Episode Summary

This week we've explored Legacy Assets. Today's action step: Define your family's core values using a five-step process. This exercise creates the foundation for every other family office decision.

The Five-Step Process

1. Individual Brainstorm – Each person writes 10 values that matter to them. Don't filter, just write.
2. Share and Discuss – Go around and share lists. Notice overlaps and differences. Discuss why certain values matter.
3. Narrow to Five – As a family, agree on 5 core values everyone believes in and will make decisions by.
4. Make Them Specific – Write one sentence for each that makes it actionable.
5. Document and Display – Write your values somewhere visible as a reference point.

Examples of Specific Values

Vague: "Integrity"
Specific: "We keep our commitments, even when it's costly."

Vague: "Family first"
Specific: "We prioritize family gatherings and never let business override important family moments."

Key Quote

"This conversation is the foundation of everything else. Values are the operating system. Everything runs on top of them."

Resources & Next Steps

Visit producerswealth.com/family to download free copies of both books, watch the 10-minute video, or book a call.

Keywords

family values exercise, defining family values, core values family, family values workshop, family mission values, family governance values, values definition process, family values statement]]>