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Book Review
By Laurence J Stybel; Ed.D.
Stybel, Peabody & Associates, Inc.
It could be argued that, in family businesses and medical practices, net worth is the sum of three things: cash and securities, material objectives and values.
Passing wealth through the generations without effectively passing along values condemns many families to the stereotypical cycle summarized in the phrase, “from poverty to poverty in three generations.”
The book: Legacy [The Giving of Life’s Greatest Treasures], by Barrie Sanford Greiff MD (HarperCollins, 1999), particularly focuses on defining values as part of the family legacy.
Greiff, a psychiatrist who works with corporations and executives, ties together lessons learned in both his professional and personal lives to create a guide for developing strong, values-based family relationships to preserve the family business’s health and the family’s wealth and well-being.
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Assessment
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Conclusion
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