The recent news about George Chuvalo, Canadian boxing legend, is a sad tale of children from two marriages and a second wife and the wealth that he had accumulated over his lifetime. Most importantly, who gets this accumulated wealth? Later in his life he was not able to manage his personal affairs. Others stepped in […]
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Life together, family meetings An inevitable part of family businesses, is to retain the family part of the family business. How is this done? In my view, simple not easy….communication. Communication is something that many need continual prompting to ensure that it is regular, productive and constructive. One tool to facilitate communication is family meetings. […]
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Families in business seem to worry most about sharing their values, responsibilities, family stories, and know-how being passed on to the next generations. Most technically oriented advisors focus on transferring of wealth in a tax efficient matter which is important, but not much of that matters if other issues get in the way. Sometimes if […]
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A lot of the time, business and succession is focussed on profits, top line, bottom line and other financial metrics. One thing that we have to do is to understand the importance of the multiple human interactions that arise each day. This is our chance to connect, affect-touch other people and most importantly, have a […]
Read MoreWe have all heard the horror stories of seniors losing everything because they have relied on, and have been duped by, people who are in trusted positions. This week’s perspective looks at the warning signs that something may not be “right”. Background: The amount of wealth that is soon to be passed from one generation […]
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