Generated by All in One SEO v5.0.1.1, this is an llms.txt file, used by LLMs to index the site. # Angus Advisory Group, LLC Helping individuals, families, and organizations create a better future. ## Sitemaps - [XML Sitemap](https://angusadvisorygroup.com/sitemap.xml): Contains all public & indexable URLs for this website. ## Posts - [Resources](https://angusadvisorygroup.com/posts/) - [Family Governance Meets Family Dynamics: a Survey and Strategies for Successful Joint Philanthropy](https://angusadvisorygroup.com/family-governance-meets-family-dynamics-a-survey-and-strategies-for-successful-joint-philanthropy-with-fredda-herz-brown/) - By Patricia M. Angus and Fredda Herz Brown, Ph.D. - Originally published on NCFP Passages in 2007. The Smith family* had been running their foundation for about four years when it hit a roadblock. Mr. and Mrs. Smith, in their late 60s, had funded the foundation with proceeds from the sale of a family business. - [Ten Facts Every Trust Beneficiary Should Know](https://angusadvisorygroup.com/ten-facts-every-trust-beneficiary-should-know/) - By Patricia M. Angus - Originally published in Private Wealth Management in 2003. After years of working with families to establish trusts, and with individual trust beneficiaries, it has become clear to me that there is a need for better understanding by the persons creating trusts and, more importantly, by beneficiaries, about what a trust - [Maximizing Profits While Minimizing Costs: The Key Legal Issues](https://angusadvisorygroup.com/maximizing-profits-while-minimizing-costs-the-key-legal-issues/) - By Patricia M. Angus - Originally published in Families in Business, 2003 A family business that is mindful of the need for proper planning, monitoring and maintenance of legal issues will ultimately be more profitable and successful over the long-term. A family business can sometimes feel like a cozy escape from the complexities of a - [What’s in a Name?](https://angusadvisorygroup.com/private-wealth-management-whats-in-a-name/) - By Patricia M. Angus – Originally published in Private Wealth Management, 2020 Recent advances in areas such as technology, psychology, finance and law have led to a fundamental transformation in the way that family wealth is understood and managed by families around the world. In turn, the industry has been responding to the changing needs and - [How to Start on the Path to Long-term Wealth Preservation and Growth](https://angusadvisorygroup.com/how-to-start-on-the-path-to-long-term-wealth-preservation-and-growth/) - By Patricia M. Angus – Originally published in Private Wealth Management, 2005 Although each family is unique, all wealthy families face the challenges of how to preserve and build wealth over the long-term. Families struggle with managing property that is jointly owned (e.g. family business or co- investments) and/or in which family members have joint interests - [The Year of Governance: A dominating theme on the global, national and family levels](https://angusadvisorygroup.com/2016-was-the-year-of-governance/) - By Patricia M. Angus – Originally published in Trusts & Estates, January 2017 Some years, it’s difficult to look back across 12 months and find a common theme. The year 2016 wasn’t one of those years. Instead, there’s one word that defines 2016—not only for family businesses, but also for the larger world as well—and that - [Themes for Family Businesses in 2023:
Uncertainty and digitalization are among the challenges.](https://angusadvisorygroup.com/themes-for-family-businesses-in-2023/) - By Patricia M. Angus – Originally published in Trusts & Estates, December 2022 Will 2023 be the year that the pandemic is put behind us? Will the political and economic volatility that defined 2022 continue as the calendar is turned to a new year? As family business owners look ahead, what might they see on the - [Review of Reviews: “How Should Inheritance Law Remediate Inequality?”](https://angusadvisorygroup.com/review-of-reviews-how-should-inheritance-law-remediate-inequality-97-wash-l-rev-__-forthcoming-2022/) - By Patricia M. Angus – Originally published in Trusts & Estates, November 2022 Inequality—or rather, disparity—of wealth is perhaps the most complex and vexing issue of our time.1 The law review article, “How Should Inheritance Law Remediate Inequality?” focuses on the challenges of wealth inequality, especially its causes and consequences, and reviews some of the proscriptions presented - [Being “Good With Clients”
Four common assumptions to avoid](https://angusadvisorygroup.com/being-good-with-clients/) - By Patricia M. Angus – Originally published in Trusts & Estates, July 2012 As an aspiring lawyer interviewing for an associate position at one of the top law firms in 1991, I received some interesting feedback. Rather than being told that I was the most brilliant candidate they had ever interviewed, I got the message that - [A View of the Bridge: An enduring Italian landmark offers up lessons for private wealth advisors](https://angusadvisorygroup.com/a-view-of-the-bridge/) - By Patricia M. Angus – Originally published in Trusts & Estates, August 2012 While on vacation recently in Florence, Italy, I took a stroll across the Ponte Vecchio–the aptly named oldest bridge in that city and perhaps one of the most famous bridges in the world. Not only is it well known for its long-standing duration - [Client Engagement: How to improve participation to achieve better results](https://angusadvisorygroup.com/client-engagement/) - By Patricia M. Angus – Originally published in Trusts & Estates, September 2012 For more than a decade, lawyers in New York State have been required to have an “engagement” letter signed by each client to whom they provide legal services. Other states have similar requirements or practices of having written records of the terms of - [(Re-)Building Bridges: Reflections on All Hallows' Eve 2012: Lessons learned from our response to crisis](https://angusadvisorygroup.com/re-building-bridges-reflections-on-all-hallows-eve-2012/) - By Patricia M. Angus – Originally published in Trusts & Estates, November 2012 I’m writing this “Building Bridges” column on Oct. 31, 2012, "All Hallows' Eve," an appropriate holiday for this week of devastation and destruction on the East Coast. Hurricane/Superstorm Sandy has just blown through, and it’s only fitting that we now celebrate a night - [New and Improved: Do we run the risk of discontinuing advice and services that are quite good?](https://angusadvisorygroup.com/new-and-improved/) - By Patricia M. Angus – Originally published in Trusts & Estates, November 2012 Lately, it seems everywhere I turn, things are “new and improved.” Perfectly good items that have served me well no longer exist. Recently, I needed new running shoes to replace my worn out pair. The make and model I was using had been - [Island Hopping: An archipelago can be a model for healthy relationships.](https://angusadvisorygroup.com/island-hopping/) - By Patricia M. Angus – Originally published in Trusts & Estates, December 2012 Last month, I had the opportunity to walk through a city that’s connected as much by its bridges as by its land. In the dim grey winter light of Scandinavia, I found yet another metaphor to shed light on how to improve relationships - [Now What?: The hard work has only just begun.](https://angusadvisorygroup.com/now-what/) - By Patricia M. Angus – Originally published in Trusts & Estates, January 2013 The collective sigh among lawyers, accountants and investment advisors across the United States was practically audible as Dec. 31, 2012 came to a close. This group wasn’t reacting to the drop of the ball in Times Square or merely marking the passage of - [The Perfect Storm?](https://angusadvisorygroup.com/the-perfect-storm/) - By Patricia M. Angus – Originally published in Trusts & Estates, March 2013 It’s brewing on the estate-planning horizon, and clients and their advisors may be heading directly into it. Although it was more than a decade ago, I still remember vividly how I felt while watching “The Perfect Storm,” a film about a tragic confluence - [Trust and Miracles: A simple test as useful groundwork for establishing a long-term relationship](https://angusadvisorygroup.com/trust-and-miracles/) - By Patricia M. Angus – Originally published in Trusts & Estates, May 2013 The word “trust” is used all the time in the private wealth management world. Firms advertise themselves as being “trusted advisors,” and families use trusts to hold and transfer wealth. There are trustors and trustees. Trust planners and trust lawyers. Trust funds and - [Which Gen?
Questioning the Labeling Trend](https://angusadvisorygroup.com/which-gen/) - By Patricia M. Angus – Originally published in Trusts & Estates, May 2013 The private wealth management industry has recently directed its focus to the “Next Gen.” Originally a term used in the technology industry, it’s quickly been adopted to refer to the generation of individuals with ages somewhere between teenage and middle-age. Often, it means - [What is a “Family?”: Supreme Court rulings highlight timeless estate planning questions](https://angusadvisorygroup.com/what-is-a-family/) - By Patricia M. Angus – Originally published in Trusts & Estates, June 2013 This has been quite a week for legal rulings affecting the trusts and estates community: the Supreme Court essentially struck down the Defense of Marriage Act and declined to rule on California's Proposition 8 for lack of standing. Both of these cases focused - ["Go Away"
A tried and true wealth preservation “technique”](https://angusadvisorygroup.com/go-away/) - By Patricia M. Angus – Originally published in Trusts & Estates, August 2013 During the hazy, hot and humid days of summer, it can be hard for advisors to think about how to help clients with their family needs. Some days, just getting to the office might seem a tall enough task, with temperatures rising all - [Friend or Foe?
Think twice before becoming your client’s BFF](https://angusadvisorygroup.com/friend-or-foe/) - By Patricia M. Angus – Originally published in Trusts & Estates, September 2013 If you choose to work as a professional in trusts and estates or private wealth management, you have an opportunity to get to know the lives of your clients in intimate detail. Not only are you privy to information on their bank accounts, - [New Year’s Resolutions: Goals for 2014 to improve client/advisor relationships](https://angusadvisorygroup.com/new-years-resolutions/) - By Patricia M. Angus – Originally published in Trusts & Estates, December 2013 As another year ends and a new one begins, it’s hard not to reflect on achievements and shortcomings—all the things that one has accomplished over the past year, and those we wish had been done before year-end. This marker of time leads inevitably - [Estate Planning Metrics
Outcomes beyond measure?](https://angusadvisorygroup.com/estate-planning-metrics/) - By Patricia M. Angus – Originally published in Trusts & Estates, March 2014 “Metrics” is a hot word these days. In the world of charitable giving, how they measure, evaluate and assess outcomes. Non-profit organizations are encouraged to run their operations more like for-profit businesses and to show quantifiable returns. Similarly, for-profit businesses are expanding their - [Scattergories?
Getting on the right track for financial security](https://angusadvisorygroup.com/scattergories/) - By Patricia M. Angus – Originally published in Trusts & Estates, May 2014 As a long-time proponent of knowing one’s own finances to be able to live a financially secure and purposeful life, I was recently reminded of some of the challenges that arise when one attempts to actually keep track of income and expenses. The - [My Family Enterprise Day
Don’t overlook what’s all around you](https://angusadvisorygroup.com/my-family-enterprise-day/) - By Patricia M. Angus – Originally published in Trusts & Estates, May 2014 Planning for family businesses is becoming a hot topic in the private wealth management community. While the discussion often focuses on what might be considered “Mom and Pop” shops, it’s easy to miss how pervasive family businesses, and the complexities they entail, affect - [Attending to a Client’s True Needs: Lessons learned in unexpected places](https://angusadvisorygroup.com/attending-to-a-clients-true-needs/) - By Patricia M. Angus - Originally published on WealthManagement.com on July 29, 2014 I recently found myself in need of medical help for an unexplained injury. Once again, I found myself learning some lessons that can easily - if not obviously - transfer over to advisors in private wealth management. My simple story highlights some - [Beneficiary’s Choice: One way to reduce the chance of creating trust fund babies](https://angusadvisorygroup.com/beneficiarys-choice/) - By Patricia M. Angus – Originally published in Trusts & Estates, August 2014 Among trusts and estates professionals, especially lawyers, but also family office executives, accountants and financial advisors, the topic of how to avoid creating trust fund babies dominates many a conversation. Clients with the opportunity to leave assets to children ask for advice about - [Private Wealth Advice in the Social Media Era: If work is done well but no one tweets about it, is it still good?](https://angusadvisorygroup.com/private-wealth-advice-in-the-social-media-era/) - By Patricia M. Angus – Originally published in Trusts & Estates, September 2014 We’ve all heard the question: “If a tree falls in the forest and no one hears it, does it still make a sound?” This is often the start of entertaining philosophical discussions about perception, reality and all that surrounds those nebulous concepts. Recently, - [Mindfulness in Advisor-Client Relationships](https://angusadvisorygroup.com/mindfulness-in-advisor-client-relationships/) - By Patricia M. Angus - Originally published on WealthManagement.com on May 27, 2015 By slowing down and looking inward, a financial advisor who’s having difficulty with a client might better understand what’s really happening. “Mindfulness” is a movement on the move. A combination of Eastern philosophy with Western psychology and medicine, its basic tenet is - [How Should Wealthy Parents Treat Wayward Offspring?](https://angusadvisorygroup.com/wealthy-parents-face-delicate-balance-when-passing-their-money-on-to-their-children-especially-the-wayward-ones/) - 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. Link to - [Donor Networking](https://angusadvisorygroup.com/donor-networking/) - By Patricia M. Angus – Originally published in Trusts & Estates, 2015 New philanthropists often are baffled by challenges after their foundation is established or donations are made. Here's how to help them help themselves. Charitable giving through private foundations, trusts and donor-advised funds has been booming for the past few decades. There are now more - [Beyond the Traditional Estate Planning 'Choices': Expanding the Options](https://angusadvisorygroup.com/beyond-the-traditional-estate-planning-choices/) - By Patricia M. Angus - Originally published on Wealth Management.com in March 2015. Estate planners often advise clients that there are only three places where you can leave your assets at death: family, taxes and charity. It became popular to focus on this rule of thumb to encourage tax and charitable planning in the past - [Hearing Women’s Voices in Wealth Planning: Bringing Everyone to the Table](https://angusadvisorygroup.com/hearing-womens-voices-in-wealth-planning/) - By Patricia M. Angus - Originally published on Wealth Management.com in October 2015. Earlier this week, I spoke at a conference on Private Wealth Management in Latin America. While that region may not be known for its cutting edge approach to women and wealth, I welcomed the opportunity to join a panel of “influential women - [Successfully Climbing the Growth Ladder in Family Enterprises: Highlights from Columbia Business School’s annual conference.](https://angusadvisorygroup.com/successfully-climbing-the-growth-ladder-in-family-enterprises/) - By Patricia Riberas – Originally published in Trusts & Estates, March 10, 2017 On Feb. 17, 2017, family business owners, advisors and managers gathered at Columbia Business School’s Fourth Annual Family Business Conference to discuss “From Family Business to Family Enterprise: Successfully Climbing the Growth Ladder.” The main topics were focused on succession, governance, expansion, digitalization - [Six Ways To Improve Family Business Governance
All business-owning families already have governance in place on multiple levels, but it’s often overlooked.](https://angusadvisorygroup.com/six-ways-to-improve-family-business-governance/) - By Patricia M. Angus – Originally published in Trusts & Estates, March 15, 2017 Families who own businesses often overlook the challenge that is “governing” all that they do together inside, and outside, of the business. To some, governance itself is a necessary evil; to others, it’s a dirty word best left unsaid and undone. The - [Weddings, Engagements and Prenups
Help clients address the “what ifs” before the “I dos.”](https://angusadvisorygroup.com/weddings-engagements-and-prenups/) - 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 or a client’s family member traditionally meant one thing: the - [Who’s in Charge?
A new model for understanding family business ownership](https://angusadvisorygroup.com/the-new-family-business-ownership-model/) - By Patricia M. Angus – Originally published in Trusts & Estates, March 2019 Family businesses are complex in many ways. They’re inevitably a mix of entrepreneurial spirit, family connections, business challenges and evolutionary processes spanning multiple dimensions all at once. Any lawyer, accountant, investment advisor or, most importantly, family business consultant, working with a family business needs - [Permanent Rifts or Temporary Fissures?
Advising clients and bridging divides in a time of turmoil](https://angusadvisorygroup.com/permanent-rifts-or-temporary-fissures/) - By Patricia M. Angus – Originally published on Trust and Estates on January 19, 2021 When I started writing under the theme “building bridges,” eight years ago, I had two goals in mind: (1) to help improve relationships between advisors and private clients; and (2) to help improve relationships within families. By identifying gaps and challenges, while - [May I Help You?
How perspective matters in client-advisor relationships](https://angusadvisorygroup.com/may-i-help-you/) - By Patricia M. Angus - Originally published on WealthManagement.com on February 28, 2013 Some time ago, I was describing a particular client dilemma to a colleague. After listening to my concerns, she said, “so, the question is: have you been hired to help, or are you the hired help?” Her response has stuck with me - [Who We Remember: Every Life Has a Story](https://angusadvisorygroup.com/who-we-remember-every-life-has-a-story/) - "Whose life story from your own family would you most want to have documented on film?" In this moving episode of Who We Remember, host Jamie Yuenger talks with Patricia Angus, family legacy advisor, about her great-grandfather, Francisco Escobar. Patricia recounts Francisco’s journey from Colombia to the U.S. in the late 1800s, his career as a - [Audiobook - The Beneficiary Primer: A Guide for Beneficiaries of Family Trusts](https://angusadvisorygroup.com/audiobook-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. Key concepts are distilled to their essential elements, making this primer a "go to" resource for anyone who is - [The Purpose and Power of Family Governance](https://angusadvisorygroup.com/the-purpose-and-power-of-family-governance/) - By Patricia M. Angus – Originally published as a blogpost for NCFP, June, 2021Excerpt from "Passages Issue Brief: Enhancing Your Family Philanthropy with The Family Governance Pyramid" by Ms. Angus. Over the past few decades, practitioners and academics from various disciplines have been developing the theory and practice of family governance. Often the primary motivation has - [Changing Lenses: How perspective affects family wealth advising ](https://angusadvisorygroup.com/changing-lenses/) - By Patricia M. Angus – Originally published in Trusts & Estates, January 29, 2015 As an amateur photography student, I’ve spent many hours learning about techniques and tools to improve my skills in taking, making and presenting photographs. As I’ve been working hard to understand how to use my digital single lens reflex camera, I’ve learned - [Know Your Client?](https://angusadvisorygroup.com/know-your-client/) - By Patricia M. Angus – Originally published in Private Wealth Management in 2011 It is hard to discuss private wealth management, espe­cially in the international context, without using the term "KYC'; the acronym for Know Your Client. Since 9/11, and for a decade or more before then, KYC requirements have been increasing in complexity and force - [Family Feuds: Lessons learned from the headlines](https://angusadvisorygroup.com/family-feuds/) - By Patricia M. Angus – Originally published in Trusts & Estates, November 2014 Hardly a day goes by without a headline about a “family business feud” in the pages of national newspapers or in blasts from various media sources. It’s hard not to get drawn into the real-life soap operas involving battles pitting fathers against sons, - [Eureka! Was 2015 the year family business was “discovered?”](https://angusadvisorygroup.com/eureka/) - By Patricia M. Angus – Originally published in Trusts & Estates, January 25 2016 Looking back some day, 2015 might be known as the year that family business was “discovered,” at least by a group far larger than those specializing in the field. In day-to-day advisory practices, professional conferences and even mass media, nearly audible gasps - [How Should a Family Firm Approach an Ethical Dilemma?](https://angusadvisorygroup.com/how-should-a-family-firm-approach-an-ethical-dilemma/) - Family firms comprise between 70 and 90% of economic activity depending on the country or region, so the impact of family business ethics can be dramatic. In this conversation, Columbia Business School Professor Patricia Angus and IAE Professor Pedro Vazquez, discuss the impact of ethics on family firms and their stakeholders. - [Family Enterprise in the Spotlight: Key Takeaways from the Sackler Family Enterprise Story](https://angusadvisorygroup.com/key-takeaways-from-the-sackler-family-enterprise-story/) - By Patricia M. Angus – Originally published by Columbia Business School Family Business Program in 2020 Introduction: Prior to the COVID-19 pandemic, the opioid crisis was considered by many to be the greatest public health threat to the well-being of Americans. As the crisis evolved, it became increasingly tied to the name of one family: - [A Rose by Any Other Name:
Family firm terminology as a divider or unifier?](https://angusadvisorygroup.com/a-rose-by-any-other-name-family-firm-terminology-as-a-divider-or-unifier/) - By Patricia M. Angus – Originally published in FFI Practitioner, July 31, 2018 In this edition of FFI, Patricia reflects on the complexities of defining some key terminology in the field. Link to FFI Practitioner - [Practice, Practice, Practice: Musings on being a “Practitioner”](https://angusadvisorygroup.com/practice-practice-practice-musings-on-being-a-practitioner/) - By Patricia M. Angus – Originally published in FFI Practitioner, July 16, 2019 In this edition of FFI Practitioner, Patricia examines what it truly means to be a “Practitioner” and the impact of ongoing practice when working with family enterprise clients. Link to FFI Practitioner - [Corporate or Individual Trustee?](https://angusadvisorygroup.com/corporate-or-individual-trustee/) - By Patricia M. Angus, published in NAPFA, February 2021 Selecting a trustee for family trusts is one of the most important decisions a client will make. This article offers some context and guidance on how you can help your clients make this crucial decision. Link to article on NAPFA - [Everything Everywhere All at Once?
Family Enterprises in 2024](https://angusadvisorygroup.com/everything-everywhere-all-at-once/) - By Patricia M. Angus – Originally published in Trusts & Estates, January 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 - [What is a family council and when should a family consider establishing one?](https://angusadvisorygroup.com/what-is-a-family-council-and-when-should-a-family-consider-establishing-one/) - By Patricia M. Angus – Originally published by National Center for Family Philanthropy, October 15, 2012 Many families with multiple branches may elect to set up a Family Council. While the particular roles and responsibilities of Family Councils vary across families, they typically function as an oversight committee that consists of a small group of - [What Role Should a Family Business Play in Its Community?](https://angusadvisorygroup.com/what-role-should-a-family-business-play-in-its-community/) - By Patricia M. Angus, published in Harvard Business Review, February 06, 2020 As a family business leader, you must ask: what is your understanding of the “social contract” today, in 2020? How do the family and other stakeholders view the multiple roles of the family business in the community? What is the proper balance of the - [Your Family Business Needs a Board](https://angusadvisorygroup.com/your-family-business-needs-a-board/) - By Patricia M. Angus, published in Harvard Business Review, September 08, 2022 A board should be at the helm of any family business, steering the business in the right direction. If you wish to have a business that is resilient and has a positive impact on all stakeholders (e.g., employees, customers, vendors, and society) you must - [From Textiles to Multi-generational Wealth: The Shah Family Enterprise](https://angusadvisorygroup.com/from-textiles-to-multi-generational-wealth-the-shah-family-enterprise/) - By Patricia M. Angus - Originally published on Columbia CaseWorks, Spring 2024 What are the factors that drove a family-owned chemical company’s success, and how can the family balance monetization of the business with the desire to continue the legacy? Purchase Full Article on Columbia Business School Caseworks - [House of Redstone: Family Enterprise in Three Acts](https://angusadvisorygroup.com/house-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? Purchase Full Article on Columbia Business School Caseworks - [Pritzker Family Enterprise: A Family Governance Case Study](https://angusadvisorygroup.com/pritzker-family-enterprise-a-family-governance-case-study/) - By Patricia M. Angus - Originally published on Columbia CaseWorks Fall 2013 What does the Pritzker family story, one of the wealthiest and most philanthropic families in the United States, tell us about family governance? Purchase Full Article on Columbia Business School Caseworks - [Trust Ownership of Family Businesses:
Planning for the Future](https://angusadvisorygroup.com/trust-ownership-of-family-businesses-planning-for-the-future/) - By Patricia M. Angus – Originally published in Trusts & Estates, February 2024 The scenario is all too common. The founders (or non-founding owners) of a family business realize it’s time to do some estate planning. Their email inboxes have been inundated with alarming notices that the U.S. estate tax exemption is going down, or going - [Columbia Business School discussion on Enterprising Families: Challenges, Opportunities, and Keys to Success](https://angusadvisorygroup.com/challenges-opportunities-and-keys-to-success/) - Many families today co-own complex businesses, trusts, and investments, but there’s no single guidebook for these enterprising families on how to do all this together, with meaning, purpose, and impact. In this webinar, Columbia Business School's Patricia Angus — a globally recognized thought leader in multi-generational family governance, business, and wealth — highlights the special - [Dream it up, Pass it down: A Guide to Legacy Giving at 92Y](https://angusadvisorygroup.com/dream-it-up-pass-it-down-a-guide-to-legacy-giving/) - Patricia joins Emily Tisch Sussman, host of Your Primary Playlist podcast, for a lively and educational discussion on wealth planning for and with the next generation. Recorded December 11, 2019, at the 92nd Street Y. - [Carter Center Legacy Circle: Your Values and Your Legacy](https://angusadvisorygroup.com/carter-center-legacy-circle-your-values-and-your-legacy/) - Often, the guiding principles or values that ground our perspective and shape our resilience are unspoken, or, more often, unwritten. By focusing on our values, we can come to know ourselves better, and we can be intentional about sharing the things we most want to leave with our families and the world when we are - [Primer on Family Trust Beneficiaries:
Things to Consider](https://angusadvisorygroup.com/primer-on-family-trust-beneficiaries-things-to-consider/) - In this episode of FFI Practitioner's weekly podcast, FFI Fellow Patricia Angus discusses her most recent book, The Beneficiary Primer: A Guide for Beneficiaries of Family Trusts, which serves as a resource for beneficiaries, trustees, advisors, and other practitioners to navigate, administer, and benefit from trusts. Click Here to Listen - [Sustainable Growth Drivers for Family Enterprises](https://angusadvisorygroup.com/sustainable-growth-drivers-for-family-enterprises/) - This webinar draws from the experiences of different stakeholders, explores how family businesses in Africa have evolved, the challenges faced, and the main drivers behind sustainable growth of these enterprises based on three pillars: economic, environmental, and social. - [Virtual Fireside Chat with Leading Family Enterprise and Family Office Experts](https://angusadvisorygroup.com/virtual-fireside-chat-with-leading-family-enterprise-and-family-office-experts/) - The role of family offices in structuring and advising families with regards to liquidity events and family dynamics. Strategies for families to intelligently run and manage the risks associated with private wealth and operating businesses concurrently... - [Mental Health and Estate Planning](https://angusadvisorygroup.com/mental-health-and-estate-planning/) - Patricia joins Arden O'Connor of the Beyond the Balance Sheet podcast in a discussion about estate planning with mental health and addiction issues in mind. Patricia outlines the first steps that families need to take before starting their estate plans. Listen for insightful information and tools that families can use when they begin their estate - [Wealth Transfer Between Generations, Primer for Trustees and Beneficiaries](https://angusadvisorygroup.com/wealth-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:Trusts: what they are, where they come from, purposes they serve.How trusts have changed over the years.Two types of trusts: revocable and irrevocable.What it takes to be a good trustee and a good beneficiary.If trusts have - [Tamarind Learning Podcast: The Trustee Primer](https://angusadvisorygroup.com/tamarind-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. - [Should Parents Tell Their Adult Children What’s in Their Estate Planning Documents? Yes.](https://angusadvisorygroup.com/should-parents-tell-their-adult-children-whats-in-their-estate-planning-documents/) - By Patricia M. Angus - Originally published on Wealth Management.com in February 2015. In general, transparency is the best approach. In general, I believe transparency is the best approach to estate planning when a client has adult children. Of course, what “transparency” actually means will differ according to the client and the specifics of the - [Estate and Wealth Planning for Family Enterprises: Reality – Not Myth – as the Proper Starting Point](https://angusadvisorygroup.com/estate-and-wealth-planning-for-family-enterprises-reality-not-myth-as-the-proper-starting-point/) - By Patricia M. Angus - Originally published on FFI on April 15, 2015. The 2015 FFI Global Conference theme of “myths and realities” provides an excellent opportunity to focus attention on how best to advise family enterprises for the long-term success of the family and the enterprise. There are many myths to be found in - [After the Plan: Guiding Personal Trustees](https://angusadvisorygroup.com/after-the-plan/) - By Patricia M. Angus - Originally published on Wealth Management.com in May 2016. Many years ago, when I was a young lawyer, a new client, “Tom,” entered our offices. He was quite concerned—his friend, “Sam,” had appointed him as trustee of a trust that Sam had set up for his family. Tom had been quite - [Are You "Wealthy"?
Questions for the Industry and Our Clients](https://angusadvisorygroup.com/are-you-wealthy-3/) - By Patricia M. Angus - Originally published on WealthManagement.com June 2016 Recently, I took a taxi to the airport after leaving a conference focused on the challenges and opportunities of families with “great wealth” — that is, families with extraordinary financial, business and philanthropic resources that are expected (or hoped) to last several generations. As - [Complex Family Enterprise: A new way to describe a growing phenomenon](https://angusadvisorygroup.com/complex-family-enterprise-a-new-way-to-describe-a-growing-phenomenon/) - By Patricia M. Angus – Originally published in Trusts & Estates, March 2023 Trusts and estates practitioners (for example, lawyers, accountants and investment advisors) take their clients as they find them. If you’re writing a will or doing an estate plan, you start by finding out as much as possible about the client’s assets and liabilities - [The Family Governance Pyramid: From Principles to Practice](https://angusadvisorygroup.com/the-family-governance-pyramid-from-principles-to-practice-2/) - By Patricia M. Angus - Originally published in Journal of Wealth Management in 2005 Virtually every family of significant wealth lives within a family gover­nance system, yet few know that this is the case and even fewer know how to ensure that they are in charge of the system and that it operates for their - [Got Love? Getting to the “heart” of it](https://angusadvisorygroup.com/got-love-getting-to-the-heart-of-it/) - By Patricia M. Angus - Originally published on Wealth Management.com in February 2014. Valentine’s Day is always a bright spot in the midst of a sometimes (especially this year on the East Coast) long, cold winter. Long enough into the year for the holiday glow to have dimmed, but not so far that it’s lost - [Reality Trumps Myth: Pritzker family enterprise story](https://angusadvisorygroup.com/reality-trumps-myth-pritzker-family-enterprise-story/) - By Patricia M. Angus - Originally published in Trusts & Estates, March 2014 Family business, trust and estate planners have been relying on a set of assumptions about client goals, family relationships and the definition of “success” for as long as the industry has existed. While many of these assumptions have served both advisors and - [Planning Trust Administration to Avoid Conflict](https://angusadvisorygroup.com/planning-trust-administration-to-avoid-conflict/) - By Patricia M. Angus - Originally published in WealthManagement.com in December 2014 In wealth management, the trust is the most common structure used to realize our widely recognized and accepted freedom of disposition. Within broad parameters, the law of trusts allows the grantor to set forth a private law that both permits and restricts the - [What Do Women Really Want? Estate Planning Tailored to Women’s Needs](https://angusadvisorygroup.com/what-do-women-really-want-estate-planning-tailored-to-womens-needs/) - By Patricia M. Angus - Originally published in Private Wealth Management in 2004 Sigmund Freud, who figured out a great deal about the human psyche, was unable to answer one key question: “What do women really want?” A century later, it seems that lawyers, accountants and financial advisors in the private wealth management industry are - [21st Century Trustees](https://angusadvisorygroup.com/21st-century-trustees/) - By Patricia M. Angus - Originally published on FFI Practitioner on November 16, 2016. Business is all about the future. An entrepreneur takes an idea and makes it into a service or product that people will want even need, for years to come. Trusts and trustees, on the other hand, have long been considered "of - [A Bridge Too Far?](https://angusadvisorygroup.com/a-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 - [Are You Wealthy?](https://angusadvisorygroup.com/are-you-wealthy-2/) - 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 - [Founding Women of Family Wealth](https://angusadvisorygroup.com/founding-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": - [Family Enterprise in The Center of it All](https://angusadvisorygroup.com/family-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- - [Guidance for Family Offices: How to approach ESG investing](https://angusadvisorygroup.com/guidance-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 - [Social Contract 2021](https://angusadvisorygroup.com/social-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 - [COVID Conversations](https://angusadvisorygroup.com/covid-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 - [The Family Governance Pyramid: Enhancing and Guiding Your Family Philanthropy](https://angusadvisorygroup.com/the-family-governance-pyramid-enhancing-and-guiding-your-family/) - 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 - [In Tax We Trust: Implications of growing societal and client trends](https://angusadvisorygroup.com/in-tax-we-trust/) - 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 - [Tamarind Learning Podcast: The Beneficiary Primer](https://angusadvisorygroup.com/tamarind-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. - [‘Tis the Season: Year-end planning that doesn’t lead your clients down the road to conflict](https://angusadvisorygroup.com/tis-the-season/) - By Patricia M. Angus - Originally published on Wealth Management.com in December 2014. Year-end planning that doesn’t lead your clients down the road to conflict. Last month, I wrote about family business feuds and how they could be prevented more easily than people might expect. While some families might not mind public attention, most families - [Next Gen 2.0: Taking things to a higher level](https://angusadvisorygroup.com/next-gen-2-0-taking-things-to-a-higher-level/) - By Patricia M. Angus - Originally published in Trusts & Estates in March 2016. You can’t miss it (or them). “Next Gen” is everywhere. The private wealth management industry is awash in Next Gen summits, educational programs, research studies and books, as private wealth advisors of all stripes (lawyers, accountants, financial advisors and more) search - [Family Governance: A Primer for Philanthropic Families](https://angusadvisorygroup.com/the-family-governance-pyramid-from-principles-to-practice/) - By Patricia M. Angus - Originally published on NCFP Passages in 2004. Families who engage in philanthropy together have a unique opportunity to make a positive impact on the world and to share an experience that can enrich their lives beyond measure. At the same time, many families find that managing the work that must - [A Road Map: Choosing Advisors To Help Your Family With Governance and Family Dynamics](https://angusadvisorygroup.com/a-road-map-choosing-advisors-to-help-your-family-with-governance-and-family-dynamics/) - By Jane N. Abitanta, Patricia M. Angus, and Fredda Herz Brown - December 7, 2006 General Tips for Your Selection Process 1. Consider this a learning experience having a number of firms and/or individuals to choose from will help your family continue to focus your requirements. 2. Clearly define the family's criteria for advisor selection - [Family Meetings Come of Age: How to create an effective forum for all generations](https://angusadvisorygroup.com/family-meetings-come-of-age-how-to-create-an-effective-forum-for-all-generations/) - By Patricia M. Angus - Originally published on WealthManagement.com, 2013 As older members of the Baby Boom generation were reaching adulthood, I spent many an hour watching the bevy of TV shows that were focused on the ways that the American family was evolving in the late 1960s and early 1970s. The fact that I - [Sharing the Family Vacation Home](https://angusadvisorygroup.com/sharing-the-family-vacation-home/) - By Patricia M. Angus - Originally published in WealthManagement.com July 2015 Five tips for making frolicking more likely than fighting. Ahh, summer. A time to get away to the family vacation home, kick back, bask in the sun and gather with friends and family in an age-old ritual. Some families have been doing it for - [Governance for Business-Owning Families (Part I): An often overlooked challenge](https://angusadvisorygroup.com/governance-for-business-owning-families-an-often-overlooked-challenge-part-i/) - 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 - [Governance for Business-Owning Families (Part II): It starts at the top](https://angusadvisorygroup.com/governance-for-business-owning-families-an-often-overlooked-challenge-part-iiraft/) - 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 ## Pages - [Home](https://angusadvisorygroup.com/) - Helping individuals, families, and organizations create a better future. Guidance Angus Advisory Group LLC consults to individuals, families, and organizations on family wealth, business, philanthropy, and related issues. Independent teams of professional advisors are created for each client engagement and are led by Patricia Angus. Read More Education Patricia Angus is an Adjunct Professor and - [In The Press](https://angusadvisorygroup.com/what-we-do/in-the-press/) - Patricia Angus is frequently sought for her opinion by major media publications and outlets. Some representative examples include: "Wealthy parents face delicate balance when passing their money on to their children - especially the wayward ones" (Financial Times) Breaking the Silence (New York Times) "Schools Plan for Family Firms: New Business Programs Offer Classes in - [Resources](https://angusadvisorygroup.com/resources/) - Resources for You Are you looking to learn more about the challenges your family is facing? Would you like to better understand your clients' needs? Click on topics for a curated list of dozens of articles and other resources developed by Patricia Angus. Feel free to reach out to us with any questions: assistant@angusadvisorygroup.com. Advisor-Client Relationships - [About](https://angusadvisorygroup.com/what-we-do/) - This is the website of Patricia Angus and Angus Advisory Group LLC. Patricia is a consultant, educator, author, and researcher. Her bio may be downloaded here. Angus Advisory Group is the consulting firm founded by Patricia in 2003 that serves as an umbrella organization for her consulting engagements. The "Group" is virtual and draws upon - [Patricia Angus](https://angusadvisorygroup.com/patricia-angus/) - Patricia Angus, JD, MIA, TEP, is Founder and CEO of Angus Advisory Group LLC, an Adjunct Professor and Founder of the Global Family Enterprise Program Columbia University's Graduate School of Business. A recognized thought leader in the field, she has provided legal and strategic advice to global families and firms with multi-generational businesses, trusts, and philanthropy, - [Education](https://angusadvisorygroup.com/education/) - Patricia Angus teaches individuals and groups in both academic and non-academic settings. Her style is accessible without "dumbing down" the key concepts that apply to family enterprise, wealth, and philanthropy. She founded and led the Global Family Enterprise Program at Columbia University Graduate School of Business, where she has been an Adjunct Professor for over - [Public Speaking](https://angusadvisorygroup.com/services/speaking-topics/) - Looking for something new? Patricia Angus is available to speak about a variety of topics including estate planning, family wealth, family governance, building bridges between advisors and clients, and trends in family enterprise, wealth, and philanthropy. A recognized thought leader in the field, she has provided legal and strategic advice to global families and firms - [Values](https://angusadvisorygroup.com/what-we-do/values/) - We are guided by a set of values that are expressed through the following beliefs and approaches to our work: Purpose. We believe that through our work with clients, we can help not only the individuals and organizations with whom we interact but also the communities on which they have an impact. Empowerment. We seek - [Research](https://angusadvisorygroup.com/research/) - John Donne wrote, "no man is an island, entire unto himself." Angus Advisory Group believes that no individual, family, or organization works in isolation. We also believe in constantly learning from the lessons of the past and present to help create a better future. We are committed to life-long learning and to the exploration of - [Guidance](https://angusadvisorygroup.com/guidance/) - Are you looking for someone who understands the complexity of your situation and can help you develop a productive path forward? Are you trying to get a better handle on family wealth that is held in trusts, partnerships, and other legal entities? Does your wealth management firm want to connect better with your clients? Are you - [Contact](https://angusadvisorygroup.com/contact/) - If you would like more information, or to reach us by email, please fill out the form. We are based in New York City and Washington, DC, and work with clients around the world. Please include a brief note about your interests and we will respond on a confidential basis. Thank you. LinkedIn Name(Required) Email(Required) - [Privacy Policy](https://angusadvisorygroup.com/privacy-policy/) - Angus Advisory Group is committed to safeguarding your privacy. Contact us at if you have any questions or problems regarding the use of your Personal Data and we will gladly assist you. By using this site or/and our services, you consent to the Processing of your Personal Data as described in this Privacy Policy. Table - [Services](https://angusadvisorygroup.com/services/) - Angus Advisory Group LLC is the consulting firm of Patricia Angus. Patricia uses the firm as an umbrella organization to bring in the best professionals to meet her client's needs. As an independent firm, this provides an opportunity to draw from the most qualified and appropriate resources on a conflict-free basis. Some examples of client - [Community Involvement](https://angusadvisorygroup.com/what-we-do/community-involvement/) - Angus Advisory Group actively contributes to the field through writing, speaking, and community involvement. Patricia Angus has contributed innumerable hours of voluntary, pro bono time, talent, and resources to a wide variety of causes on local, national, and international levels. She is particularly interested in the future of education, children, women, and families, and has - [Recognition](https://angusadvisorygroup.com/what-we-do/recognition/) - Patricia Angus and Angus Advisory Group have been recognized as leaders in the field by prominent organizations in the US and abroad. Patricia Angus received The Family Firm Institute (FFI) 2019 Awards for Achievement, Interdisciplinary Award Angus Advisory Group named Finalist, Family Business Advisor of the Year, Society of Trusts & Estates Practitioners (2015) Patricia Angus consistently - [Mission](https://angusadvisorygroup.com/what-we-do/mission/) - Angus Advisory Group helps individuals, families, and organizations create a better future. By focusing on the challenges and opportunities of multi-generational families, businesses, and charitable organizations, we seek to make a positive impact on the lives of our clients and the world in which we live. We do so by creating, leading, and participating in ## Books - [The Trustee Primer: A Guide for Personal Trustees](https://angusadvisorygroup.com/book/the-trustee-primer-a-guide-for-personal-trustees/) - If you have been named as trustee of a trust for a friend or family member, you might not know where to start. If you are already acting as a trustee you may find that there are gaps in your knowledge that get in the way of doing your best in this role. This primer - [The Beneficiary Primer: A Guide for Beneficiaries of Family Trusts](https://angusadvisorygroup.com/book/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? Here’s an essential guidebook for you. Written by an expert who has more than 25 years’ experience working with families to create, administer, and benefit from trusts, this ## Team - [Edelen McWilliams](https://angusadvisorygroup.com/team/edelen-mcwilliams/) - Edelen McWilliams, LSW, CADC, MFA, provides organizational and administrative support to the firm, with a particular focus on supporting client education initiatives. She has collaborated with Patricia Angus on numerous projects for over a decade. For 13 years, Edelen worked as a teacher and performance coach with Fordham Law School’s Clinical and Experiential Program, pulling from - [Selina Yang](https://angusadvisorygroup.com/team/selina-yang/) - Selina Yang assists with content creation and social media management. She is currently pursuing a B.A. in Economics and Statistics at the Barnard College of Columbia University in the City of New York, with plans to pursue a career in consulting or private banking. At school, Selina holds leadership positions at her sorority, business, and finance ## Categories - [All Resources](https://angusadvisorygroup.com/category/resources/) - [Family Enterprise](https://angusadvisorygroup.com/category/resources/family-enterprise/) - Below are resources that address the complex and vast landscape of Family Enterprise. - [Governance](https://angusadvisorygroup.com/category/resources/governance/) - Patricia is a prolific author and widely-considered expert on the subject of Governance. Below you’ll find several of her most sought-after considerations. - [Trusts](https://angusadvisorygroup.com/category/resources/trusts/) - Are you or your client a Trustee or a Beneficiary? The below offers ways to approach and more completely fill out both roles. - [Philanthropy](https://angusadvisorygroup.com/category/resources/philanthropy/) - Philanthropy is a vital aspect of estate planning. Below examines how a family might consider its legacy. - [Estate/Wealth Planning](https://angusadvisorygroup.com/category/resources/family-estate-wealth-planning/) - The below resources cover a wide spectrum of aspects and things to consider in both estate planning and wealth preservation. - [Practitioners](https://angusadvisorygroup.com/category/resources/practitioners/) - [Women and Wealth](https://angusadvisorygroup.com/category/resources/women-and-wealth/) - Below explores the specific considerations of women and their wealth. - [Wealth Management](https://angusadvisorygroup.com/category/resources/wealth-management/) - How does traditional wealth management interface with the needs of a family enterprise? - [Social Responsibility](https://angusadvisorygroup.com/category/resources/social-responsibility/) - How does and can wealth impact society as a whole? - [Family Office](https://angusadvisorygroup.com/category/resources/family-office/) - Are you or your client looking towards establishing a new family office? Or, is your existing family office experiencing some growing pains or facing a specific challenging decision? We hope you find some guidance in the resources below. - [Family Dynamics](https://angusadvisorygroup.com/category/resources/family-dynamics/) - Below is a collection of some more personal aspects that may arise as part of you or your client’s holistic plan and needs. - [Podcasts and Webinars](https://angusadvisorygroup.com/category/resources/podcasts/) - A collection of some of the many and recent discussions with fellow thought-leaders covering a range of topics. - [Advisor-Client Relationships](https://angusadvisorygroup.com/category/resources/advisor-client-relationships/)