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Governance for Family Legacy Assets

Operating companies are often at the forefront of succession discussions and shared decision making in the family enterprise, and rightly so, it does generate the cash after all.

However, many family enterprises own significant assets in addition to the company and many of these assets have far greater rewards than merely financial returns. Non-financial values arise in different circumstances and can often be more rewarding than money. Take the family vacation home for example – a place where families come together and relax, where memories are created over generations. 

In this article for WealthManagement.com I discuss why legacy assets, such as vacation property, land, artwork, collections etc… must be considered in their own right, alongside planning for the family business.

Click here to read the full article on WealthManagement.com

On the topic of legacy assets you may also find an article I wrote for Estate Planning offers further food for thought - Vacation home succession planning can be serious business