(Online Via Zoom) Family Trusts and Family Harmony

Asian families value harmonious family relationships. And they often think that setting up a family trust will preserve family harmony. However, whether there is harmony or not is a question of the culture of the family. When a family sets up a trust structure, this might be helpful in that it can provide for clear roles & authorities. However, there is a saying that “culture will always eat structure for breakfast”. Creating a trust structure is not sufficient by itself to impact on the culture of the family in a positive way.
Therefore, what are some practices that families can put into place, with the help of their trustees and advisers, to create a family trust structure that is aligned with their culture and that can be used to invest in supporting a more positive family culture?
Two useful references which will be relied on in the webinar are: (i) Family Wealth Keeping It In The Family by James E. Hughes Junior and (ii) Family Trusts, A Guide For Beneficiaries, Trustees, Trust Protectors And Trust Creators by Hartley Goldstone, James Hughes and Keith Whitaker.

Detailed Information

Highlights of the course include:

  • A checklist of principles and practices to apply to design new trust structures as well as to existing structures to invest in family harmony and family human capital
  • Making family harmony an enacted family value, not just an espoused value
  • Family Trusts vs Family Systems
  • The importance of working with both culture and structure
  • Developing collaborative skills within the family
  • Making family learning and development an ongoing practice
  • Understanding conflict in the context of a family enterprise
  • Building a collaborative multi-disciplinary team of advisors

Registration Conditions

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