I am currently reading a great book, 'Family wealth-keeping it in the family (how family members and their advisors preserve human intellectual and financial assets for generations' by James E Hughes. Its a great book; it discusses how we can avoid the condition known as 'shirtsleeve to shirtsleeve' in three generations. That is the first generation makes the wealth, the secord generation squanders the wealth and the family returns to poverty ranks by third generation. It happened to my family, my grandfather was very enterprising, setting up a shaggs business that saw him buy plots around our trading center, owning good parcels of land, but after his death the business was run down by his sons, the land is yet to be transfered due to lack of agreement and funds and some of the wealth has been disposed off cheaply. all sons are now living in squalor. This book is a must for those who want to leave a lasting legacy to their future generation. I am so excited by it.

Sounds interesting.. Reminds me of a rich man back from our village. He formed a company and registered all his property there. His kids and grandchildren were made beneficiaries on condition that the company would not be wound up. Drew up a wealth sharing agreement. They still are among the richest family back in the village.

Is it an ebook? If so, whats your mail?

Thats very interesting. I am thinking of following this model. I have registered a company but how do i ensure that my co shareholders (my kids) dont mess it up by selling it away or giving to their husbands? I need to know more about this rich man in your village and how he went about this. What kind of agreement can ensure the company stays in the family no matter what? The book is hard cover. email me on magicalnora@yahoo.com.