Family Governance refers to how a family plans and makes decisions as a family unit. It is a technique that helps in defining a family and sustaining its essence. It covers two broad topics governance of the business and governance of the family.
As families grow, they find that there is a need to formally discuss family issues like estate plans and family business leadership transition. It is normally done through periodic assemblies of the family, family council meetings and preparing a "familial contract".
It becomes essential to establish a clear family governance structure to ensure discipline among family members, prevent potential conflicts and ensure the continuity of the business. At VSM, we help you to ensure that your family's history, values and wealth extends well over the generations to come.