In a family wealth context, legacy is often viewed as transactional and financial: the assets that parents leave for their children. That is how the media reports it – whether it’s a transition of wealth or operating business, or a public family battle. But the way it is portrayed is only a reflection of the commercials of mainstream media and the public appetite it satisfies.
Legacy is really about what we leave behind for others. Someone who lives alone on a desert island can’t leave a legacy because there is no-one to leave anything to! Legacy is what people say about us after we’re gone. I’ve been to my fair share of funerals and don’t recall hearing much about people’s financial achievements. Rather, we talk about family and community, because that is what really matters.
The way our legacy is expressed is through stories. They are more than facts – they connect us emotionally with a person’s life journey. They are also an outstanding way to transmit values and wisdom. And as long as we are alive, our stories are not final, so we can continue to write them. If we’re not happy with our story, we can write new chapters.
Doctor Who expressed it beautifully: “Stories are where memories go when they’re forgotten.”
The original article was published in What is Legacy? - David Werdiger
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A successful family advisor, business strategist, entrepreneur, and thought leader with a proven track record of achievement in driving innovation and growth for entrepreneurial endeavours and not-for-profit organisations.
David's experience includes founding and building multiple businesses from the ground up, and expanding and leading operations into new markets. He is recognised by colleagues as a creative problem-solver and strategist with expertise in coming up with ideas and creating new ways of improving business, strategy, operations, and results.
As a business and family advisor, he provides clients with expert business advice on intergenerational business and wealth transition, advancing entrepreneurial efforts, setting up good governance, improving financial and operational results, and strategic direction. He is also a seasoned program leader with an aptitude for providing governance in corporate and philanthropic pursuits with a strong focus on culturally focused non-profits.