Preface ix
Acknowledgments xiii
Introduction xvii
Part OneFamilies of Affinity: Their Nature and Practices
1 A Family of Affinity 3
2 Defying a Proverb 13
3 Obstacles to Affinity: The Seven Paradoxes 21
4 The Physics of Affinity 31
Part TwoDefining the Journey
5 Essentials for Success 47
6 Happiness: Finding the Spiritual Path 61
7 Self-Actualization: Lessons from Psychology 81
8 The Evolution of Family 91
9 From Family to Tribe: The Emergence of Governance 101
Part ThreePrinciples of Family Governance
10 A System for Joint Decision Making 117
11 Participation and Commitment 129
12 Function and Structure 13713 Change and Accommodation 147
Part FourFamily Leadership
14 Family as an Organization 157
15 Ensuring Dynamic Ownership 169
16 The Second Generation: Leadership’s Critical Stage 189
17 Women and Ownership 203
Part FiveTools and Pathfinders
18 The Essentials for Learning 211
19 Educational Assessment Tools 221
20 The Personne de Confiance: Service Redefined 233
21 Roles and Characteristics of a Personne de Confiance 247
22 A Father’s Wisdom 265
Epilogue 283
Appendix: Recommended Reading 287
Index 309
James E. "Jay" Hughes Jr., Esq., a sixth-generation
counselor-at-law, was the founder of Hughes and Whitaker, a law
partnership in New York, where he focused on the representation of
private clients throughout the world. Now retired from active
practice, he frequently facilitates multigenerational family
meetings, with an emphasis on governance issues. He serves on the
boards of various private trust companies and is an adviser to
numerous investment institutions. Before starting his own practice,
Mr. Hughes was a partner of the law firms of Coudert Brothers LLP
and Jones, Day, Reavis & Pogue (now Jones Day), both in New
York.
Mr. Hughes's articles on family governance and wealth preservation
appear in professional journals, and his series of reflections on
related issues are featured on his Web site. He is the author of
"Family Wealth: Keeping It in the Family," published by Bloomberg
Press, and a member of the editorial boards of various professional
journals. A widely recognized speaker, Mr. Hughes is frequently
called on to address international and domestic symposia on helping
families to avoid the fate of the shirtsleeves-to-shirtsleeves
proverb and to instead flourish through the growth of their human,
intellectual, and financial capital.
Mr. Hughes is an emeritus member of the Board of the Philanthropic
Initiative, a counselor to the Family Office Exchange, an emeritus
faculty member of the Institute for Private Investors, a retired
member of the Board of the Albert and Mary Lasker Foundation, and
former adviser to New Ventures in Philanthropy. He is also a member
of the Friends of the Institute of Noetic Sciences, a member of the
Roundtable of the Hastings Institute, a member of the board of the
Spiritual Paths Foundation, and a member of the board of the Rocky
Mountain Institute. Educated at the Far Brook School, Mr. Hughes is
a graduate of the Pingry School, Princeton University, and the
Columbia School of Law.
Readers may contact the author and learn more about his ideas at
www.jamesehughes.com.
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