Family council documents provide purpose and structure

Developing a family council checks a lot of boxes for a growing multigenerational family business. A family council provides a mechanism to engage and educate family members in a setting that includes positive social bonding time. Councils are a mechanism to define and address the “business of the family,” reduce conflict and promote positive social experiences associated with the business. They also encourage family interaction across branches and generations.

Already a subscriber? Sign In

About the Author(s)

Related Articles

KEEP IT IN THE FAMILY

The Family Business newsletter. Weekly insight for family business leaders and owners to improve their family dynamics and their businesses.