{"product_id":"the-cycle-of-the-gift-family-wealth-and-wisdom-hardcover","title":"The Cycle of the Gift: Family Wealth and Wisdom - Hardcover","description":"\u003cp\u003eby \u003cb\u003eJames E. Hughes\u003c\/b\u003e (Author), \u003cb\u003eSusan E. Massenzio\u003c\/b\u003e (Author), \u003cb\u003eKeith Whitaker\u003c\/b\u003e (Author)\u003c\/p\u003e\u003cp\u003e\u003c\/p\u003e\u003cp\u003e\u003cb\u003eA comprehensive guide to giving well to family members\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eGiving is at the core of family life--and with current law allowing up to $5,120,000 in tax-free gifts, at least through December 2012, the ultra-affluent are faced with the task of giving at perhaps largest scale in history. Beyond the tax saving and wealth management implications, giving to family members opens up a slew of thorny questions, the biggest of which is, \"How do I prepare recipients of such large gifts?\" With that question and others in mind, Hughes, Massenzio, and Whitaker have written \u003ci\u003eThe Cycle of the Gift\u003c\/i\u003e in three main parts: \"The Who of Giving,\" \"The How of Giving,\" and \"The What and Why of Giving.\" The first part focuses on the people most deeply involved in family giving, especially the recipients and givers (parents, grandparents, spouses, trustees). The second part, \"The How of Giving,\" addresses the delicate balance of givers who want to maintain some level of control and recipients who want some level of freedom in accepting and growing their gifts. The final part, \"The What and Why of Giving\" describes various types of gifts, from money to business interests to values and rituals. The authors also introduce their \"family bank\" concept as a model that combines loans, trusts, and outright gifts. It embodies a framework and set of practices for long-term family growth. Even families without great wealth--or those who have already made large gifts to their children and grandchilren--can benefit from the human wisdom and practical advice found in \u003ci\u003eThe Cycle of the Gift\u003c\/i\u003e.\u003c\/p\u003e\u003ch3\u003eFront Jacket\u003c\/h3\u003e\u003cp\u003e\u003c\/p\u003e\u003cp\u003eFamily giving is more than estate planning and tax accounting. As high-net-worth individuals have discovered, gifts, once given, take on a life of their own. It is not unusual for a well-intentioned gift to have a destructive influence on its recipient's life, or to give rise to feelings and responses that can undermine relationships, alienate family members, and, in the most extreme cases, tear families asunder. \u003c\/p\u003e\u003cp\u003eThis book is about \u003ci\u003egiving well\u003c\/i\u003e--ensuring that your wealth will have the most positive effects on the lives of its recipients and their families, as well as on your own life. As the authors explain, giving, if handled correctly, offers a great opportunity to gain deeper insight into recipients as individuals and their needs, and to come to a heightened awareness of your own needs and expectations. It can improve communication within families, strengthen bonds, and promote the well-being and growth of all involved. And, when done well, legacy giving, like a stone dropped into still water, can have a ripple effect that will continue to expand and grow in positive ways. \u003c\/p\u003e\u003cp\u003eDrawing upon their unique talents and professional experiences, the authors combine profound insights into the psychological and spiritual aspects of giving with practical step-by-step advice on how to do it well. For ease of understanding, they have focused on three crucial dimensions of giving: \u003c\/p\u003e\u003cp\u003eThe Who of Giving--understanding the needs and expectations of all of those most involved in family giving, especially the recipients and givers, including parents, grandparents, spouses, and trustees \u003c\/p\u003e\u003cp\u003eThe How of Giving--maintaining the delicate balance between many givers' needs for control and the recipients' need for freedom \u003c\/p\u003e\u003cp\u003eThe What and Why of Giving--knowing the gift options available to you--from money to business interests to values and rituals--including the authors' \"family bank\" concept, a model that combines loans, trusts, and outright gifts and offers a framework and set of practices for long-term family growth \u003c\/p\u003e\u003cp\u003eRead \u003ci\u003eThe Cycle of the Gift\u003c\/i\u003e and learn how to tap the full power of legacy giving as a force for growing the material and spiritual well-being of your heirs, their families, and their communities.\u003c\/p\u003e\u003ch3\u003eBack Jacket\u003c\/h3\u003e\u003cp\u003e\u003c\/p\u003e\u003cp\u003e\u003cb\u003ePraise for The Cycle \u003ci\u003eof the\u003c\/i\u003e Gift\u003c\/b\u003e \u003c\/p\u003e\u003cp\u003e\"A generous spirit and crystal-clear values are the foundation that protect a family from spiraling into dysfunction and entitlement. \u003ci\u003eThe Cycle of the Gift\u003c\/i\u003e is the perfect blueprint.\"\u003cbr\u003e--Charlotte B. Beyer, founder and former CEO, Institute for Private Investors \u003c\/p\u003e\u003cp\u003e\"This is a remarkable book. It truly helps illuminate the issues and breakthrough conversations that families can have around giving to their children and grandchildren.\"\u003cbr\u003e--Charles W. Collier, former Senior Philanthropic Advisor, Harvard University \u003c\/p\u003e\u003cp\u003e\"The authors have given the reader much to consider-the spirit of giving, the desired effect when making gifts, and the function of the gift over the form. Like \u003ci\u003eFamily Wealth\u003c\/i\u003e, this book puts a spotlight on the most important questions for family members to contemplate when making gifts and offers the potential for completely different outcomes from the experience.\" \u003cbr\u003e--Sara Hamilton, founder and CEO, Family Office Exchange \u003c\/p\u003e\u003cp\u003e\"With thoughtfulness and clarity based on a multi-discipline collaboration of considerable expertise, the authors challenge readers to mindfully consider the dynamics that occur between a gift giver and the recipient. \u003ci\u003eThe Cycle of the Gift\u003c\/i\u003e is an invaluable resource for both individuals and the advisory community.\" \u003cbr\u003e--Dr. Lee Hausner, Managing Director, First Foundation Advisors \u003c\/p\u003e\u003cp\u003e\"\u003ci\u003eThe Cycle of the Gift\u003c\/i\u003e is a must-read for affluent families. It deals with one of the most difficult and profound issues: how much should I gift and what process should I follow? It provides powerful insights to help family members become mindful givers and receivers.\" \u003cbr\u003e--Mel Lagomasino, CEO, GenSpring Family Offices \u003c\/p\u003e\u003cp\u003e\"This extraordinary book is a gift. Its contribution is helping us understand the complete cycle of any gift. The true gift of this book and of its writers is turning awkward situations and even pain . . . into joy!\" \u003cbr\u003e--Thomas R. Livergood, CEO, The Family Wealth Alliance \u003c\/p\u003e\u003cp\u003e\"The best learning comes when a book is able to take something that you do and consider important, and guides you to step back and look with fresh eyes. \u003ci\u003eThe Cycle of the Gift\u003c\/i\u003e takes the process of gifting, a foundation of all society, and takes us on a journey to understand its deeper nature.\" \u003cbr\u003e--Dennis Jaffe, Saybrook University \u003c\/p\u003e\u003cp\u003e\"These well-versed authors offer a golden blend of technically astute practical guidance and the foundational spiritual and classical knowledge of wisdom, discernment, and counsel.\"\u003cbr\u003e--Paul G. Schervish, Professor and Director, Center on Wealth \u0026amp; Philanthropy, Boston College \u003c\/p\u003e\u003cp\u003e\"Families with wealth face a great and persistent challenge: how to give to children and grandchildren in ways that enhance their lives rather than create dependency. \u003ci\u003eThe Cycle of the Gift\u003c\/i\u003e faces this challenge squarely with sound and prudent counsel. If leaving a legacy is important to you, this is a must-read.\" \u003cbr\u003e--James P. Steiner, President, Abbot Downing, a Wells Fargo Business\u003c\/p\u003e\u003ch3\u003eAuthor Biography\u003c\/h3\u003e\u003cp\u003e\u003c\/p\u003e\u003cp\u003e\u003cb\u003eJAMES E. HUGHES JR., ESQ., \u003c\/b\u003e is a resident of Aspen, Colorado, and a retired attorney. Jay is the author of \u003ci\u003eFamily Wealth: Keeping It in the Family, \u003c\/i\u003e and of \u003ci\u003eFamily-The Compact Among Generations\u003c\/i\u003e, and numerous articles on family governance and wealth preservation as well as a series of \"Reflections\" which can be found on the Articles section of his website jamesehughes.com. He was the founder of a law partnership in New York City and has spoken frequently at numerous international and domestic symposia. He is a member of various philanthropic boards and a member of the editorial boards of various professional journals. \u003c\/p\u003e\u003cp\u003e\u003cb\u003eDR. SUSAN E. MASSENZIO\u003c\/b\u003e is a psychologist and founding Associate of Wise Counsel Research Associates, a think-tank and consultancy. Susan has extensive experience consulting to senior executives, leadership teams of Fortune 500 companies, and heads of family businesses. Susan served for many years as the senior psychologist for John Hancock Financial Services, a senior vice president at Wells Fargo Family Wealth, and professor and program director at Northeastern University. Susan is a member of the Collaboration for Family Flourishing. \u003c\/p\u003e\u003cp\u003e\u003cb\u003eDR. KEITH WHITAKER\u003c\/b\u003e is an educator and founding Associate with Wise Counsel Research Associates, a think-tank and consultancy. Keith has many years' experience consulting with advisors to and leaders of enterprising families. Keith served as a managing director at Wells Fargo Family Wealth, where he founded the innovative Family Dynamics Practice. He has also served as a researcher at the Center on Wealth and Philanthropy, a private trustee, a director of a private foundation, and a philosophy professor at Boston College.\u003c\/p\u003e\u003cdiv\u003e\n\u003cstrong\u003eNumber of Pages:\u003c\/strong\u003e 192\u003c\/div\u003e\u003cdiv\u003e\n\u003cstrong\u003eDimensions:\u003c\/strong\u003e 0.73 x 8.8 x 5.87 IN\u003c\/div\u003e\u003cdiv\u003e\n\u003cstrong\u003eIllustrated:\u003c\/strong\u003e Yes\u003c\/div\u003e\u003cdiv\u003e\n\u003cstrong\u003ePublication Date:\u003c\/strong\u003e November 06, 2012\u003c\/div\u003e","brand":"Books by splitShops","offers":[{"title":"Default Title","offer_id":53735103267180,"sku":"9781118487594","price":42.0,"currency_code":"USD","in_stock":false}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0989\/3019\/6844\/files\/989afdaf940273fdc4cf6b5fb5594e76.webp?v=1778372766","url":"https:\/\/pattansenterprise.com\/products\/the-cycle-of-the-gift-family-wealth-and-wisdom-hardcover","provider":"Pattansenterprise","version":"1.0","type":"link"}