As parents, all we want for our families is for them to be healthy, wealthy (look after themselves financially), and wise (make good decisions).
Are you feeling like you want to be the primary influence in your kids’ lives? Or want to look forward to raising your kids and grandkids? Are you looking for ways to pass on your knowledge, values, and wealth, and want to feel confident that it’ll be used responsibly? Not to mention, maybe you’re worried about the inevitable, and want to create a strong family now that will last, even when you’re gone.
These are all things we think about as parents, and those are the things that we’re going to talk about today. Furthermore, we have 3 steps that will lead your family to be healthy, wealthy, and wise – and make it last.
Step 1: Establish Family Values
The first step in creating a healthy, wealthy, and wise family is by establishing family values. This is to ensure everyone has common values, that they’re documented, and put in a document where everyone is clear on what they are, where they are, and why they are important. Family Values are the foundation of every family decision you make. To start brainstorming your own family values, check out this Family Values Worksheet HERE!
Step 2: Have a Family Framework
The second step in creating a healthy, wealthy, and wise family is by implementing a family framework.
A family framework acts as a structure, provides cadence, and creates a culture for your community. Frameworks are implemented in successful businesses all the time. What we want to do is apply that same structure, cadence, and culture to your own families. This framework will provide your kids with a sense of belonging so that they won’t go find it elsewhere.
So, what exactly makes up a Family Framework? Everything roots back to your family values, as mentioned earlier. Family Values are the foundation of every family decision you make. When everyone has common values, making decisions become a whole lot easier. In addition, there are five essential pillars that make up a Family Framework, covered below.
The Family Framework Pillars
- The first pillar is symbols. Symbols are a visual representation of a culture and a community. With Legado Family, we believe you should create symbols for your family that represent your family. You can learn how to create your own symbols by watching our Logo Masterclass Replay HERE!
- The second pillar is traditions. Traditions are something that constantly bond people together. Think of your traditions as bonding your family together in the most amazing way, and having something where you’re intentionally designing traditions the bond you end your future generations together.
- The third pillar is the doctrine, which is the guiding principle that you conduct yourself and live as a family. This encompasses things such as mission statements, slogans, goals, and more.
- The fourth pillar is life-defining events. Life-defining events are intentionally designed events that teach your kids and your descendant’s morals and values that you want to instill. Instead of just telling them what the values are, give them an experience that showcases your values and represents them. You can find 50+ ideas for Life Defining Events in our free handbook HERE.
- The fifth pillar of a family framework is your family structure. This is the nitty, gritty, important work that answers questions regarding a family office, a family bank, and most important, aligning your finances with your family values.
Check out the Legado Family Framework Checklist HERE!
3: Create a 7 Generation Family Constitution
Now that you’ve got your family values, symbols, traditions, doctrine, life-defining events, and structure – what do you do with it all?! The last step to creating a healthy, wealthy, and wise family is to take what you’ve done and create a Family Constitution.
You might be thinking…a Family Constitution?! Never heard of it!
Think about it like this; we’re all familiar with what a Will is, and why you need to set one up. The purpose behind having a will is that it describes what you leave behind, the assets that you’ve distributed to each beneficiary, and helps set forth your wishes.
A 7 Generation Family Constitution is similar to your will, but it explains the HOW and WHY for your family behind the decisions you’ve made. The Family Constitution creates structure and connection within your family so that you can feel peace of mind living fully in the now, with the intention for the future.
When we create Family Constitutions, you’ll want to think about looking BACK three generations, and looking FORWARD three generations (hence why we call it the “7th Generation” Family Constitution)! This is so we can look back at what worked for our ancestors, and use it as guidance in setting a vision for our own families.
Think about your kids, your grandkids, your great-grandkids; what is the world you want to create for them?
How Can You Implement These 3 Steps?
In businesses, there are frameworks in place to create structure, cadence, and culture in your business. But why don’t we do that with our families? As parents, you are the leaders of your family. It is up to you to set those intentional structures to bond and streamline your family.
Having a 7th Generation Family Constitution in place will help calm the chaos, and helps you prioritize what really matters – your family.
If this is something you’d like to instill in your own family, visit our program HERE to learn more!
For a limited time only, experience the impact of the Build Family Legacies Foundations Program at 25% off! Use the coupon code SUMMIT25 at checkout, and experience the program live with families all over the world.
Let’s work together to help your family stay healthy, wealthy, and wise – and make it last!
