Families are among the safest of social systems, yet they can be among the most intense.
High Net Worth families are no different from any other families, except when they are.
This week or next, chances are you will probably have a run-in with a difficult person.
It will not be a particularly pleasant experience, and most of us like to avoid conflict. Because we like to avoid conflict, very few people we encounter at work, on the street, or in the family know what to do to effectively manage, deescalate, or otherwise deal with conflict. That said, conflict is natural and inevitable. It’s part of our lives; in fact, a rather big part. If we are thoughtful, we can personally grow from conflicts. That may not mean we like them, but discomfort, failure and reflection in dealing with them are how we as humans learn. One of the greatest threats to a HNW family and their desired legacy is the inability of the family to navigate difficult family conflicts. Money can grow and be protected. Wealth can be passed on. But, the pain and dis-ease of HNW family dysfunction can be a show stopper.
By William J. Spencer
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