If you as a wealth holder, advisor, or citizen have an interest in the closed world of planning for the uber-wealthy, essentially centamillionaires and up, and are looking for a quick, but leading edge, introduction, you might read these two posts by Matt Wesley.
Playing the Long Game
Playing the Long Game:In the Beginning
In talks to advisors, at conferences on Wealth and Wisdom, or such, I sometimes ask: "Are your best practices the solution or the problem?" Matt is more tactful, better informed, and more balanced. But his point, up to a point, is much the same: Advisors create structures serving wealth, but then the family must live in the shadow of those structures.
Why should you as a citizen care? Why not read instead an article like how to reduce your credit card debt? Or how to pay off your student loans? Or how to stretch Social Security payments? Or how buying two pair of pants with one suit jacket can save you money in the long run? Or how to cut your own hair? Or how to make a casserole out of macaroni and luncheon meat? Here is why: Governing Families Govern. Ruling Families Rule. Flourishing Families as that term is used in Uber-Wealth Planning circles do not include yours. Resourceful Women are not bag ladies, forced to survive under difficult circumstances. Your mother may be resourceful, but not in the sense of Resourceful, if you see what I mean? Full of Financial Resources?
The reason to take an interest in Audrey is that she will be your Queen. How she adapts to Master Jack, and a Trust Fund with 51% of the world's wealth, will determine how you and your fellow peons and serfs, the common people, "hard working Americans," live in the future, and until the end of time. That is what Dynastic Wealth Planning is about. It is written for insiders by insiders. It is hidden in plain sight. Rather, you are hidden - you are not even visible in a tour bus, or mowing the lawn, or suckling the wealth owner's child. You are invisible to great wealth, and great wealth and its culture and folkways are invisible to you.
Matt is a JD, with background in estate planing. He is fluent in the humanities. He has a Divinity Degree. I don't see any indication that he is currently tormented by the Gospels, at least not that part of the Gospels that say we find the divine in the faces of the oppressed. By oppressed, or subordinated, he means trust fund babies who are subordinated to legal structures created by less enlightened planners. By subordinated, or oppressed, he does not mean you, either. By culture at war with structure, he does not mean your culture, or American culture generally, nor does he mean democracy in tension with, say, oligarchy. He means solely the culture of wealth and privilege doing its best in the shadow of massive funds in multi-generational trusts. What has that got to do with you? Nothing. You don't have a trust fund, so you don't have to worry about it. Not your problem. Matt and Master Jack will handle mentoring Heirs to Rule a World in which you are Invisible.
I am good with it. Audrey will own, rule, and save the world she inherits. Better her than some I could name. Wish Tutor well with her, so that she will one day control the trusts that control the world, rather than her having to live under the passive aggressive control of a corporate trustee. If she exerts control, she will save us all, as she rescued Rex from the pound. Hey, look! This is the best I can do within the constraints of Children's Story. I know it is absurd. Does Matt?