Families are very special parts of our society, especially when they can work together toward common goals. In fact, the ability of generations to work together can be a true wealth-producing machine. It requires a very long-term view, excellent family dynamics, and a little bit of education and “starter wealth,” but if done properly, it can be far more powerful than any other personal finance concept. This is where proper organised Family Governance can help.
LawTrust Swiss has experience of variety of approaches to governance and dynastic planning. For us family governance is the decision of a family to agree on how they will communicate with each other in order to manage family’s assets and wealth and save them for future generations.
Families need to agree how to handle the family assets, what the assets mean to them and what sense and purpose the assets have. It is a question of finding an understanding within the family based on common values. This then forms the basis for managing the family assets and should make it possible to find solutions to any conflicts within the family. We guide and support the financial lives of select families that are invested in the accumulation, management and transfer of their wealth.