It’s the usual dilemma: "We've provided significant lifetime financial support to one child for a business venture, while another has pursued a lower-paying but socially valuable career. How do we address this disparity 'fairly' …
Wealth fragmentation occurs when shared family assets (whether from a business, investments, or property) are split among heirs over successive generations. It is one of the most significant threats facing multigenerational family enterprises. While …
When it comes to succession — passing the business from one generation to the next — cultural undercurrents play a much bigger role than many people expect. Succession may look like a simple handover …
It’s often assumed that children will one day take over the family business. They’ve grown up with it. It’s familiar. In many cases, it’s expected. But is continuing the family legacy always the best …
Setting Up a Family Council the Right Way In many successful families, the very traits that fuel business achievement—confidence, boldness, and persistence—can create unintentional silence around the dinner table. One person’s power may quiet …
Leadership succession in family businesses is never simple. While many articles and advisors outline neat, step-by-step plans for passing the baton from one generation to the next, the reality is usually far more complex. …
Leadership transitions are critical moments in the life of any family enterprise or council. They often mark a crossroads where tradition meets change, a process that presents both opportunity and risk. A well-executed transition …
The Challenges of Aligning Generations You’ve probably heard the old saying: “From shirtsleeves to shirtsleeves in three generations.” It’s a warning about how wealth is often built by one generation, maintained by the next, …
Emotions shape our experiences and influence our decisions, even in areas we might prefer to see as purely rational. One such area is the family business. Can we be emotional about it? Isn’t it …
Do we see risk as a threat to avoid, a necessary evil, or something to embrace? And how does this perspective shape the way families support entrepreneurial ventures or personal growth within their own …