It's an ongoing process to build family governance and heritage. You will not solve it at once, but all family members should have a voice and active part.
2. WHAT IS FAMILY
GOVERNANCE?
Structures, forums, and frameworks
for decision-making and
communication
based on a family's shared values,
culture, and goals.
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3. THE
FRAMEWORK
Develop a written document outlining
family values, goals, and policies.
Set expectations for wealth ownership
and financial responsibilities.
Foster unity and cooperation among
family members.
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4. GOVERNANCE
BODIES
Form a decision-making and
representative body for family
members.
Enable regular communication.
Engage in education, training, and
succession planning.
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5. PREPARING THE
NEXT
GENERATION
Encourage financial literacy and
wealth management education.
Mentor younger family members in
their roles and responsibilities.
Foster a sense of stewardship and
long-term thinking.
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6. CONFLICT
RESOLUTION
Address and resolve conflicts within
the family governance framework.
Implement alternative dispute
resolution mechanisms.
Preserve family harmony and prevent
public disputes.
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7. ADAPTING TO
CHANGE
Periodically review and update family
governance structures.
Adapt to changing circumstances,
regulations, and family dynamics.
Ensure continued alignment with
family values and goals.
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8. Family governance can assist in
preserving your wealth and
minimizing disputes.
It enables communication,
decision-making, and alignment
in purpose.
THE BENEFITS