- “We believe that when parents who build wealth pass only their material assets to their children, and not the values by which they have lived, there is little chance the family, or its wealth, will survive for long.” Beating the Midas Curse, by Perry L. Cochell and Rodney C. Zeeb, Page 7
- “That is not to say that we dismiss the products or process of traditional estate planning outright; on the contrary, investments, trusts, and other financial and legal instruments are, and always will be, the vehicle for the transmission of the things a family owns. But money is just a tool, as likely to separate families as it is to unify them. Your financial net worth is a statistic, not a legacy. To appreciate that fact is to understand that your family cannot be defined in terms of the things that you own; real estate valuations, spreadsheets, trust documents, and bank account balances describe a condition, not a family. You and your children, your grandchildren, and generations of your family yet unborn can only be defined by the values, the traditions, the faith, and the ethics which have shaped your unique family history for many years.” Beating the Midas Curse, by Perry L. Cochell and Rodney C. Zeeb, Page 7
- “We have learned that when families place their valuables ahead of their values, they will end up with neither. We believe that the most important inheritance your children will receive from you comes while you are still alive. It is embedded in your everyday life. It is made up of the values you learned from important people in your own life. This is an inheritance you live and model to your family, friends, co-workers, and the community of people and organizations who make up your world. In short, we are dedicated to seeing that more families don’t become part of “the ninety percent” Beating the Midas Curse, by Perry L. Cochell and Rodney C. Zeeb, Page 8
- “The Heritage Process helps people put their family before their fortune as they plan. In doing so, the chances that the family can thrive in its relationships and still prosper materially for generations are greatly enhanced. Families who go through the Process come to a better understanding of their relationship to wealth, and with one another. They learn to communicate more clearly and more honest about things like money, philanthropy, as well as about their shared goals and objectives. They learn- by doing, not just by talking- how to make the money a tool to achieve the most important goals of all-family unity and individual achievement. They listen to stories about the hardships and triumphs that brought the family to where it is today, and they talk openly and from the heart about deeply important matters, like the sustaining quality of faith.” Beating the Midas Curse, by Perry L. Cochell and Rodney C. Zeeb, Page 8
- “You can pass both your values and your valuables to your children.” Beating the Midas Curse, by Perry L. Cochell and Rodney C. Zeeb, Page 9
- “Emotional inheritances are quite different. They are composed of the values that you experienced and absorbed from your parents, grandparents, and other important people in your life. These people of influence may have taught you these values explicitly, or perhaps you picked them up simply through living around them and interacting with them. It is this emotional inheritance (added to and enriched by your own life experience and living example) that you will pass on to your family and other people you know, whether or not you leave anything amounting to a financial inheritance. This emotional legacy is no less than the sum total of your life experience as evidenced by the values by which you lived. Values such as work, faith, philanthropy, and honesty. You received an emotional inheritance from your parents or grandparents while they lived. Your own children and grandchildren are receiving theirs from you right now.” Beating the Midas Curse, by Perry L. Cochell and Rodney C. Zeeb, Page 46
- “Not surprisingly, the government’s definition of values has undergone considerable change in the past fifty years. A 1953 publication from the U.S. Department of Commerce defined values as: ‘The fundamental principles and beliefs that guide individuals and groups, and provide resolute guidance about the manner in which people should behave.’ No fog there. Just clear, principle-based expression. Now, fast-forward to 2003, and see how a more sensitive, inclusive government defines the same term. According to the USDA: ‘Values are relatively firmly held and socially shared positions or expressions about what is good or right; they are abstract and normative and are considered to be somewhat stable.’ There wasn’t much room for the nuanced interpretation in the 1953 definition. ‘Fundamental Principles’ and ‘resolute guidance’ speak for themselves. But the average teenager, armed only with a learner’s permit, could drive a tank through the logic of the newer definition.” Beating the Midas Curse, by Perry L. Cochell and Rodney C. Zeeb, Page 68-69
- “Our goal in getting the family talking about money is for them to realize that money is a tool. Just a tool. A powerful tool, to be sure, but, one, like fire, that makes a better servant than master. Stripped of its aura of invincibility and curative powers (the ‘money solves everything’ syndrome), money may be seen for what it is: a resource to help strengthen your family through the values you recognize as your most important assets.” Beating the Midas Curse, by Perry L. Cochell and Rodney C. Zeeb, Page 91
- “Any family can develop its own philanthropy program and craft the activities that will encourage a generous spirit in the next generation. Philanthropy, in all its many shapes and forms, is a wonderful way for parents to share their values with their children while making a meaningful contribution in the larger world.” Remmer, “Raising Children with Philanthropic Values“
- “Family philanthropy is a powerful teaching tool that provides a safe environment in which your children can learn about money management and working as part of a team. Moreover, many families want to leave a legacy of meaning in addition to their financial wealth. Philanthropy can function as an important vehicle for articulation core values, providing a meaningful family legacy, and giving your children (and grandchildren) a competency experience. A strategic philanthropy program for family members enhances their human, intellectual, and social capital.” Wealth in Families Third Edition (Charles W. Collier) Page 9
- “Native American songwriter James Yellowbank, who says, “The task of life is to keep your world in order.” And that takes discipline, a healthy balance between work and play, and nourishment of mind, body, and spirit within the context of community—values” Eleven Rings: The Soul of Success. Phil Jackson and Hugh Delehanty. Page 125
- “Maturity is learning to walk away from people and situations that threaten your peace of mind, self-respect, values, morals or self-worth.” Anonymous