Got Family Quick Bits: Family Bank

Hello this is Got Family and I am Carey Berger and today we are talking about the family bank. You’ve seen the t-shirts, “The Bank of Dad.” Well, to some extent that is one of the great gifts you do give to your children; and that you as an entrepreneur may be able to give in a more dramatic way. By providing money, much like an angel investor, you can be that seed money and that support to allow your children to create their own business and their own wealth. In many ways, the transferring of the business didn’t happen in the form of your specific business but in the form of support that enabled them to build their own. This is Got Family where we tell the stories at the crossroads of business and family.