Succession, is not a goal; it is a journey. The road to succession of a family business may be long but there are others there to 1. help, 2. support, 3. guide, 4. reflect. The natural person with whom you can discuss succession with would be your consigliere. More about your consigliere here: Identifying a […]
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Do you have the responsibility to raise children (could now be adults) so that they are prepared to inherit wealth? A mere $ 42 trillion will be passing to the next generation in the next 20-30 years. If you do not take active steps to get them ready for the responsibility that wealth brings, then how will these children otherwise get prepared? Many parents try to raise their children and share their values. Do you as parents also talk about financial literacy?
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Life is short so take advantage of the time that you have. Make sure you pause to savour the moment and the precious time with the people who really mean something to you. Why am I so reflective? Three people who I thought I knew reasonably well, have passed on, unexpectedly, right in the prime […]
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Succession can be all about the end goal which should be an orderly transition of governance and wealth of the family enterprise. However, the terms of how a successful succession plan can be effected is better understanding between the generations. This can be accomplished by spending time and listening to the views; not necessarily accepting […]
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Wealth is not to be taken for granted and it is our job to educate our family members about the responsibility of wealth. We have been very fortunate to have lived through some of the most prosperous growth periods in history. This has afforded us the luxury of offering to our children a lifestyle without […]
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