This is a very insightful NY Times article on inheritance, values & the meaning of wealth. It strongly suggests that the current emerging conversation around values in investment and philanthropy is timely and relevant.
Here is a representative quote:
Patricia Angus, principal of wealth advisory services at Shelterwood Financial Services in New York, said that many of her clients were changing how they define wealth. “The definition is broadening to include not just financial capital but human, social and intellectual capital,” Ms. Angus said. “Professionals used to think it was just, “How do I transfer my financial assets at the lowest tax costs? Now people are asking, What is the purpose and meaning of what I’m doing here, and how do I pass those down? It’s not about death. It’s about an experience in life, an opportunity to talk as a family about purpose and values that might not otherwise come up. For people who just write a document and put it in a drawer to be opened on their death, I don’t see that opportunity coming up.”
This article is available as a NYT reprint