Having had some family members recently pass, I have found that the truly valuable non-monetary assets are either not easy to find or not readily available when your loved one has passed. These assets are “PRICELESS”.
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Governance, how decisions are made in the family enterprise Setting a governance policy for your family enterprise, that is clear, perceived as fair and most importantly communicated will go a long ways to helping your enterprise make effective and supported decisions. The communication piece around the decision making methodology (write it down) to all stakeholders […]
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How can you open the conversation around succession and your future retirement from the business with 1. your spouse 2. your family members 3. your employees Let’s first focus on your spouse and family. First your family should be part of the journey to this time of the development of your business. They have provided […]
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How does your company determine its dividend policy for its owners? Or as many companies do, the decisions on dividends are often made on an ad hoc basis. As a company becomes more mature with a regularity of earnings, planning for dividends both to set and meet shareholders’ expectations is part of a succession plan’s communication strategy.
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We have all heard of pre-nuptials in high profile family and especially Hollywood marriages and more often after a star’s divorce happens. A pre-nuptial agreement also can be necessary in a family business, where the family wants to ensure that the business and enterprise stays within the family, whether or not one of the children’s […]
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