It is often assumed that the acclaimed American family, the Rockefellers, pioneered the family office in the late 19th century. However, history suggests otherwise. While today’s family offices are a modern phenomenon, they have always existed in various shapes and...
How to transfer the family business to next generations? Timely and proper transferring of family assets requires careful planning and training of successors and documenting the rights and obligations of all family members. This should be based on discussions...
Part 2 of Example of a Family Covenant Suggested format of a family covenant with different clauses, as may be relevant, part 2 of 2, clausues 8-16. 9. Ownership and transfer of Company shares Review (and amend if necessary) ownership structure with regards to...
Example of a Family Covenant - Part 1 of 2 Suggested format of a family covenant with different clauses, as may be relevant, part 1 of 2,clauses 1-8. 1. Introduction Explanation about the family structure, the relevant assets, the nature of the family business and...
When dealing with family governance, family advisors should keep in mind the following steps: establishing a proper diagnosis of the family needs, implementing appropriate tools and increasing involvement toward family. Implementing strong family governance First,...
