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Book Details
Abstract
The resilience of family businesses has been evident from their success over centuries and across continents. It remains common for practitioners to advise families whose principal source of wealth is or has been a successful family enterprise, and to provide guidance on the specific and complex relationships and issues that arise in this context.
This new edition, edited by the Society of Trust and Estate Practitioners (STEP), features chapters by leading practitioners in the field, including the Family Firm Institute, Schroders, Boodle Hatfield and SandAire, Kleinwort Hambros, Dixon Wilson and Rathbones. The book considers what makes business families and family businesses unique, and examines the issues that advisers are often called upon to consider and address when assisting them. It helps practitioners to deepen their understanding of how families operate, and to develop the skills and knowledge necessary to advise on such complex areas as conflicts between working and non-working family members, ownership structure, succession, wealth management, governance and meeting a family’s philanthropic objectives.
The guide provides a comprehensive handbook for all practitioners who advise business families, including lawyers, accountants, financial advisers and wider family business advisers
Table of Contents
Section Title | Page | Action | Price |
---|---|---|---|
Cover\r | cover | ||
Title\r | 1 | ||
Copyright | 2 | ||
Table of contents | 3 | ||
About STEP | 5 | ||
Foreword | 7 | ||
Family businesses and business families | 9 | ||
Roles, relationships and responsibilities | 21 | ||
Understanding the business family | 33 | ||
Building a family business advisory team | 45 | ||
Philanthropy and private charitable foundation readiness | 55 | ||
Establishing the family business | 71 | ||
Structuring the family business | 87 | ||
Preparing for transfer of ownership | 101 | ||
Rewarding and incentivising non-family directors and employees | 119 | ||
Succession planning | 131 | ||
Entrepreneurs within the family: encouraging entrepreneurship and innovation | 149 | ||
The challenge of family wealth | 161 | ||
Governance and management | 177 | ||
Extracting wealth from the family business | 189 | ||
Selling the family business | 207 | ||
Family business: dealing with conflict | 225 | ||
Managing succession,managing wealth | 247 | ||
Protecting ‘family wealth’ –\rthe changing landscape | 265 | ||
Tax and corporate governance for family companies | 273 | ||
Sophisticated reputation management for families and their businesses | 283 | ||
Social and ethical investing | 295 | ||
About the authors | 309 |