Pathway to successful family businesses and wealth management.
Family businesses can present unique challenges for trustees required to work with clients who have strong personal investment in the future of a long-standing family institution or who have laboured to ensure it thrives. Trustees may find that beneficiaries have different aspirations for the future of a family business or that conflict arises from ‘insider-outsider’ syndrome in which an obvious difference in access to a company’s control further exacerbates the situation. In worse-case situations beneficiaries may lose their livelihood should a family business be altered.
In this seminar, our speaker, Dr. Wong Jeh Shyan explores diverse trust structure options for family businesses and identifies points that may cause contention between trustees with varying levels of involvement in the business.