Previously, I wrote about families with businesses and issues surrounding succession to next generations.
For example, in my newsletter from the 17th of October 2024 about the Swedish Wallenberg family.
Isabel Woodford published an article about inheritance at the end of last month, January 2025. I am enclosing that article from the Financial Times "Would you leave your children out of your will?". It's not behind a paywall, so you can read it straight away.
In the United Kingdom alone, an estimated £5.5 trillion is expected to be inherited by the next generation over the coming decades.
"Heavy is the head that wears the crown", as the saying goes. Woodford's article advocates for a modest transfer of wealth to subsequent generations.
Even in families where substantial inheritances have been passed down for several generations, prosperity doesn't always sit well. Let alone expecting young people, who are barely or not at all prepared for the responsibilities that come with wealth, to handle it naturally.
For families with a - significant - business in their possession, it is more than worth the energy and time to carefully prepare this transfer. This preparation can take up to five years, to ensure that the responsibilities for the next generations do not lead to accidents.
Feel welcome to exchange thoughts on this matter, such as developing a vision on this topic that is widely supported within the family. The formulation of a family charter, creating and composing a stable, professional governance structure, STAK (Administrative Office Foundation), Supervisory Board, Board of Directors, etc.
Warm regards,
Aegeus
Comments