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The Family Biz Show

Mar 27, 2021

The Family Biz Show Episode 27 

A Deep Dive into the Three-Circle Model of Family Business Systems 

Join us as we chat with Jay Hughes Jr. About... 

  • What is the three-circle model and why is it so important in understanding family business systems?
  • What are the potential consequences of ignoring the three-circle model?
  • How should families apply the three-circle model, in terms of, governance and planning? 

This week’s guest: 

James “Jay” Hughes, Jr, Esq.*  

Mr. Hughes, a resident of Aspen, Colorado, is the author of Family Wealth: Keeping It in the Family, and of Family – The Compact Among Generations, both published by Bloomberg Press, and is the co–author with Susan Massenzio and Keith Whitaker of The Cycle of the Gift: Family Wealth and Wisdom, The Voice of the Rising Generation, and Complete Faith Wealth, all published by John Wiley & Sons and is a co-author with Hartley Goldstone and Keith Whitaker of Family Trusts: A Guide to Trustees, Beneficiaries, Advisors and Protectors". In addition, he has authored many articles on family governance and wealth preservation and a series of Reflections which can be found on his website 

He was the founder of a law partnership in New York City specializing in the representation of private clients throughout the world and is now retired from the active practice of law. Mr. Hughes was a partner of the law firms of Coudert Brothers and Jones Day. 

He is a current active Fellow of Wise Counsel Research Foundation ( a Boston based think tank providing qualitative advice to families who look to avoid the shirt sleeves proverb and to help their families flourish. 

He is a member of the Advisory Board of Arlington Partners, a Fellow of the Family Firm Institute, a member of the Society of Trusts and Estates Practitioners, a founding member of the Collaboration for Family Flourishing and a Laureate of the Purposeful Planning Institute. 

He has authored various Forwards to multiple published works on families and their flourishing and has been cited in the New York Times, the Wall Street Journal, and various professional journals. 

He is a member of boards of various private trust companies, an advisor to many investment institutions, and a member of several private philanthropic boards. 

He is a graduate of the Far Brook School, which teaches through the Arts, The Pingry School, Princeton University and The Columbia School of Law. He is a counselor to the Family Office Exchange and recipient of its Founder’s Award, the recipient of the Private Asset Management Lifetime Achievement Award, the Ackerman Institute Family Partner Award, and the Wealth Management Lifetime Achievement Award. 

Michael Palumbos is a registered representative of Lincoln Financial Advisors Corp. Securities and investment advisory services offered through Lincoln Financial Advisors Corp., a broker/dealer (member SIPC) and registered investment advisor. Insurance offered through Lincoln affiliates and other fine companies. Family Wealth & Legacy, LLC is not an affiliate of Lincoln Financial Advisors Corp. 


*Not affiliated with Lincoln Financial Advisors Corp.