James E. Hughes, Jr. | Family Advisor for 5 Decades | Book: Family Wealth | Family Governance | The 5 Capitals | Shirtsleeves to Shirtsleeves | A 100 Year Thinking | A Story of a Toy Purchase
My guest today is Mr. James E. Hughes, Jay, is my dear friend, and mentor. We talk every month, but this is our first ever recorded talk. He shares his treasured conversations with his late father, a lifetime of experience, and boundless wisdom of family wealth.
Mr. Hughes, a resident of Aspen, Colorado, is an author, advisor to families, founder of a law partnership in New York City that represented private clients throughout the world, now retired from active practice of law. His wonderful book Family Wealth: Keeping It in the Family talks about family governance and wealth preservation with focus on the avoidance of the “shirtsleeves to shirtsleeves” proverb and on the dynamic growth of families’ human, intellectual, social, spiritual, and financial capitals toward their families’ flourishing.
"As it takes 150 years for a copper beech tree {read a great family} to mature, plant today because there is no time to waste." — James E. Hughes, Jr.
We will talk about:
1) The challenges of the shirtsleeves to shirtsleeves in three generations proverb, and the courage it takes to overcome it.
2) The five capitals, looking beyond the financial capital of a family.
3) A hundred year thinking in a family, looking back and looking forward around a family table.
4) How to talk with kids about money, a story of a toy purchase.
5) How to help families and individuals prosper and flourish.
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IMPORTANT: As a reminder, the remarks in this interview represent the views, opinions, and experiences of the participants and are based upon information they believe to be reliable; however, Sicart Associates nor I have independently verified all such remarks.
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