As the scope of a business-owning family’s activities expand and the family grows across generations, the organic shift from a business-centric family to a family-centric enterprise or “family enterprise” begins. The family is faced with the issue of how to preserve the family wealth and well-being beyond the first generation.
Recommended for: Family leaders, family office executives, business owning families
Families with inherited wealth soon recognize that sharing ownership and control of family assets is far more complicated than any family might expect. Sharing ownership and decision-making with o
Fostering effective communication and gaining consensus in the family governance and estate planning/execution is never an easy task.
The vast majority of the wealthy actually come from middle-class or working-class backgrounds.
Wealth brings vast opportunities to families, but also vast challenges. Families wish to motivate children with wealth and to foster independence vs.
According to the Substance Abuse and Mental Health Administration's (SAMHSA's) National Survey on Drug Use and Health in 2006, 23.6 million persons aged 12 or older needed treatment for an illicit