The challenges of perpetuating wealth and enterprise across generations—with the breakdown of governance as a key factor—are well researched and documented.1 To better understand the true role of governance in the family system, look to the definition that originates from the Latin verb “gubernare,” which means to steer or to direct.2 Families who desire their family wealth or enterprise to endure often grapple with how best to steer the enterprise in a way that perpetuates multi-generational longevity, especially during key transitions and periods of succession. Yet many different forms of governance impact the family system, each requiring different strategies and skillsets. From corporate governance or how businesses are controlled an...
Author
Kirby Rosplock is founder and CEO of Tamarind Partners in Boca Raton, Fla.
