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From Legacy to Leadership: The power of a family charter in succession planning

adminAugust 28, 202409 mins

Family charters, also known as family constitutions, serve as a fundamental document for governing family-owned businesses to ensure smooth succession across generations. These charters are crafted by promoter families to codify values, set guidelines, and provide a roadmap for future business continuity which can ultimately help in keeping family harmony. In this article, we will…

Budget expectation: Excluding family settlement from the rigours of anti-abuse provisions

adminJuly 17, 202407 mins

Within this framework, family businesses have flourished, leveraging not just financial capital but also familial bonds and shared values to achieve success over generations. Alongside the benefits of familial collaboration come inherent challenges, particularly the complexities arising from cross-holdings and intergenerational dynamics within family-owned enterprises. These complexities can lead to disputes over ownership, management control,…