In this episode, we delve into the essential steps families can take to prepare the next generation to inherit and manage wealth responsibly. From initiating conversations about money to fostering financial literacy and aligning values, we explore strategies to equip future generations with the tools and mindset needed to steward family resources effectively.

Our guests, Joan DiFuria and Emily Bouchard, are leaders in wealth psychology and family dynamics. Joan is the Co-Founder of the Money, Meaning & Choices Institute, specializing in helping families navigate the emotional and relational aspects of wealth. Emily, Executive Director at Blended Families Flourishing, brings decades of experience in coaching families through the complexities of wealth transitions and legacy planning. Together, they provide actionable insights for families at every stage of wealth preparation.

In this episode, you will learn:

• (03:57) Engaging Young Children
• (09:07) Guiding Teenagers
• (14:02) Empowering Young Adults
• (21:17) Supporting the Rising Generation

Want to continue the conversation?

• More on Northern Trust’s Secrets of Enterprising Families
• More on Joan DiFuria
• More on Emily Bouchard
• Reach out to your Northern Trust advisor

Remember to subscribe to Secrets of Enterprising Families to stay connected as we dive deeper into the strategies that empower families to manage wealth across generations. Don’t miss our next episode, where we’ll explore wealth planning for business owners.

In this episode, we explore the financial and legal steps essential for starting or expanding a family. From naming guardians to establishing education funds and creating a solid estate plan, we discuss the key strategies for protecting your family’s future.

Our conversation is guided by Stacy Singer, the National Practice Leader for Trust and Wealth Advisory Services at Northern Trust, who combines her professional expertise with personal experience as a parent of two adopted children. Together, we look at how thoughtful planning can provide security, stability, and a strong foundation for generations to come.

In this episode, you will learn:

• (02:00) Essential steps to prepare for the arrival of a child
• (07:32) Strategies for estate planning
• (14:02) Considerations for nontraditional families
• (23:06) How to provide ongoing support for adult children

Want to continue the conversation?

• More on Northern Trust’s Secrets of Enterprising Families
• More on Stacy Singer
• Reach out to your Northern Trust advisor

Remember to subscribe to Secrets of Enterprising Families to stay connected as we dive deeper into the strategies that empower families to manage wealth across generations. Don’t miss our next episode, where we’ll explore creating a wealth plan.

What are the primary benefits, and limitations, of a prenuptial agreement when entering a marriage? What are the most common misconceptions surrounding the agreements, and how can they be used to help foster peace of mind and form a cohesive union?

In this episode, we explore the critical financial conversations that build trust and transparency in marriage. From navigating the complexities of wealth alignment to understanding the tools available for protecting your partnership, this discussion highlights the steps couples can take to ensure financial harmony.

Guided by insights from Morgan Stogsdill, a leading family and divorce attorney, we also discuss how to find the right attorney to navigate these important decisions.

In this episode, you will learn:

• (02:45) Prenuptial agreements
• (18:30) Cohabitation considerations
• (21:05) Postnuptial agreements
• (23:30) Finding the right attorney

Want to continue the conversation?

• More on Northern Trust’s Secrets of Enterprising Families
• More on Morgan Stogsdill
• Reach out to your Northern Trust advisor

Remember to subscribe to Secrets of Enterprising Families to stay connected as we dive deeper into the strategies that support generational wealth. Don’t miss our next episode, where we’ll explore the unique financial challenges and conversations that come with having children.

In this episode, we discuss the five secrets that enterprising families have used to build and sustain wealth across generations. These foundational principles, based on our 130 years of experience advising families, are the backbone of the Secrets of Enterprising Families book recently published by The Northern Trust Institute.

Our guest today is Jen Risher, author of We Need to Talk: A Memoir About Wealth. Jen knows firsthand the complexities of sudden wealth and how open communication, thoughtful planning, and addressing family dynamics head-on are essential for long-term success.

In this episode, you will learn:

• [01:50] Secret 1: Silence doesn’t make it go away
• [08:48] Secret 2: Resist the carrot and the stick
• [12:24] Secret 3: Write it down and communicate
• [16:16] Secret 4: Develop the financial skills to meet each family member where they are
• [18:27] Secret 5: Anticipate conflict and find opportunity

Want to continue the conversation?

• More on Northern Trust’s Secrets of Enterprising Families
• Jen Risher’s book, We Need to Talk: A Memoir About Wealth

Remember to subscribe to Secrets of Enterprising Families to stay connected as we dive deeper into the strategies that support generational wealth. Don’t miss our next episode, where we’ll explore the unique financial challenges and conversations that come with marriage.

How do families build and sustain wealth across generations?

In Secrets of Enterprising Families, hosts Nikè Anani and Eric Czepyha offer an insider's view of the strategies that successful multi-generational families have used during pivotal life events, such as marriage, the arrival of children, or the sale of the family business.

Each episode will feature an interview with a nationally recognized expert on a specific wealth planning topic and will provide actionable insights that you and your family can use at each stage of your own wealth journey.

Subscribe today.

In this episode, hosts Eric Czepyha and Nike Anani dive into the challenges and opportunities of business succession and wealth planning. They explore the complexities of ownership transitions, long-term financial planning, and the importance of engaging the next generation to ensure a business’s success across generations.

Our guest, Gina Staudacher, a tax lawyer with deep expertise in business transitions and succession planning, brings both personal experience and professional insight to the conversation. She shares strategies for structuring ownership, preparing for transitions, and balancing family dynamics with business priorities to create a lasting legacy.

In this episode, you will learn:

• (04:33) Why long-term planning is essential for business owners
• (11:21) Engaging the next generation
• (13:53) Balancing family and business priorities
• (18:29) To sell or not to sell?
• (20:05) Building a strong leadership team

Want to continue the conversation?

• More on Northern Trust’s Secrets of Enterprising Families
• More on Gina Staudacher
• Reach out to your Northern Trust advisor

Remember to subscribe to Secrets of Enterprising Families to stay connected as we dive deeper into the strategies that empower families to manage wealth across generations. Don’t miss our next episode, where we’ll shift the focus to the rising gen - exploring their evolving roles, how they can prepare for leadership, and what it takes to step into ownership successfully.