Posts by Edelen McWilliams
Everything Everywhere All at Once?
Family Enterprises in 2024
The 2023 Academy Awards ceremony was quite a sweep for the film Everything Everywhere All at Once,1 which conventions, including genre, casting, plot and the time-space continuum. Looking ahead to 2024, it seems this film is a harbinger of things to come, especially for family enterprises. Just as the family business at the core of…
Read MoreAudiobook – The Beneficiary Primer: A Guide for Beneficiaries of Family Trusts
Have you been named as beneficiary of a family trust? Does it feel overwhelming? Are you looking for some practical information to get up to speed fast? Patricia’s essential guidebook is now available as an audiobook.
Read MoreWealth Transfer Between Generations, Primer for Trustees and Beneficiaries
In this episode of the podcast Talking Billions, Patricia talks with Bogumil Baranowski of Sicart Associates, LLC. Together they explore:What are trusts, where did they come from, what purpose do they serve?How trusts have changed over the years?Two types of trusts: revocable and irrevocableWe’ll hear more about what it takes to be a good trustee…
Read MoreMental Health and Estate Planning
Patricia joins Arden O’Connor of the Beyond the Balance Sheet podcast in a discussion of how mental illness may impact the estate planning process. Click below to listen for insightful information and aspects to consider.
Read MoreIn Tax We Trust: Implications of growing societal and client trends
By Patricia M. Angus – Originally published on WealthManagement.com on February 13, 2022 Most private wealth advisors (including trusts and estates lawyers, accountants and investment advisors) assume that a primary goal of their work is to reduce their clients’ taxes as much as possible, including to the point of elimination. The level of sophistication around…
Read MoreThe Family Governance Pyramid: Enhancing and Guiding Your Family Philanthropy
By Patricia M. Angus – Originally published in NCFP’s Passages July 2021 OVERVIEW Family philanthropy is a very important expression of a family’s commitment to society. It is a high calling for a family that wishes to have an impact greater than their individual efforts alone could accomplish. A private family enters the public realm…
Read MoreHow Should Wealthy Parents Treat Wayward Offspring?
by Emma Jacobs – Originally published in Financial Times on May 26, 2021Giving children too much money, too early, risks indulging them and making them irresponsible. Patricia Angus and other experts offer advice on the delicate balance wealthy parents face when passing their money on to their children – especially the wayward ones.
Read MoreTamarind Learning Podcast: The Beneficiary Primer
In this podcast, Patricia Angus, Managing Director of the Global Family Enterprising Program and Faculty Director of the Enterprising Family Executive Program at Columbia University discusses her book, The Beneficiary Primer, with Kirby Rosplock, PhD, Founder and CEO of Tamarind Partners.
Read MoreTamarind Learning Podcast: The Trustee Primer
In this podcast, Patricia Angus, Managing Director of the Global Family Enterprising Program and Faculty Director of the Enterprising Family Executive Program at Columbia University discusses her book, The Trustee Primer, with Kirby Rosplock, PhD, Founder and CEO of Tamarind Partners.
Read MoreGuidance for Family Offices: How to approach ESG investing
By Patricia Angus and Camille Korschun – Originally published in Family Enterprise Insights, March 2021 Introduction: Environmental, Social, and Governance investing (ESG investing) is an approach that incorporates factors beyond financial return in an investment decision. Namely, the investor incorporates a broad range of criteria such as the business’s environmental impact, social practices, and governance…
Read MoreSocial Contract 2021
By Patricia M. Angus – Originally published on WealthManagement.com February 2021 The year 2021 started with a bang, not a whimper. The pain, confusion, conflicts and challenges that families face in the United States and around the world defy description. Superlatives such as “unprecedented,” “monumental” and “historic” do little justice to describe the state of…
Read MoreFamily Enterprise in The Center of it All
By Patricia M. Angus – Originally published on WealthManagement.com, December 2020 It’s impossible to look at 2020 and not see family enterprises in the center of the astounding confluence of events that shook the world in the past year. Family businesses—from the smallest dry cleaner on a New York City street corner to large family-con-…
Read MoreCOVID Conversations
By Patricia M. Angus – Originally published in WealthManagement.com April 2020 By now, unless you work in health care or an “essential business,” you’ve likely settled into “self-isolation” mode. Working at home, your family is now nearby—physically and/or on the other side of a video screen. You’re likely in close touch with the people who…
Read MoreFounding Women of Family Wealth
Patricia Angus convened the Founding Women of Family Wealth for a series of panel discussions exploring the practitioner perspective, at Columbia Business School Global Family Enterprise Program. Below are links to: “What is wealth?” and “Competition vs. Collaboration”:
Read MoreHouse of Redstone: Family Enterprise in Three Acts
By Patricia M. Angus – Originally published on Columbia CaseWorks Fall 2018 What family enterprise, ownership, and governance lessons can be gleaned from the multigenerational saga of the Redstone family?
Read MoreWeddings, Engagements and Prenups
Help clients address the “what ifs” before the “I dos.” By Marvin Blum – Originally published on Trusts and Estates in February 2018. Tying the knot. Settling down. Getting hitched. Taking the plunge. Regardless of what you call it, getting married is one of life’s great events. For estate planners, the marriage of a client…
Read MoreGovernance for Business-Owning Families (Part II): It starts at the top
By Patricia M. Angus – Originally published in WealthManagement.com March 2018 The world is full of family businesses. Literally. Most of the world’s businesses are owned, controlled and often managed by a group of family members.1 These families face challenges that are quite complex, including how to do well in the business and in the…
Read MoreAre You Wealthy?
Wealth of Wisdom Podcast, Episode 21, 2018 In the first chapter of the book, Wealth of Wisdom (McCullough & Whitaler), Patricia Angus tells a fascinating story about a conversation she had with a cab driver about wealth and life and asks the question – “Are you wealthy?” This question may seem at first blush easy…
Read MoreA Bridge Too Far?
By Patricia M. Angus – Originally published on Wealth Management.com on March 7, 2017. How academia is essential to the future of family, business and society For too long, family business was not only off the radar of graduate schools of business around the world, but also dismissed as something “lesser than” the assumed “big…
Read MoreGovernance for Business-Owning Families (Part I): An often overlooked challenge
By Patricia M. Angus – Originally published in WealthManagement.com March 2017 Families who own businesses face a challenge they often overlook, that is, “governing” all that they do together inside, and outside, of the business. Admittedly, governance itself is fraught with connotations that range from the highest aspirations to something far at the other end…
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