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ARTICLE · 24 JUNE 2010

Family Constitutions - How to Prevent Problems Before They Happen

Swaab Attorneys
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Running a business is hard enough without the additional pressures of family issues and generational changes. A family constitution can resolve these issues before they occur, and ensure that business matters and family affairs are aligned. Swaab Attorneys can show you how to implement a family constitution and take some of the strain out of your family business.

AustraliaCorporate/Commercial Law
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In brief

Successful development of a family constitution can help to ensure the prosperity and longevity of a family business. A family constitution encapsulates the values, beliefs and objectives of the family and defines the relationship of the family to the business.

What is a family constitution?

Running a family business is hard enough without the additional pressures of worrying about the outcome of generational change. A family constitution can assist with ensuring business matters and family affairs are aligned and will help your family deal with generational changes constructively.

Also known as a family creed, family charter or family agreement, a family constitution is a document which supports the family business. It sets out the values and principles that underlie the conduct of the business, defines the strategic objectives of the business and sets out the way in which the family makes decisions affecting the ownership and management of

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