who have acquired wealth and want to use it to create a dynastic organization that will preserve their family and its wealth for many generations to come. This book explains in detail the steps necessary for long-term success and guides the reader through the creation of mission statements, plans for family governance, creating a mutually rewarding relationship between trustees and beneficiaries, philanthropy, mentoring, and the establishment of private trust companies. Hughes emphasizes the need for long-term thinking as well as short-term relationship management within the family since decisions made regarding personal and intellectual development will be just as important as financial decisions to the long-term future of the family organization. This book offers an excellent starting point for financial planners as well as estate and trust attorneys who want to address and serve the interests of the wealthy. I recommend it heartily.
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