{"id":15228,"date":"2025-09-10T17:44:12","date_gmt":"2025-09-11T00:44:12","guid":{"rendered":"https:\/\/familyenterpriseusa.com\/?p=15228"},"modified":"2025-09-10T17:49:08","modified_gmt":"2025-09-11T00:49:08","slug":"purpose-driven-wealth-redefining-prosperity-to-build-a-lasting-legacy","status":"publish","type":"post","link":"https:\/\/familyenterpriseusa.com\/feusa\/purpose-driven-wealth-redefining-prosperity-to-build-a-lasting-legacy\/","title":{"rendered":"Purpose-Driven Wealth: Redefining Prosperity to Build a Lasting Legacy"},"content":{"rendered":"

[et_pb_section fb_built=”1″ _builder_version=”4.16″ custom_padding=”4px|||||” global_colors_info=”{}”][et_pb_row _builder_version=”4.16″ background_size=”initial” background_position=”top_left” background_repeat=”repeat” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.16″ custom_padding=”|||” global_colors_info=”{}” custom_padding__hover=”|||”][et_pb_divider color=”#397389″ divider_weight=”2px” _builder_version=”4.19.4″ _module_preset=”default” global_colors_info=”{}”][\/et_pb_divider][et_pb_cta title=”The data is in! See what family owned businesses are saying about today\u2019s challenges and opportunities.” button_url=”https:\/\/familyenterpriseusa.com\/family-business-survey\/” button_text=”Read the 2025 Annual Survey Executive Survey now! Click here.” disabled_on=”off|off|off” admin_label=”Call To Action Top” _builder_version=”4.27.4″ _module_preset=”default” header_font_size=”22px” background_color=”#397389″ custom_button=”on” button_bg_color=”#ff0019″ custom_margin=”-17px|||||” custom_padding=”16px||19px|||” global_module=”9695″ saved_tabs=”all” global_colors_info=”{}”][\/et_pb_cta][et_pb_divider color=”#397389″ divider_weight=”2px” _builder_version=”4.19.4″ _module_preset=”default” global_colors_info=”{}”][\/et_pb_divider][et_pb_text admin_label=”1″ _builder_version=”4.27.4″ text_font=”||||||||” text_font_size=”16px” background_size=”initial” background_position=”top_left” background_repeat=”repeat” hover_enabled=”0″ global_colors_info=”{}” sticky_enabled=”0″]<\/p>\n

Wealth is more than just financial capital\u2014 it is a malleable force that can shape family goals influence life decisions and empower future generations. Purpose-driven wealth serves as a reflection of family values and aspirations. When approached with purpose, it can transform financial assets into tools to strengthen relationships and create a lasting impact on society. With the right tools, thoughtful planning, and collaboration, wealth can become a unifying resource for families, helping them to thrive across generations while contributing meaningfully to society.\u202f<\/strong><\/h2>\n

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Wealth as a Living Framework\u202f<\/strong><\/p>\n

Effective wealth management is a continuous journey\u2014one that must evolve alongside shifting goals, generational transitions, and societal changes. By establishing guiding principles for a family\u2019s decisions, wealth serve as a launchpad to create good rather than become a potential source of conflict, complacency or confusion.<\/p>\n

Building Trust and Unity Through Communication and Transparency\u202f<\/strong><\/p>\n

When approached with openness and a shared vision, family wealth planning can be a collaborative and empowering experience. Openly sharing information and engaging family members not only minimizes the risk of conflict or unexpected challenges but also creates a strong foundation for collaboration and trust between all parties and long-term financial stability. Parents should identify personal and family goals while also considering their children\u2019s aspirations. Asking for everyone\u2019s input helps lay the foundation for long-term family cohesion around values and the substantial good you\u2019d like to do with your wealth. Initiating conversations about wealth, inheritance, and family roles early in life helps children develop a healthy understanding of financial responsibility.<\/p>\n

This process can begin when children are quite young, starting with simple, hands-on experiences\u2014such as allowing children aged 3 to 5 to hand a credit card to the cashier. As children grow, discussions between the ages of 6 and 10 can start to explore the family\u2019s definition of wealth, weighing values like security, education, and generosity. From ages 10 to 15, consider introducing an allowance, chores, and basic budgeting to help children grasp financial management in a practical way. By 16 and older, opportunities for work, personal budgeting, and increased financial independence prepare teens for adulthood. As children mature, families can incorporate structured discussions facilitated by financial advisors or family meetings to ensure transparency and encourage active participation in wealth planning.<\/p>\n

Revisiting these discussions and strategies regularly ensures that they remain aligned with the family\u2019s vision, reinforcing responsible stewardship while empowering future generations to carry forward both financial stability and the deeper mission behind it.<\/p>\n

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Click here now to read the full whitepaper: Purpose-Driven Wealth: Redefining Prosperity to Build a Lasting Legacy<\/a><\/span><\/strong><\/h4>\n

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Disclosures<\/p>\n

\u00b9The information shown herein is not an exhaustive list of the types of trusts available but examples of the most common types of trusts at Rockefeller Capital Management. \u00b2Philanthropic strategies can also come with potential drawbacks. These may include administrative responsibilities, significant costs, and complexities in managing and distributing funds. It is important to carefully consider these factors and consult with a financial advisor to determine the most suitable approach for your philanthropic goals.<\/p>\n

These materials were prepared by Rockefeller Capital Management (\u201cRockefeller\u201d) solely for informational and educational purposes only and do not constitute an offer to sell or a solicitation of an offer to buy interests in any Rockefeller Capital Management investment vehicle or product. The views and opinions represent the views and opinions of Rockefeller as of the date indicated herein and are subject to change without notice. Certain information is based on information provided to Rockefeller from third party sources believed to be accurate and reliable. We assume no responsibility for independent verification of such information, and we have assumed and relied upon the accuracy and completeness of such obtained information for purposes of these materials. Neither we nor any of our affiliates or agents make any representation or warranty, expressed or implied, in relation to the accuracy, fairness, reasonableness or completeness of the information, and expressly disclaim any and all liability to any such inaccuracy, unfairness, unreasonableness, or incompleteness. The information provided is for informational purposes only and should not be construed as financial, tax, or legal advice. Please consult your legal and tax advisors when considering this information.<\/p>\n

Although the information provided is carefully reviewed, Rockefeller cannot be held responsible for any direct or incidental loss resulting from applying any of the information provided. The information may not be copied, reproduced or distributed without Rockefeller Capital Management\u2019s prior written consent.<\/p>\n

Rockefeller Capital Management is the marketing name for Rockefeller Capital Management L.P. and its affiliates. Investment advisory, asset management and fiduciary activities are performed by the following affiliates of Rockefeller Capital Management: Rockefeller & Co. LLC, Rockefeller Trust Company, N.A. and The Rockefeller Trust Company (Delaware), as the case may be. Rockefeller Financial LLC is a broker dealer and investment adviser dually registered with the U.S. Securities and Exchange Commission (SEC); Member Financial Industry Regulatory Authority (FINRA), Securities Investor Protection Corporation (SIPC). These registrations and memberships in no way imply that the SEC has endorsed the entities, products or services discussed herein. Additional information is available upon request.<\/p>\n

\u00a9 2025 Rockefeller Capital Management. All rights reserved. Does not apply to sourced material. RCM005214<\/p>\n

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About Quackenbush Panetti Wealth Partners<\/strong>
Life\u2019s grandest visions require thoughtful plans. At Quackenbush Panetti Wealth Partners, we\u2019re focused on meeting the dynamic needs of each client, adapting to how those needs unfold over every stage of wealth. Our team is able to provide solutions to your unique challenges, while providing an elevated level of service.\u200b<\/p>\n

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We hope you’ve enjoyed this article. While you’re here, we have a small favor to ask…<\/em><\/h4>\n

As we prepare for what promises to be a pivotal year for America, we’re asking you to consider becoming a member.<\/p>\n

The need for fact-based reporting of issues important to family owned businesses<\/a> and protecting a lifetime of savings<\/a> has never been greater. Now more than ever, successful families<\/a> and family owned businesses<\/a> are under fire. That’s why Family Enterprise USA<\/a> is passionately working to increase the awareness of issues important to family owned businesses<\/a> 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<\/a>, possible elimination of valuation discounts, increase in capital gains tax<\/a>, enactment of a wealth tax<\/a>, and the continued burden of the gift tax<\/a>, estate tax<\/a> and generation skipping tax<\/a>.<\/p>\n

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Family Enterprise USA<\/a> promotes generationally<\/a> owned family business<\/a> creation, growth, viability, and sustainability by advocating for family businesses<\/a> and their lifetime of savings with Congress<\/a> in Washington DC.\u00a0 Since 2007, Family Enterprise USA<\/a> has represented and celebrated\u00a0all sizes, professions and industries of family-owned enterprises and multi-generational<\/a> employers. It is a bi-partisan 501.c3 organization.\u00a0Family foundations can donate.<\/a><\/p>\n

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#incometax #CapitalGainsTax #R&DExpensing #DontPunishSuccess #GrantorTrusts #StepUpinBasis #likeKindExchanges #AcceleratedDepreciation #EstateTax #Deathtax #wealthtax #taxLegislation #CongressionalCaucus #incometaxrates #repealestatetax #AdvocatingForFamilyBusinesses #FamilyOwnedBusiness #WomenOwnedBusiness @FamilyEnterpriseUSA #FamilyEnterpriseUSA<\/p>\n

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Wealth is more than just financial capital\u2014 it is a malleable force that can shape family goals influence life decisions and empower future generations. Purpose-driven wealth serves as a reflection of family values and aspirations. When approached with purpose, it can transform financial assets into tools to strengthen relationships and create a lasting impact on […]<\/p>\n","protected":false},"author":2,"featured_media":15230,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_et_pb_use_builder":"on","_et_pb_old_content":"","_et_gb_content_width":"","content-type":"","footnotes":""},"categories":[48,3,92],"tags":[],"class_list":["post-15228","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-family-businesses","category-feusa","category-multi-generational-business"],"acf":[],"_links":{"self":[{"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=\/wp\/v2\/posts\/15228","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=15228"}],"version-history":[{"count":6,"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=\/wp\/v2\/posts\/15228\/revisions"}],"predecessor-version":[{"id":15241,"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=\/wp\/v2\/posts\/15228\/revisions\/15241"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=\/wp\/v2\/media\/15230"}],"wp:attachment":[{"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=15228"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=15228"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=15228"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}