Family Governance
Overview
Although high-net-worth families and individuals recognize the importance of instituting formal family governance structures, doing so presents a complex task. For families who are committed to creating a flexible and durable system of governance, the benefits are lasting.
Where To Begin
Family governance need not be an oxymoron. Instead, it can be an opportunity to establish a conscious family governance system that can help create an efficient and rewarding means of ensuring your enterprise family's viability for generations to come.
By starting with the best governance practices and moving forward with a shared vision and purpose, families will be better able to navigate many of the challenges that have historically befallen families of wealth.
Curated Resources and Best Practices
For members of the FOX community, the curated resources here are part of the Family Governance toolkit—which includes a brief overview and access link for each listed resource—that can be downloaded for future reference and further discussions with your family members and trusted advisors.
Best Governance Practices
- Family Governance: Oxymoron or Opportunity?
- Family Governance: A Key to Maintaining Your Legacy
- Effective Governance Strengthens Family Unity and Builds a Lasting Legacy
- Family Governance: A Best Practice Framework for Maintaining Family Connectivity, Collboration, and Continuity
- The 25 Best Practices of Multi-Generational Families
- FOX Foresight 2024: Helping Families Achieve Consensus When Making Critical Decisions
- Family Case Study: The Tsotsorkov Family, Empowering Visionaries (forum session replay)
Family Charter or Constitution
- Should You Have a Family Constitution?
- Drafting a Family Constitution That Results in Unity and Purpose (podcast)
- Crafting a Family Charter to Ensure Family Engagement (forum session replay)
- The Six Most Contentious Parts of a Family Constitution
Family Meetings
- Family Meeting Handbook
- The Secret to Family Meetings for Wealthy Enterprise Families
- Planning Family Meetings for Maximum Family Impact (webcast)
- Family Retreats: Learning, Engagement & Fulfilment for All Family Members
- Should We Have a Virtual Family Meeting?
Family Communication and Channels
- How To Talk with Your Family About Wealth
- Wealth Management is a Family Affair
- Strengthening Family Communication and Education
- Cross-Generational Communication: Are You Up for the Challenges?
- You Cannot Not Communicate: The Importance of Family Communication
- Have You Had "The Talk" with Your Kids? (No, not that one. The one about your estate plan.)
Family Leadership Succession
- FOX Foresight 2023: Successful Leadership Transition in the Family Office
- An Optimistic Outlook for Family Transitions (forum session replay)
- FOX Foresight 2022: Preparing Rising Gen for Leadership
- Succession Stories: Lessons Learned from Former Family Office CEOs
Governance Structures
- The Why, What, and How of Family Governance (webcast)
- Effective Family Governance: Professionalizing the Board (forum session replay)
Reputation Management
Family Governance Tools, Templates, and Consulting
- FOX Member Templates are provided as tools that can help meet your family office governance and service needs. See also the templates that include examples of family mission statements and service agreements for additional guidance to assist your family governance, legacy, and leadership goals.
- FOX Consulting is available for families seeking tailored advice and solutions to meet their unique needs.
For more expert insights and guidance on other topics of interest, explore the full collection of Resource Toolkits.