Forming a Family Council: Roles, Responsibilities, and Structures

For business owning families, family councils offer opportunities for members to be involved with both the family business and the family system itself. A council can provide structure that helps members productively manage the strengths, challenges, and tensions that arise when a family has both an active operating business and multi-generational wealth. However, many leaders remain unclear about how to design and manage the “right” type of council for their family’s needs and priorities.