The concept of having or, indeed, needing governance rules within a family may seem incongruous, especially in Asia where the family unit remains strong. However, many families, particularly in Asia, understand the devastating effect that fragmentation of ownership, division in control, dispute and lack of controlled transition can have on the value of the wealth of a family as a whole.
In recent years, there have been many well publicised disputes within families that have been both reputationally damaging for the broader family, as well as detrimental to their wealth. These have arisen through an increased aggression towards claiming what certain family members believe is their entitlement to part of a families’ wealth – a view that may not be shared by the wealth generator or the other family members. This has typically arisen in scenarios of disputed Wills and divorce proceedings but can arise whenever there is lack of clarity about who is entitled to benefit and share in wealth.
Creating an effective platform for the governance and transition of ownership and management of the family wealth, so there is a clear understanding and expectation of how a family’s wealth will be owned, managed and distributed, is a critical factor to the on-going success of the fortunes of the family. Capital Solutions can help and guide you through the creation and implementation of a suitable family governance platform.
We look forward to finding the best solutions for your needs. Please contact us.