For Families of Wealth

family_system_optA healthy and vibrant family life can be difficult to achieve, maintain, and perpetuate… particularly for families of wealth and business.

A family governance system can help you successfully navigate the challenges faced by today’s families and businesses. It provides the structure that is inclusive enough to serve the current generation and flexible enough to accommodate the needs of future generations. It becomes the “glue” that unites the family. The Constitution and Family Council can position your family to thrive—now and in the future.

T he Da Vinci Method ® builds family peace, harmony and generational continuity using a Family Life Office System® that defines and grows individual and family capital and currency. Your Family Life Office® will simplify and manage the complexities of wealth and life through a structure that enhances your control, flexibility and convenience.

F or an overview of the realms and elements that comprise Da Vinci’s “Family Business System,” view the graphic below.

Here is a partial list of Da Vinci services provided to individuals and families.

  • Life Plan Development
  • Life Office ® (Private Family Office) Development & Support
  • Private Family Trust Company Development & Support
  • Family Constitution Development & Support
  • Family Council & Sibling Partnership Development & Support
  • Family Meeting & Family Retreat Facilitation
  • Philanthropic Plan Development & Support
  • Conflict Resolution
  • Coaching & Mentoring
A Family Life Office® is an organization that is created, often after the sale of a family business or realization of a significant liquidity event, to provide the means and structure to perpetuate the family’s vision, values, and capital–human, intellectual, financial & social–over multiple generations.The Life Office® operates under the principles expressed in the Family’s Constitution which is developed and supported by the Family Council.The Life Office®, the Family’s Constitution, and Family Council combine to sustain and perpetuate healthy human development and family relationships that serve as the foundation for successful living.
How can a family define itself and sustain its essence for more than three generations? Family Governance is a multi-generational management technique designed to ensure that your family’s history, values and wealth extends well beyond the typical two generations.Family Governance is a dynamic “social contract” among family members who acknowledge specific shared family goals and values by which each voluntarily agrees to abide.Major components of a family governance system include:

  • Family Constitution;
  • Family Life Office® and/or Private Family Trust Company
  • Family Council, Sibling Partnership and Cousin Consortium;
  • Periodic & Annual Family Meetings
  • Philanthropic Plan & Related Entities

A private family trust company is a corporation formed to provide fiduciary services to a related group of people, in contrast to banking institutions established to offer similar services to a larger public.

While family trust companies are not new, recent changes in the law have made these entities far easier to create and to operate – much more accessible to wealthy families looking to preserve their fortunes far into the future.

Some key benefits include:

  • Maintain maximum control;
  • Liability protection;
  • Resolution of successor trustee issues;
  • Convenience and accessibility;
  • Efficiencies;
  • Improved family governance;
  • Administer and operate illiquid family assets in trust;
  • Privacy;
  • Better informed trust distribution and investment decisions;
  • Efficiently integrates with your own Family Office and all outside advisors; and,
  • Broader fiduciary powers to operate in the best interest of the family and beneficiaries

If you would like more detailed information about the value of a Private Family Trust Company, please click HERE. The article has been highlighted for your convenience.

DVGC Family Business System v2.5