Family governance

Family governance concept became popular in the 20th century and is related to the transition of family business ownership and management and promoting family values throughout generations. The main purpose is to attract, educate and involve family members of various generations into running the business or managing family wealth to ensure the continuity of the business strategy and preservation of wealth. Each family governance strategy is unique, reflects the needs of this certain family and helps to build efficient decision-making mechanism to limit potential conflicts between family members. However, most of the entrepreneurial families of the former soviet states have not yet approached any governance strategy and have no decisive business succession plan. This may unfortunately have negative impact on the relationships between family members or may eventually result in the loss of business when the patriarch steps down from managing business affairs.   

MP Part can support our clients in understanding of the family governance tools, their objectives and operation. We will discuss with you the family situation, the solutions available and assist in gradually implementing the most suitable instruments to ensure better awareness of the matter easier transition of family business and wealth to the next generation. Our services include:

  • assistance in formulating and implementation of a family governance strategy;
  • support in formulating the basic principles and family policies;
  • compiling and coordination of the action plan related to family awareness of governance matters;
  • establishment and assistance in administration of business owning private family foundations.