Publication details
Governance around family wealth: How to preserve a long-term value for families?
| Authors | |
|---|---|
| Year of publication | 2023 |
| Type | Article in Periodical |
| Magazine / Source | TRUSTS & TRUSTEES |
| MU Faculty or unit | |
| Citation | |
| Web | Open access časopisu |
| Doi | http://dx.doi.org/10.1093/tandt/ttad091 |
| Keywords | trust; governance; family charter; family office |
| Description | AQ3Preservation of long-term values has been a challenge for wealthy families over centuries. What is valuable to each family should not only be measured in financial terms but also in the context of family harmony, avoiding disputes, and ensuring a shared understanding of the family’s long-term goals. This article focuses on and explains some key mechanisms that can assist families in the preservation and enhancement of those long-term values and goals, from informal ones such as family mission statements to more formal arrangements like family charters. The authors offer jurisdictional comparison of examples as to how these approaches apply in practice, including discussion about the legal enforceability of family charters. |
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