Welcome to the second edition of the Family Ties^® e-letter brought to you by Pervin Family Business Advisors Inc. If you were a previous subscriber to Family Ties^® (last published in August 2001 and March 2005) we're finally back, again! You can now look forward to receiving, on a regular basis, this e-letter with interesting articles and other items relevant to family businesses.

In this issue, money and children and anger and communication are discussed. In upcoming issues, the business family topics will address beneficial aspects of governance, leadership, organization, planning and relationships, to offer a few ideas. If you have a question, a great idea for inclusion in this e-letter, or if you just have some comments you would like to share with us, we want to hear from you!

Wise and pragmatic habits of successful business families...

Habit #2.
Encourage and respect independence and mutuality, and lifestyle choices, and define possible exit and liquidity options.

For your reading pleasure...

YOUR CHILDREN AND WEALTH PRESERVATION
Wealth preservation is a personal, values laden decision process for all parents. They wonder, will an inheritance ruin their children's lives?

ANGER AND THE ACCIDENTAL PARTNERSHIP
Almost without exception, anger arises in every business and every human relationship. But why is this emotion so prevalent – and so forcefully expressed – in family businesses?

THE ART OF FIGHTING FAIR
Fair fighting is a special process in which partners negotiate to maintain a good relationship or improve a painful one.

DIFFICULT CONVERSATIONS
Every conflict and difficult conversation is different, and there is no one-size-fits-all advice. Even so, there tend to be patterns to what goes wrong, and what helps. Free worksheet!

Thoughts of the day...

Even if you are on the right track, you'll get run over if you just sit there.  – Will Rogers

To dare is to lose one's footing momentarily; Not to dare is to lose oneself completely.  – Kierkegaard

In the media / Additional resources...

THE INVESTMENT CLUB YOU CAN'T GET INTO
Wary of Wall Street, wealthy families form peer groups to share advice, manage money.

SHOW CHILDREN - AND TALK ABOUT - THE MONEY
Business families soon learn that wealth built through the business carries implications for the children. Some may become complacent, never learning their strengths and abilities because they never have to find out. For others, a parent's wealth may provide a target for the child to outstrip.

WHEN BUSINESS IS IN THE BLOOD
Family-owned outfits face an ever-changing array of challenges. Here's a look how the large and small are coping – and thriving.

MORE HELPFUL AND INTERESTING WEB SITES...

• Family Money Consultants
• The Inheritance Project
• Cash University
• More than Money

Need additional references, contact me directly.

Did you know...

Our web site has recently been revamped and is chock full of interesting and compelling articles for the family business. You can send our articles to a friend, family member or colleague, quickly and easily.

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