Preface

The Cycle of the Gift: Family Wealth and Wisdom invites you on a journey into the subject of giving within families. Before setting off, we want to offer a word about our own journey into this topic.

Every book has its precedents, and in this case the most important is our co-author Jay Hughes’s book Family Wealth: Keeping It in the Family. Writing that book brought Jay face-to-face with a question that he posed but did not answer: “Can a family succeed over the long term without a spiritual component at its core?”1 The Cycle of the Gift reflects on this question and is meant to fill the gap that Family Wealth acknowledged.

Many families’ estate plans focus on tax minimization: an understandable but often unreflective goal. Few are truly ...

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