Family Governance

Too many advisors focus on the legal, financial, investment or other fiscal aspects of the family enterprise needs. Too few focus on what really matters to the family, the family. Family governance can have negative connotations for some families or generations. To some it may be thought of as the senior generations trying to mandate the adult next generations behavior or seen as an obstacle to spending family resources.  While in some cases, those are realities for some families. However, when approached from the right perspective, a family governance plan can develop the skills of the next and future generations to help them be successful on their own and as stewards of the family wealth. The governance structure can also promote greater family communication and collaboration, and yes, the governance structure can provide for greater accountability and transparency among the family members.

Our focus here is to design a strategy that set a clear purpose for the family to work together across the next and future generations. Design a strategy the focuses on helping the family develop communication and fiscal skills to be great stewards of their own families and the overall family’s wealth.  Develop a strategy and structure that helps the family navigate the challenging dynamics of today and those they will likely face in the future.