A Family Mission Statement can play an important role in growing and maintaining Family Power in the near term and over several generations.
Dynastic trust incentives can help transmit the necessary values for Life, Fortune, and Honor, to grow Family Power, but words on paper are much more likely to lead to a successful legacy when supported by a substrate or lattice of values developed by regular and continuous family discussion during life.
Like a business plan, the Family Mission Statement is continually revised as goals and values come into focus, and failures are addressed. The parents of course have ultimate control as trustmakers and good stewards of their own wealth, but will need to achieve buy-in (assent) from descendants to assure continuation of the legacy, and that requires successful sharing of at least some of these values during life. Buy-in won’t happen without everyone participating.
