Foundations of Legacy: Family History, Culture,
Purpose, Vision and Values

Course Overview

A deep understanding of the family – past, present and aspirations for the future – is a critical foundation stone of every aspect of legacy strategy, and an essential precondition to every course in this e-learning platform.

This Foundation of Legacy course will provide the first step in addressing Integrated Legacy Strategy, Family Governance, Leadership and Succession, Family Wealth Management, Family Dynamics and every other Foundation, Core and MasterClass Course presented here.

This course begins with defining who the family is – traditionally defined as bloodline descendants and adopted children of a defined individual or couple – but may also include other criteria such as being a shareholder in a family business, and may or may not include in-laws and step children. How far back in generations a family goes in defining itself will have a major impact on the size of the current and future family as defined, which can have a major impact on family wealth and legacy planning.

Essential Understanding

Understanding the history of the family is important. It is as essential to look backward at what has already been, as well as to look forward at what the future is likely to be.

As best as we can, this will provide a solid foundation upon which to develop an aspirational vision and to design realistic plans of action to turn that aspiration into reality.

Once the definition, history and challenges of the family are clarified, this knowledge can provide a foundation upon which to craft statements of Family Purpose (why the families stay together), Philosophy of Wealth (how the family thinks about ownership of its financial and operating assets), Vision (what the family wish to accomplish) and Values (how the family will navigate and act as a group, contributing to a pathway that will determine who the family is as well).

Objectives

This course will provide you with an understanding of the concepts, core documents and future plans that will allow you to build the foundations of your family wealth and legacy plans.

This initial course will help you to take the first step toward understanding the past and present more clearly (your ‘point of departure’) and setting out on the journey toward a better future for your family (your intended ‘point of arrival’), defining and realizing your aspirations in the areas most important to you and your family.

Instructors

Prof. Heinrich Liechtenstein and Mark Haynes Daniell