Family governance provides a framework
for consistent decision-making, clarity
in succession planning, and alignment of wealth with the family’s values and purpose.
Without a governance system, even well-built family enterprises can unravel due to conflicts or unclear expectations.
High-net-worth families often fear
the “shirtsleeves to shirtsleeves in three generations” phenomenon – the loss of wealth by the third generation. A solid family governance plan helps avoid this fate
by creating clarity, reducing conflict,
and ensuring wealth and legacy are stewarded with intention.
The following guide outlines how to initiate family governance with a focus on succession planning and preserving wealth across generations.
