As families and business grow and become more complex, family governance structures are created to ensure the success of the family enterprise and the preservation of the family and its legacy. But, how do you ensure the success of your governance plan? From practical aspects like running effective meetings to keeping the family engaged while they pursue their lives and dreams elsewhere, this webinar explored the essential components of effective governance, such as:
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As we age physically and mentally, our ability to care for ourselves and capacity to manage family affairs often diminishes – sometimes unexpectedly and rapidly. This presents significant problems that next generation family members and family office executives must manage under very stressful circumstances that can change day-to-day. In addition to the types of care one requires, there are myriad legal, financial, and personal matters that must be delicately addressed and thoroughly planned for.
Talking about wealth is every bit as important as creating a technical wealth plan—if not more so. Preparing a wealth transfer plan without helping your loved ones understand how to manage those assets in their own lives leaves the true process of sharing wealth incomplete and subject to real, but avoidable, risks. In this guide, you’ll find ways to have productive conversations that give your loved ones a clear understanding of what financial assets they will receive and how to manage them well.
National Center for Family Philanthropy recently spoke with Bill Leighty about how he’s helped keep the Leighty Foundation’s memories alive by recording its history. While many foundations use external production companies, Bill created his family’s legacy videos himself—using his own technological know-how, video equipment, and dedication.
Families blessed with significant financial resources can make an amazing and long-lasting impact on the world. But that wealth can also lead to disagreements, grudges, and hurt feelings. Trying to hide from the conflict does not make it go away. The best thing a family can do is create a culture of open, honest conversation about the impact their wealth can have, as well as the pitfalls. Communication is therefore one key factor in sustaining wealth for generations.
FOX Foresight keeps members up to date on the latest thinking on matters that affect enterprise families. It summarizes what we have been learning from our members and our subject matter experts over the last year. Please share it broadly within your family, your office, and your advisors.FOX Foresight is presented in 7 chapters:
The results of the U.S. Family Business Survey findings brought out the importance of being prepared to compete in a far more digital economy. Family businesses have built up trust among loyal employees and their ownership group. So how to turn values like loyalty and hard work into a multi-generational success story?
Decision making for a family enterprise is complicated and there is typically not an absolute right or wrong answer. Even when a family is on board with a shared vision of what they want to accomplish with their wealth, how do you bring them together to make the decisions needed to get there? Following six recommended steps, a family enterprise can be successful with their decision making.
Family members from all generations are hungry for clarity on how to navigate the financial and emotional complexities of wealth. In order to do this well, families need leaders—all kinds, from all generations. Come to this session to learn how one Chief Learning Officer within a multi-family office helps families develop leadership skills that are pragmatic and cross-generational. Good leadership is easily identifiable when it is present within a family system, and often overlooked when a family lacks the skills to cultivate its own leaders. What do families need now? Leadership.
Engaging a coach can be an effective way to develop your leadership, engage your teams, and accelerate your career development. In this interactive session we will explore your understanding of coaching as a mindset, a skill set, and a resource for Rising Generation family members. Coaching can help you unlock your leadership potential, whether it is through peer coaching or working with a professional coach.Austin McDonald, President and COO, McDonald Development CompanyGreg McCann, Founder and Principal, McCann & Associates