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The Hidden Risk of Success: When Wealth Changes the Conditions that Form Character
What if success itself is the greatest hidden risk to your family’s legacy?
In this compelling whitepaper, The Hidden Risk of Success: When Wealth Changes the Conditions that Form Character, authored by Michael J. Offenheiser, a critical but often overlooked challenge is revealed: financial success can unintentionally erode the very traits—discipline, resilience, and purpose—that built it.
While many families focus on trusts, governance, and tax strategies, this paper makes a powerful case that structures alone aren’t enough. With research showing that 70% of wealthy families lose their wealth by the second generation, the real differentiator is not financial planning—but intentional character formation.
Discover how successful families break the cycle by cultivating responsibility, gratitude, and sound judgment in the next generation—through meaningful work, service, and guided independence.
Read the Full Whitepaper
About Brown and Streza
Brown and Streza LLP is a law firm providing integrated legal services in tax, estate, trust, real estate, business, business succession planning, and charitable planning, including representing non-profits and religious organizations. Located in Orange County, California, we serve families, businesses, entrepreneurs, philanthropists, and charitable organizations, focusing on helping closely-held businesses and their owners achieve their goals. For more information, please visit our website.
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The need for fact-based reporting of issues important to family owned businesses and protecting a lifetime of savings has never been greater. Now more than ever, successful families and family owned businesses are under fire. That's why Family Enterprise USA is passionately working to increase the awareness of issues important to family owned businesses built on hard work, while continuing to strengthen our presence on Capitol Hill. The issues we fight for or against with Congress in Washington DC include high income tax rates, possible elimination of valuation discounts, increase in capital gains tax, enactment of a wealth tax, and the continued burden of the gift tax, estate tax and generation skipping tax.
Family Enterprise USA promotes generationally owned family business creation, growth, viability, and sustainability by advocating for family businesses and their lifetime of savings with Congress in Washington DC. Since 2007, Family Enterprise USA has represented and celebrated all sizes, professions and industries of family-owned enterprises and multi-generational employers. It is a bi-partisan 501.c3 organization. Family foundations can donate.
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