Speaking / Presentation
The Presentation | The 5 Essentials of a Successful Family Financial Transition
In this one-hour session, Jason Stern will share the five essential elements that make a financial transition work. Drawing from real-world examples, he will spend approximately 35 minutes unpacking each essential and then open the floor for questions/discussion. Attendees will leave with both fresh perspectives on overlooked issues and new insights into familiar topics that often seem deceptively simple.
1
What is a Financial Captain
The Financial Captain is the family member who steers the financial ship. Often this is the individual most responsible for creating or managing the family’s wealth. While they rarely act alone, they are typically the most influential voice in financial decisions, guiding the family’s economic direction.
2
What is a Financial Transition
A Financial Transition is the process of passing financial leadership from the current Captain to the next. This shift often happens due to age, incapacity, or separation. The new Captain is usually a spouse or an adult child who must step into the role of steward and decision-maker.
3
Risks of a Poorly Managed Transition
If not handled with care, financial transitions can create:
-
Intra-family disagreements
-
Fractured or strained relationships
-
Entitlement or dependency among children/relatives
-
Unnecessary tax burdens
-
Stress and confusion for all involved
4
Ideal Audiences
This presentation is designed for groups such as peer learning groups and family forums where open discussion and shared experience are valued. Ideal settings include: Vistage, Tiger 21, YPO Forums, Spousal Forums, WPO, Family Office Exchange, Chief Executive Network, C12, and Family Meetings and Retreats.
