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New findings in brain science and neuroplasticity provide clues on how to create and sustain better leaders, especially within family enterprises. Consider some of the roles and functions we commonly associate with effective leadership in such enterprises: clarifying vision; leading change; creating strong connections between disparate groups; maki...

For insights on integrated wealth planning, this issue of The Advisor presents a view from the top with Joe Kahn, The New York Times Managing Editor, the impact of globalization 2.0, and the U.S. presidential election 2016 and the candidates’ tax platforms. Also in this issue are the best practices in providing age-appropriate transparency wh...

The American Tax Payer Relief Act of 2012 (ATRA) was passed on New Year’s Day 2013, and established the first permanentset of estate, gift and generation skipping transfer (GST) tax provisions in 12 years. Each year, the administration puts forth tax proposals that may change the current law. This article provides a quick summary of sev...

Having an entrepreneurial culture can help nurture a family legacy by providing pathways for family members to invest in new enterprises and regularly recharge the wealth for future generations. Although it may be challenging to re-energize a family, a dynamic culture of growth can flourish within a thriving entrepreneurial ecosystem. A family inte...

Pitcairn and The Corporate Greenhouse have co-written a case study that validates why talent planning and business planning are equally important and interdependent. The case study discusses how Pitcairn’s CEO is transforming a 90-year-old family business into a high-performing multi‑family office with increased profitabil...

This Family Business Corporate Governance Series "What is a Board's Role in a Family Business?" explains how to build an effective board for your family company, and how boards can assist with some of the particularly challenging issues family companies face. This module discusses why you might want to evolve or ch...

Boards can assist with some of the particularly challenging issues family companies face. There are several different factors that should be considered as a board is created or renewed. While each family company’s situation is unique and every scenario cannot be addressed, the goal is to provide a framework of how corporate governance practic...

Family businesses that continue to prosper from one generation to the next often do so because they have robust governance structures. Nevertheless, many family businesses have not given enough thought to governance. They rely too much on a carefree attitude toward issues such as succession, ownership and management, and they wait until one of...

It is easy to understand why the American underclass has almost insurmountable obstacles to living the American Dream. What may not be so obvious is how difficult it may be for the wealth inheritor to live the American Dream.

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.

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.

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.

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.

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 s...

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 p...