Resource Search

Transferring more than material wealth has become increasingly important in today’s world. Ethical wills are a key tools that enable you to transmit your values to the next generation with peace of mind. These kinds of wills may include your personal beliefs and philosophy, and even important family history.

The white paper, “Sudden Wealth: Managing the Transition,” provides helpful guideposts for handling new wealth, regardless of the circumstances – whether the wealth represents a recent windfall (the immigrant experience) or having control of a large amount of money for the first time (the inheritor’s experience). The paper highlights common examples of steps to take and to avoid, the typical reactions and emotions experienced by the suddenly wealthy, and a recommended timeframe for making decisions that focus on important personal priorities.

Family-run enterprises make up a significant portion of businesses within the United States. Because it is clear that many of these business-owners will be looking to plan their exit from the companies they have established, it is important that planners prepare for their role in the succession planning process. We’ve compiled a list of ten steps planners should adopt as their standard approach to attaining the perfect balance between pleasing the family and protecting the business.

The first in-depth exploration from our global family business survey, “women in leadership” shows that family businesses believe in the value of women in leadership overall, not only women family members.

EY teamed with Kennesaw State University and surveyed the world’s largest family businesses with a focus on seven success factors: succession; women in leadership; governance; communication and resolving conflicts; branding; corporate social responsibility, philanthropy and sustainability; and cybersecurity.

Wealth transfer planning is a complex process with an ever-changing set of risks, opportunities, and regulations. Subtle changes to wealth transfer techniques—including applying commonly used risk management and sophisticated planning strategies—can dramatically increase the likelihood of success and enhance financial results.

Whether public or private, successful businesses share some of the same concerns. Attracting and retaining talent, balancing growth and risk with profitability and adapting to economic changes are all essential. But the owners of private businesses face unique challenges, particularly when they decide to make changes in the ownership or management of the business.

Successfully transferring wealth to your heirs is a challenging but priceless undertaking. It is the result of careful, thoughtful planning and should not be taken lightly. The following article discusses some of the more important things to consider while making these valuable decisions.

Succession planning’s goal is to provide the least amount of disruption to your business and to give you the widest possible choice of qualified candidates before you make that decision. While the process may consider candidates from outside the family and the company, in many cases it focuses on managers who are already with the company. This publication discusses the board’s role in succession planning, which includes: