Will the Circle Be Unbroken? Issues Arising from Holding Family Businesses in Trust

Tags:
Asset Management,
Business Operations,
Family Business,
Finance,
Financial Planning,
Genus Resources,
Operational Planning,
Quality,
Taxes
Source:
Genus Resources

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Overview: Family businesses are placed in trust for financial, tax or estate planning purposes, to ensure professional management of crucial family assets or to ensure continuing family control of the business. The benefits of each of these purposes for placing a family business in trust are well understood. In particular, control over the business is separated from beneficial ownership. The differing standards create tension between one of the fundamental purposes of a trust, to preserve family wealth, and the fundamental purpose of a business, to accept risk in exchange for prospects of enhancing the value of the stockholders' investment. These standards constrain the trustees and directors in making decisions such as those faced by The Boston Globe and the Taylor family. Read to know more on this issue.

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Format: HTML | Date: Jan 2003 | Pages: 1

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