Wealth-and business-owning families face significant challenges navigating the many issues they encounter throughout the investment and business lifecycle: generational succession planning, tax planning, wealth management, and more. There are many wrong turns available and much bad advice for the taking that can result in the destruction of wealth and familial harmony. In The Transformative Power of Family Wealth, veteran wealth management consultant and tax expert Philip Marcovici delivers an incisive and eye-opening new take on the practical steps that wealth and business-owning families can follow to avoid the many common pitfalls that all too often arise. The book highlights a diverse collection of voices, including women, advisors from different cultures and religions, as well as consultants from around the world, as they discuss the unique challenges faced by wealth and business owning families. You'll find practical advice for how family wealth and business owners are and can be a constructive force for good--for families, for economies, for communities, and for the planet. The Transformative Power of Family Wealth focuses squarely on the concept of sustainability. It provides pathways for families of means to achieve success and harmony while maintaining an ability to be a force for good in society as a whole. This requires the maintenance of the wellbeing and mental health of the individuals within those families and Marcovici explains how to achieve those things. Perfect for wealth- and business-owning families, the advisors who consult with these families, private banks, trust companies, lawyers, accountants, and asset managers, The Transformative Power of Family Wealth will also earn a place in the libraries of regulators, legislators, policy analysts, and journalists who hope to advance their understanding of taxation and its role in addressing inequality.