Communication
Family Governance
The system of joint decision-making and structures that families use to guide the management of their shared assets and business interests.
What is Family Governance
Family Governance is the system of joint decision-making and structures that families use to guide the management of their shared assets and business interests. It ensures alignment among family members, facilitates communication, and helps maintain family values and objectives across generations.
Components of Family Governance
Key components of Family Governance include family councils, family constitutions, and regular family meetings. These elements help establish clear roles, responsibilities, and processes for decision-making, conflict resolution, and succession planning.
Related Terms
Family Assembly
A gathering of all family members to discuss and inform about matters concerning the family enterprise and wealth.
ViewFamily Charter
A document outlining the family’s values, vision, and guidelines for managing wealth and business interests collectively...
ViewFamily Council
A governance body composed of family members that manages communication and decision-making for the family enterprise.
ViewFamily Office (FO)
An entity that provides comprehensive services to ultra-high-net-worth individuals and families for managing their wealt...
ViewFamily Governance
The system of joint decision-making and structures that families use to guide the management of their shared assets and ...
View