Among families of means, once the estate plans are written, the investments diversified, and the trusts established, a familiar question often arises: “What am I missing?” or “What’s next for our family?”
Those questions usually surface once the technical work of wealth management is complete and attention shifts to the far more important human side of wealth. Families may begin thinking about how to prepare their children, define their values, and preserve unity across generations.
For some parents, this reflection brings worry. Are my kids ready to handle the wealth they’ll inherit? Do they see the world through the same lens we do, and do they understand what it took to build this? How can I prevent conflict among siblings and encourage them to work together? How can I formalize our goals and make sure everyone understands what we’re trying to accomplish?
Wealth as a Double-Edged Sword
These are the right questions, and they point to deeper issues than traditional estate planning alone can solve. Financial wealth can be a double-edged sword for families. For individuals, it creates opportunities and opens doors, but it can also undermine ambition, determination, and responsible habits. For the family unit, wealth can fuel a charitable legacy and united purpose, but it can also sow resentment, power struggles, and clashes over who defines that purpose and how. True multi-generational success, or wealth as well-being (as James E. Hughes Jr. defined it in Complete Family Wealth), is qualitative as well as quantitative. And like its financial counterpart, it merits a detailed, thoughtful plan.
Some families have done the technical work, including trusts, tax strategies, operating entities, and insurance, but haven’t yet built the human infrastructure that sustains the wealth’s meaning and purpose. We believe family engagement fills that gap. It’s about creating opportunities for open conversation, establishing a decision-making framework, and helping each generation understand what the family owns and why it matters. Without this engagement, wealth can become isolating or even divisive. When it does, it can become connective, uniting generations around shared values and a common mission.
Preparing the Next Generation
Beyond financial education, preparing children for wealth means helping them develop the character, curiosity, and confidence to manage it. Families who thrive across generations may treat wealth as a classroom. They invite their children into conversations about family priorities, philanthropy, and investing. They share how the wealth was built, explaining the risks taken, the failures endured, and the values that guided each decision. This context can help younger generations see wealth as a responsibility to be earned instead of an entitlement. In essence, the goal is to turn beneficiaries into stewards.
Another key step is defining how the family makes decisions together. Estate documents may govern assets, but they rarely govern relationships. Families may benefit from having a clear structure that establishes rhythm and clarity. That might mean forming a family council, scheduling regular meetings, or drafting a short family charter that outlines values, communication norms, and decision-making processes. The best frameworks can be simple and thoughtful, providing continuity as the family evolves and ensuring everyone knows how their voice fits into the whole.
One powerful way to formalize a family’s shared purpose is through a family mission statement. This isn’t a legal document; it’s a living expression of what the family stands for. Developing a mission statement can be a deeply rewarding process. Families often gather to talk about what values matter most, the impact they want to have, and the kind of legacy they hope to leave. The result might be a short paragraph or a page, but what matters most is that it’s shared, read, and revisited. Some families use visual tools like priority cards to help each person identify and rank core values such as integrity, curiosity, generosity, perseverance, or faith. Writing the mission statement together often sparks conversations that otherwise wouldn’t happen and reveals common threads across generations.
The Family Blueprint
At Lido, our Family Solutions practice has built The Family Blueprint, our framework for helping families define their “why,” translate their values to practical decisions, and carry them forward across generations. The Blueprint consists of three components:
Purpose: Explore your values system, both as individuals and as a family. What do you want your family’s wealth to promote? What do you stand for and, just as importantly, what do you stand against? Once you’ve aligned and defined your shared purpose, you can record and share it through a Letter of Wishes, a family mission statement, and other formats.
Principles: How do your values translate into practical decisions? Your principles connect what you stand for to the real-life choices you make around education, opportunity, and stewardship.
Path: Bring the framework to life through next-generation engagement, family meetings, and the governance structures that build continuity over time.
When we work with families on their Blueprint, we might begin with a “values cards” session, where each family member selects from the cards that resonate most from a deck of conversation-starting prompts. This creates a visual map of shared priorities and differences for deeper conversation. We often follow with a family objective workshop, where members identify what “success” means to them beyond financial metrics, whether it’s education, philanthropy, entrepreneurship, or family unity. From there, we help families distill these insights into a mission statement or family charter, which becomes a living document they can revisit as the family grows and evolves.
These exercises can transform abstract ideas into tangible direction. They can create clarity, strengthen communication, and give each generation a voice in shaping the family’s future.
Learning by Doing
Education is the next essential step. Learning can be especially effective through experience that involves the next generation in actual decisions, allowing them to observe and contribute, and eventually empowering them to lead. Families might include children in reviewing investments, encourage them to lead discussions on charitable initiatives, or invite them to sit in on family meetings. Earlier exposure to real decisions can help younger family members build confidence and familiarity.
Philanthropy can be one of the best ways to make this education real. Giving together allows a family to express shared values and connect across generations. A donor-advised fund (DAF) can be an ideal platform for this purpose. It enables the family to contribute assets, invest them for growth, and recommend grants all under one structure that’s easy to manage and transparent for everyone involved. It also turns giving into a collaborative, hands-on process.
Through a DAF, parents can introduce children to investing concepts by reviewing performance and asset allocation, inviting them to choose causes that reflect their passions, and using philanthropy as a platform to talk about risk, return, and impact. In this way, the DAF can serve as a safe training ground where heirs learn concepts such as due diligence by researching investment options and potential grantees, navigating the interpersonal complexities of shared decision-making, and measuring impact. Over time, these experiences may teach not just financial mechanics, but also empathy, gratitude, and perspective. Philanthropy can become the family’s shared classroom where values and money intersect.
Time, Treasure, and Talent
Giving doesn’t have to be just a financial exercise. One of our clients builds philanthropy into their annual family vacation. In addition to exploring the scenery, cultural attractions, and dining options at their chosen destination, they set aside time to work together in the communities they visit. Whether that’s reading stories to children learning English, patrolling beaches where sea turtles nest, painting a community center, or sharing a practical skill, they work with local organizations in their host communities to get more from their trips than souvenirs. They build connectedness as a family, deepening their appreciation for each other’s talents and problem-solving skills, and create lasting memories while sharing their time and talents around the world.
For families who’ve already achieved financial security, the next horizon may be alignment. The work ahead can be about defining purpose, strengthening connections, and ensuring that future generations inherit wisdom as well as wealth.
When families shift from planning for the next generation to planning with them, it helps to have a thought partner who meets them where they are. At Lido, we work at the crossroads of family and finances, helping clients navigate that complexity as they seek to build enduring wealth in all its forms. So, when you find yourself asking, “What am I missing?”, look past the investment vehicles or tax strategies. The deeper work is engagement, building the structure, communication, and sense of purpose that can allow your family’s wealth to become a unifying force that grows stronger with every generation.
IMPORTANT DISCLOSURES
Lido Advisors, LLC is an SEC-registered investment adviser. Please note that SEC registration does not denote any particular competence or ability and no inference to the contrary should be made. For complete information on the services we provide and our fees, please review our Form ADV at adviserinfo.sec.gov, call (310) 278-8232, or mail us at 1875 Century Park East Suite 950, Los Angeles, CA 90067.
Past performance is not indicative of future performance. The information in this report is for informational purposes only and should not be relied upon as the basis of an investment or liquidation decision. Nothing in this report shall be construed to be a solicitation to buy or offer to sell any security, product or service to any non-U.S. investor, nor shall any such security, product or service be solicited, offered or sold in any jurisdiction where such activity would be contrary to the securities laws or other local laws and regulations or would subject Lido to any registration requirement within such jurisdiction.
Certain information contained in these materials has been obtained from published and non-published sources prepared by third parties, which, in certain cases, have not been updated through the date hereof. While such information is believed to be reliable, Lido has not independently verified such information nor does it assume any responsibility for the accuracy or completeness of such information. Except as otherwise indicated herein, the information, opinions and estimates provided in this presentation are based on matters and information as they exist as of the date these materials have been prepared and not as of any future date, and will not be updated or otherwise revised to reflect information that is subsequently discovered or available, or for changes in circumstances occurring after the date hereof. Lido’s opinions and estimates constitute Lido’s judgment and should be regarded as indicative, preliminary, and for illustrative purposes only.
Not all investments are suitable for all clients. It should not be assumed that any security listed or any recommendations made in the future will be profitable or without loss, including risk of loss of principal, or will equal any prior performance. All investments involve the risk of potential investment losses, including the potential risk of loss of principal, as well as the potential for investment gain. Further, the prior yield figures indicated herein represent performance for only a short time period and may not be indicative of the yield or volatility each security will generate over a long time period. The yield should also be viewed in the context of the broad market and general economic conditions prevailing during the periods covered by the performance information. Any references to future returns/risk are not promises of the actual return the client portfolio may achieve. Before investing, investors should seek financial advice regarding the appropriateness of investing in any securities of investment strategies discussed. Not all investments are suitable for all investors.
Certain information contained in this document constitutes “forward-looking statements,” which can be identified by the use of forward-looking terminology such as “may,” “will,” “should,” “seek,” “expect,” “anticipate,” “target,” “project,” “estimate,” “intend,” “continue,” “believe,” the negatives thereof, other variations thereon or comparable terminology. Due to various risks and uncertainties, actual events or results or the actual performance of the Fund may differ materially from those reflected or contemplated in such forward-looking statements.
Lido does not provide legal or tax advice. Lido’s affiliates, including, but not limited to, Lido Tax, LLC (“L-Tax”) and affiliated third-party legal professionals will, upon request, provide formal legal and tax services for Lido’s client under separate agreement. Prospects and clients are urged to seek the advice of their own independent counsel or tax professional should such services be required. Referrals to our affiliated providers available.
Lido specifically disclaims any and all liability arising from the information or illustrations presented in these materials and is not responsible for the consequences of any decisions or actions taken as a result.
IMPORTANT DISCLOSURES
Lido Advisors, LLC is an SEC-registered investment adviser. Please note that SEC registration does not denote any particular competence or ability and no inference to the contrary should be made. For complete information on the services we provide and our fees, please review our Form ADV at adviserinfo.sec.gov, call (310) 278-8232, or mail us at 1875 Century Park East Suite 950, Los Angeles, CA 90067.
Past performance is not indicative of future performance. The information in this report is for informational purposes only and should not be relied upon as the basis of an investment or liquidation decision. Nothing in this report shall be construed to be a solicitation to buy or offer to sell any security, product or service to any non-U.S. investor, nor shall any such security, product or service be solicited, offered or sold in any jurisdiction where such activity would be contrary to the securities laws or other local laws and regulations or would subject Lido to any registration requirement within such jurisdiction.
Certain information contained in these materials has been obtained from published and non-published sources prepared by third parties, which, in certain cases, have not been updated through the date hereof. While such information is believed to be reliable, Lido has not independently verified such information nor does it assume any responsibility for the accuracy or completeness of such information. Except as otherwise indicated herein, the information, opinions and estimates provided in this presentation are based on matters and information as they exist as of the date these materials have been prepared and not as of any future date, and will not be updated or otherwise revised to reflect information that is subsequently discovered or available, or for changes in circumstances occurring after the date hereof. Lido’s opinions and estimates constitute Lido’s judgment and should be regarded as indicative, preliminary, and for illustrative purposes only.
Not all investments are suitable for all clients. It should not be assumed that any security listed or any recommendations made in the future will be profitable or without loss, including risk of loss of principal, or will equal any prior performance. All investments involve the risk of potential investment losses, including the potential risk of loss of principal, as well as the potential for investment gain. Further, the prior yield figures indicated herein represent performance for only a short time period and may not be indicative of the yield or volatility each security will generate over a long time period. The yield should also be viewed in the context of the broad market and general economic conditions prevailing during the periods covered by the performance information. Any references to future returns/risk are not promises of the actual return the client portfolio may achieve. Before investing, investors should seek financial advice regarding the appropriateness of investing in any securities of investment strategies discussed. Not all investments are suitable for all investors.
Certain information contained in this document constitutes “forward-looking statements,” which can be identified by the use of forward-looking terminology such as “may,” “will,” “should,” “seek,” “expect,” “anticipate,” “target,” “project,” “estimate,” “intend,” “continue,” “believe,” the negatives thereof, other variations thereon or comparable terminology. Due to various risks and uncertainties, actual events or results or the actual performance of the Fund may differ materially from those reflected or contemplated in such forward-looking statements.
Lido does not provide legal or tax advice. Lido’s affiliates, including, but not limited to, Lido Tax, LLC (“L-Tax”) and affiliated third-party legal professionals will, upon request, provide formal legal and tax services for Lido’s client under separate agreement. Prospects and clients are urged to seek the advice of their own independent counsel or tax professional should such services be required. Referrals to our affiliated providers available.
Lido specifically disclaims any and all liability arising from the information or illustrations presented in these materials and is not responsible for the consequences of any decisions or actions taken as a result.
