Family & next generation governance

For wealthy families planning for the next generation involves more than transferring assets. It may also require a clear framework for education and readiness, decision-making, ownership, leadership and the involvement of family members over time.

We advise families and family offices on governance and succession arrangements designed around their circumstances, values and longer-term objectives.

How we can help

As families grow and become more internationally connected, their priorities and responsibilities may become more varied. Family members may live in different jurisdictions, hold different views about the family and the family wealth, and have interests in businesses, investments and assets held through several structures.

We work with families and their advisers to consider governance arrangements that reflect these circumstances. Our advice can include:

  • Family constitutions and other family governance frameworks
  • Succession planning across generations
  • Preparing the next generation for ownership and leadership
  • Defining family members’ roles and responsibilities
  • Policies and frameworks for family members working within the family business or family office
  • Employment and remuneration arrangements for family members and senior executives
  • Next generation entry into, progression within and exit from the family business
  • Family councils, boards and other decision-making structures
  • Ownership, voting and decision-making arrangements
  • Conflict-management policies and mechanisms
  • Governance of family offices and family investment structures
  • Trusts, foundations and other wealth-holding structures
  • Frameworks for distributions and access to family wealth
  • Philanthropy and wider family legacy planning

Supporting the next generation

Families may need to consider how the next generation will participate in the ownership or management of family wealth and businesses, and how they can prepare for the responsibilities involved.

We help families consider frameworks for future leadership, ownership and decision-making while recognising that family members may wish to take on different roles or levels of involvement.

Family governance and decision-making

Clear governance arrangements can help families establish how decisions are made, who is responsible for particular matters and how family members communicate with one another.

We help families develop and formalise roles and responsibilities and develop mechanisms for communication between family members, family offices, businesses and other stakeholders.

Planning for the long term

Each family has its own relationships, values, assets, businesses and ambitions. Governance arrangements should reflect those differences rather than apply a standard model.

We work to understand what the family wants to preserve and achieve, then help develop practical arrangements that can be reviewed as the family and its interests evolve.