James E. "Jay" Hughes Jr. is of counsel at Day, Berry & Howard and author of many influential articles on family governance and wealth preservation. He is renowned for facilitating multigenerational family meetings with an emphasis on mission statements and governance issues. In addition, Hughes has spoken frequently at numerous international and domestic symposia on estate and trust planning.
Part One: My Philosophy.
1 Long-Term Wealth Preservation as a Question of Family Governance.
Part Two: Family Practices.
2 The Family Mission Statement.
4 The Family Balance Sheet and Family Income Statement.
5 Investor Allocation.
6 Two Important Practices.
7 The Family Bank.
8 Protectors, Advisers, Mentors, and Hommes d’Affaires.
Part Three: Roles and Responsibilities.
9 Control Without Ownership.
12 Family Philanthropy.
13 Evaluating the Next Generation.
14 Peer Review.
15 The Private Trust Company.
Part Four: Reflections.
16 The Role of Aunts and Uncles.
17 The Art and Practice of Mentorship.
18 The Role of Elders.
19 The Trustee as Mentor.
20 The Trustee as Regent.
21 Unexpected Consequences of a Perpetual Trust.