Inspired Legacies is a unique social network and
community for people with wealth who seek a better life and world
shirtsleeves to shirtsleeves in three generations
The popularity of the phrase "shirtsleeves to shirtsleeves in three generations" evidences the rarity of successful legacies. Tragically and repeatedly, approximately 70% of families around the world continue to lose control of their assets and family harmony within three generations of a wealth transfer.
"Shirtsleeves to shirtsleeves in three generations" (American)
"Clogs to clogs in three generations" (English)
"Wealth does not survive three generations" (Chinese)
"The third generation ruins the house" (Japanese)
"From stable to stars to stables" (Italian)
why do legacies repeatedly fail?
A 20 year study conducted by the Williams Group (www.thewilliamsgroup.org/index.cfm)
concluded the following:
Unmitigated risks within the family (LACK OF TRUST & COMMUNICATION, FAILURE TO PREPARE HEIRS AND lack of a FAMILY MISSION) account for a whopping 95% of failed legacies, whereas legal, financial, tax, and other technical risks external to the family account for only 5% of failed legacies.
our next steps
With your participation, support and referrals, we are building a diverse and supportive world-wide community of wealth creators and inheritors. We seek to connect people experienced in inheritance matters to people who don't want their family to become another statistic, but instead, to apply their family's financial and human wealth to build a better life and world.
Through collaboration and empowerment via engaging and intuitive technology, we can finally disrupt the "shirtsleeves to shirtsleeves" outcome, form stronger family bonds and wisely apply wealth so we may thrive and live meaningful lives.
successful legacies require a new approach
We need a thoughtful approach to legacy building that effectively anticipates the challenges posed by these internal risks, and responds with transparency, inclusiveness, empowerment, and a shared sense of unity, collaboration and trust.