Family Business Readings: Soft Preconditions for Robust Family Trusts
Arising out of my consulting experience in helping family firms with family governance, charters and so on, I have a few learnings to share with Family Business Owners, Family Business Advisors and Trust professionals. Arising out of my consulting experience in helping family firms with family governance, charters and so on, I have a few learnings to share with Family Business Owners, Family Business Advisors and Trust professionals. While wealth consolidation, protection and transfer is the central and obvious agenda, many associated "softer" issues need attention. Creating a Family Trust and then "living" it, are both involved activities. The process of forming the Trust can influence the content of the Trust deeds. Many business families hasten to form Family and Business Trusts and begin this work prematurely, only to hit roadblocks of dysfunctionalities within the family. The main learning is that family governance, the ownership culture and