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Vol 21 No 9 Sept/Oct 2016

Book of the Month

Cover of Goode on Commercial Law

Goode on Commercial Law

Edited by: Ewan McKendrick
Price: £170.00

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Business Families and Family Businesses: The STEP Handbook for Advisors

Edited by: Ian Macdonald, Jonathan Sutton

ISBN13: 9781905783250
Published: June 2009
Publisher: Globe Law and Business
Country of Publication: UK
Format: Hardback
Price: £114.00

Low stock.

The resilience of family businesses has been evident from the success over centuries and across continents. It remains common for practitioners to advise families whose principal source of wealth is or has been a successful family concern, and to provide guidance on the specific and complex relationships that arise in this context.

This new guide, edited by the Society of Trust and Estate Practitioners, features chapters by leading practitioners in the field, including the Family Firm Institute, HSBC Private Bank, Boodle Hatfield and SandAire. The book considers what makes business families and family businesses unique, and examines the issues the advisers are often called upon to address when assisting them. It helps practitioners to deepen their understanding of how families operate, and to develop the skills and knowledge necessary to advise on such comlex areas as conflicts between working and non-working family members, structure, succession, wealth management, governance and meeting a family's philanthropic objectives.

The Guide provides a comprehensive handbook for all practitioners who advise business families, including lawyers, accountants, financial advisers, and wider family business advisers.

Company Law, Wills and Probate
Society of Trust and Estate Practitioners (STEP) Preface Foreword
Part I: Setting the scene
Family businesses and business families

Part II: Advising the family business
Roles, relationships and responsibilities
Understanding the business family
Building a family business advisory team
Philanthropy and private foundation readiness

Part III: Stages of the family business
Establishing and growing the family business
Structuring the family business
Preparing for transfer of ownership
Rewarding and incentivising non-family directors and employees

Part IV: Succession, reconstruction and reorganisation
Succession planning
Entrepreneurs within the family: encouraging entrepreneurship and innovation
Preparing the successor generation

Part V: Governance and management
Governance and management

Part VI: Extracting wealth from the business
Extracting wealth from the family business
Selling the family business

Part VII: Tools and techniques
Conflict management and dispute resolution
Estate Planning
Managing succession
Managing wealth
A 10-step programme for protecting family wealth

About the authors