If you are helping a family to consider the creation of a family constitution, or if you are an advisor involved in helping a family through the process of creating one, then an important question to ask yourself and your client family is “what kind of family constitution are you going to create?”
The concept of creating a formalized written family constitution has become generally accepted as representing a key best practice for family enterprises (especially those involved in a transition). As such we should now be at the stage where we can move past the question of what are the benefits of developing a family constitution to a more detailed analysis of common family constitution “archetypes” – basic models or patterns that can often be recognized.
Mr Edward Ruckland T.E.P, Chirman, STEP Worldwide,
Ms Linda Wong, Chairperson, STEP Singapore,
Ladies and gentlemen,
First, thank you very much for inviting me to be your keynote speaker. I am delighted to have this opportunity to address this gathering of STEP members and practitioners, and I would like, in particular, to welcome our overseas guests. The important work that STEP members do in helping families to plan for their future, such as the management of assets and the protection of vulnerable family members, is widely acknowledged. Supporting families and protecting vulnerable members of our society are also important issues which are close to my heart. Today, I would like to share some insights about the framework and infrastructure in Singapore that will support this kind of work.