EXCELSIOR CAPITAL PRESENTS

What is a Family Owner’s Manual and Do I Need One?

It’s time to make sure you and your family are set up to continue success for generations to come. Today, Josh Kanter shares his journey transitioning from practice as a transactional attorney to reorganizing his family’s activities under a single-family office.
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Podcast: What is a Family Owner’s Manual and Do I Need One?

It’s time to make sure you and your family are set up to continue success for generations to come. Today, Josh Kanter shares his journey transitioning from practice as a transactional attorney to reorganizing his family’s activities under a single-family office. He outlines the importance of having an “owner’s manual” which captures all necessary information regarding a family’s wealth, assets, and legal documents and how it can serve as an educational tool. Josh shares his insights on the evolution of technology and how it helps people manage and store valuable information.

For 20 years, Josh has been responsible for all things family office related for his multi-generational, multi-branch family. He also consults with families on issues around family office design and family governance and education, and he recently launched Leaf Planner, a digital information-sharing platform designed to replicate his family’s “owner’s manual,” a tool to identify blind spots, collect, organize and communicate information to family members and advisors, and to provide a more holistic succession of information.

Key Highlights

[00:01 – 06:56] Opening Segment

  • How Josh reorganized his family’s activities under the umbrella of a single-family office
  • Introducing Leaf Planner
  • A platform designed to replicate the family’s “owner’s manual”
  • Holistic wealth management goes beyond just finding an investment manager

[06:57 – 13:36] Creating an Owner’s Manual for Your Family

  • The challenge is not so much finding the right people
  • The idea of an owner’s manual
  • Identifying gaps in planning, and educating the next generation
  • Excel sheets and Dropbox folders are not enough to truly integrate family wealth information

[13:37 – 20:24] Balance Sheets, Alternatives, and More!

  • Checklists are used to ask families deliberate questions about their wealth
  • The importance of having a comprehensive roadmap of hard data and financial data
  • Why the head of household should know how to access cell phones and computer

[20:25 – 26:54] Prioritize Your Work in the World

  • Think about what your family would need to know if you could never talk to them again
  • Know the right questions to ask and who to bring in for help
  • The owner’s manual helps with the succession of information and transfer of knowledge

[26:55 – 35:38] Closing Segment

  • How technology is transforming succession planning
  • The value of Information

Additional Links:

Leaf Planner: https://leafplanner.com/ 

Brian’s Linkedin: https://www.linkedin.com/in/brian-c-adams/

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