Preparation heirs

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SpinPerceptie

When heirs are prepared for ownership of the entire family wealth (and business), will the wealth become the property of this new generation or do they have it on loan from the previous or future generation?

 

Manifest

The issues apply to owners of family (business) capital with a family office who want to successfully transfer the capital, in whatever form, to the next generation. These exceptional families are successful financially and commercially and in the development of future generations. They express their family values ​​in everything they do.

The starting point here is the family that defines the family as family. Each family defines its family differently. Sometimes there are adopted children, bonus children, children with no blood ties, no children, or relatives of a different bloodline that feel more like family than the direct blood ties or connections within communities that take over a family function. Every situation is different. Each family has traditions, beliefs, values, unwritten laws, family compositions and history.

The strategic management of family, wealth and business, in which the well-being and continuity of the wealth are of interest, takes place in the Family Council. The Family Council focuses on a generational line between thirty and forty. This Family Council outlines the contours for all boards associated with the family (business) capital. An important aspect is the development of a shared ethical compass. The main focus is that all family members, who are part of the family system, are involved in this process.

 

Issues

Issue 1 - Training about the asset allocations of the family capital

We provide training about the asset allocations of family capital knowledge, skills and decision making. You can buy knowledge, you can learn skills, but decision-making is just learning by doing.

  • Track 1: training, training, training. Regarding structure, performance and decision-making, in and outside of the family asset classes. In addition to acquiring knowledge, the focus is to ask the right questions and start a content dialogue.
  • Track 2: another part of the program focuses on strengthening the individual and collective identities of the heirs. The strength of the identities determines the depth they can give within a decision-making process to maximize continuity.
  • Track 3: in the last couple of years, it appeared that within families, multiple family members aim to play a part in the family's influential system of wealth and business. Based on knowledge, skills and ambition, we train different family members to become members in STAK, RvC, Foundation, Art Collection, company position, their own company, Family Office or in one of the asset classes.
  • Track 4: we pay attention to the balance between applying the principle of equality from a parent's point of view and the freedom of choice for the next generation. It’s a fine line between the space the next generation receives to shape their own lives while making their own decisions versus their family capital responsibility.

 

Issue 2 - Recalibration of the family capital about ethical concerns of the current or next generation

This subject is more critical than ever for family members. However, there's no manual on how to approach it. In summary, it is a creative process, and the chance of success will only become apparent when the last brushstrokes have been applied. Due to the complexity of the procedure, we have generically described the track information below.

  • Track 1: research the impact of the subject.
  • Track 2: design/execution of the emergency scenario for the current situation.
  • Track 3: determining the issue: are we still on the right track? Is the origin of capital matching the current or future generation? Is our view of life in line with the recent course of family capital, or do the relatives of the current and future generation want to start a completely different life and break free from these responsibilities?
  • Track 4: explain the issue by adding theoretical knowledge, timelines and other research.
  • Track 5: adding scripts and scenarios to the issue.
  • Track 6: testing of the preferred scenarios in several subareas.
  • Track 7: design of the transition phase.

 

Issue 3 - Family values (culture) as a foundation for the continuity of the family and family (business) capital

It is a valuable asset to anchor the continuity of the family (business) capital, legacy and history in a family culture.

  • Track 1: moral order of the family.
  • Track 2: translation into the family values and principles.
  • Track 3: creating a history line and future perspective.
  • Track 4: setting up or re-evaluating a collective family proposition – Family brand.
  • Track 5: translation to asset allocations.
  • Track 6: in case there's a family business: translation to a proposition, Business Brand and HR-perspective.
  • Track 7: setting up calculation rules – entitlement to the assets by all family members.
  • Track 8: setting up a tailor-made Family Culture Governance.
  • Track 9: translating the track 8 output to legal documentation guarantees the process, culture and appointments.