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Family Compact Among Generations
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Table of Contents

Preface ix Acknowledgments xiii Introduction xvii Part One Families 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 Two Defining 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 Three Principles 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 Four Family 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 Five Tools 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

About the Author

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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