When you want to protect your money, the vast majority of strategies come down to ownership. How you own something matters. If you own it inside of a trust, that is a different type of ownership. It is a different characteristic. Does your company own it? That's another different characteristic. Asset protection strategies often sue ownership to separate you from your money. If this is done in the right way, you can't lose it. Usually you can't lose what you don't own. However, you can benefit from things that you don't own directly. Many times, you can still control them too.

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This podcast goes over some of the challenges of adding someone new to a successful family with family governance. Whether it is a new spouse, a new child, or your third cousin who just wants to help out, you need to decide how to handle new members of your family. Mason talks about how his family is updating their policies to cope with the upcoming addition of a new member on August 8th.

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If your family doesn't have these four things, there is a pretty good chance that you'll fail to pass your legacy on to future generations. It might not be this generation, it might not be the next, but a weakness in any of these four and your family will lose it all. Examining historic family businesses and historic family wealth has proven time and again that asset protection combined with solid family governance is the way to lasting wealth and prosperity for your family.

It is true regardless of wealth and sophistication. Wealthy families have failed at this. Successful families have succeeded even if they are not yet one of the iconic pillars of American society. These 4 things are discussed in this podcast.

1. Asset Protection

2. Family Governance

3. Advisory Boards

4. Crisis Planning and Management

If you have ever wondered how it all comes together, wondered how all of the things you learn about in this podcast work together, this is it. All failing families can demonstrate a weakness in one of these four. All successful families hit them all.

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After you’ve implemented Family Governance, things usually start to change pretty fast. Getting everyone on the same page and working to achieve success often causes some serious growth. One of the best things about Family Governance is that you can change your strategies as you make decisions together. But how do successful families change their strategies and structures as they grow? This podcast introduces a series on the transformations your family is likely to make, and shows the way forward by illustrating where we should be going; what a fully grown family looks like.

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Asset Protection begins with understanding the strategy behind the techniques. Why do we do this? The government also has given each of us an asset protection plan. You might be happy with it. You might want more? But don't say the government never gave you anything. There is an amount of wealth that the government says that everyone gets to keep. Is it more than you think is the minimum to be happy? Find out in this podcast. Everything starts here for asset protection.

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Mason goes over the three key differences between a business board and a Family Board: the goal of the meeting, the structure of the meeting, and how we record what happened. When you're meeting with your family, you sometimes have to do the opposite of what you learned in the business world. You have to focus on some things that aren't the top-line items, you have to include things that aren't purely professional, and you need to be an even better note-taker than the secretary on a corporate board.

Have you ever wondered what it looks like to have a family business that runs the best that it possibly can? To have a family business that lasts generation after generation? The largest private held company in the world is one such family business. The Cargill family is on its 7th generation and has more billionaires than any other family.

It got there through sound family governance. The stuff that we talk about on this podcast every time. The things that we help families do. The things that we hope your family will also do.

Listen to this podcast to see a role model family. It will really show you what is possible.

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This community is intended to bring families together that want to help each other build lasting legacies.

The concept that you need a long-term vision for your personal future and the future of your company is so common as to be obvious. So why don’t you have a vision for your family’s future that everyone can agree on?

In this podcast, Mason talks about the importance of having a unified family vision, and gives some important tips on how to get your family started on the right path.

There is a lot of fear out there today. People are afraid that they will lose their businesses, their livelihood, and be left with nothing. The economy is showing some distressing signs. But if you panic, you might make it worse. Michael discusses what you absolutely shouldn't do if you start to see danger on the horizon. Asset Protection mistakes are discussed today. Don't make these mistakes. Fraudulent transfers are a big deal.

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Mason talks about how commitment is the first step towards becoming living Family.

If you are serious about creating a family legacy that is not just a gift of money, you need all the participants to buy in. Long-term success is about far more than passing on money. Find out what a living family actually is, and the easy way to start towards a real legacy now.