The Inheritance ExperienceThe Inheritance Experience

William, a 32-year-old, sixth generation member of a successful business family confided to us, “I want to be known for my first name, not my last name,” when asked about his goal in his own career and life. “Growing up, everyone expected me to follow in the family’s footsteps—no one ever asked what I wanted to do. Who am I independent of my family?”

William’s struggle isn’t unusual. For some inheritors, their relationship to the family enterprise gives them a sense of purpose. We know fourth and fifth generation family members in successful business families who derive energy from the opportunity to engage with their family enterprise and leave it better for their next generation. The ability to leverage their inheritance to positively i...