Family Governance Plans – Enabling Enduring Wealth Planning Structures

When implementing a succession plan for wealthy families, one of the easiest parts is putting the structure into place but the hardest is making it endure through the generations.

It has long held true that wealth rarely survives three generations and there are many reasons behind this, most of which are inherent as families increase in size and the influence of the patriarch wanes.

The key to all enduring wealth planning structures is the separation of the economic enjoyment of wealth from its control. In England and other common law jurisdictions this has been achieved through trusts and their development over many centuries; civil law jurisdictions are relative newcomers, with the first foundations appearing in 1925 in Liechtenstein.