THE CONTENTS OF A FAMILY CONSTITUTION. THE ARCHITECTURE WE BUILD WITH A FAMILY, AND THE CATALOGUE OF WHAT IT CONTAINS.
THE FAMILY
History, values and mission. The Family Archive and crest. The definition of family and the circle of its members. Roles, responsibilities, marriage and divorce.
FAMILY WEALTH
Wealth and the duties it places on members. Access, contribution, fairness. Healthcare and education. The human and intellectual components of inheritance.
FAMILY SECURITY
The Family Fund is a pool of liquid assets used as a platform for internal financing. An Entrepreneurship Fund. Lifestyle, distributions, principles of funding.
THE FAMILY BUSINESS
The enterprise around which the family is united. The transfer to the next generation. Members in the business, members outside it and non-family employees.
GOVERNANCE BODIES
The Family Council is an analogue of a Board. The Family Assembly is an analogue of a Shareholders' Meeting. Composition, cadence and the decisions each is empowered to make.
CONFLICT RESOLUTION
Mediation by a non-family moderator. Arbitration is a principled disincentive against public litigation. Exit from the family is voluntarily or by Council decision.
"BLACK SHEEP" PROTOCOL
Members whose personality can cause material damage to the family's wealth or reputation. The approach, the procedure and the protections on each side.
FAMILY POLICIES
Investments, dividends, education, philanthropy, material support, reputation, Family Office, compliance, PR, external advisors. The policies beneath the Constitution.
A FAMILY CONSTITUTION DOES NOT TELL A FAMILY HOW TO LIVE.
IT REMINDS THEM WHO THEY ARE.