Sharing inherited assets

Watch Video: Sharing inherited assets by Lee Hausner, PhD, ...
Sharing inherited assets | Kids in the House
KidsInTheHouse the Ultimate Parenting Resource
Kids in the House Tour

Sharing inherited assets

If the next generation is going to share any type of asset -- it can be a large asset like the family home -- but if they are going to share an asset that has certain material values; what becomes very important is that they make cooperative and collaborative decisions. That is something, very often, that families have not worked with, especially if they don't have family meetings. If you have a powerful parent or a set of parents who have been the decision makers, then the model that the children have seen is one decision maker. That works if you are the one creating the asset, but if the asset gets passed down to the next generation, they are suddenly in partnership or maybe their cousins. The role of leadership is not "my way or the highway," it's got to be collaborative. I've got to build consensus and the transition is often difficult. The family often falls apart when they have to make collective decisions. This can even be on healthcare of aging parents. That often causes an enormous stress because the siblings have never learned how to come together to make joint decisions.

Watch Video: Sharing inherited assets by Lee Hausner, PhD, ...


Expert Bio

More from Expert

Lee Hausner, PhD

Clinical Psychologist & Author

Dr. Lee Hausner is an internationally recognized clinical psychologist, business consultant and family wealth advisor. She served as the senior psychologist for the Beverly Hills Unified School District for 19 years. She is currently the Senior Managing Director for First Foundation Advisors. An acknowledged expert on psychological issues involving wealth and wealth transfer, she was a presenter at the World Economic Forum in Davos-Klosters, Switzerland, and is a frequent participant at the high wealth/private client conferences for major financial institutions. She is a frequent guest on national radio and television and a quoted expert in national publications such as The Wall Street Journal, Times, Forbes, Fortune, Privilege, Town and Country and Worth Magazine.

Dr. Hausner is the co-author with Doug Freeman of A Founder's Guide to the Family Foundation, published by the Council on Foundations and is the author of the seminal work regarding wealth and the family; Children of Paradise: Successful Parenting for Prosperous Families. In addition, Dr. Hausner incorporated her unique six-step transition model for succession in family business in the critically acclaimed family business resource book Hats Off to You 2: Balancing Roles and Creating Success in Family Business, of which she was a co-author.

Dr. Hausner is a graduate of Northwestern University (BA, Psychology), San Francisco State University (MA, Psychology), and Kensington University (PhD, Psychology).

More Parenting Videos from Lee Hausner, PhD >
Enter your email to
download & subscribe
to our newsletter