Strengthen Your Family Business With a Family Governance Plan

Overview

Most family businesses take on the characteristics of their founder or founding family, especially in their formative years. As the company grows, the family expands and the founder begins to transition ownership and control to future generations, the need to establish effective models for cooperation and joint decision-making among family members becomes more important. A governance plan can help families recognize and manage their wealth, define roles, set boundaries for individuals and enable members to manage competing and interrelated interests.

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