Principal decision rights
Define reserved matters, delegated authorities and the decisions that require direct principal approval.
Family governance
Clear authority. Thoughtful participation.
Governance establishes how material decisions are made, recorded and revisited—without compromising the authority of the principals.
The purpose
Structure supports trust.
Family governance is the practical architecture that connects authority, participation and accountability. It gives the family a shared way to prepare, decide, communicate and retain institutional memory.
The office helps the principals define the process, prepares the information required for good decisions and keeps the record. Authority always remains where the principals place it.
Governance architecture
Roles that are understood before they are tested.
Clear mandates
Record who may decide, recommend, execute or receive information—and within which limits.
Family forums
Create appropriate settings for information, discussion and participation without confusing voice with authority.
Committees & advisers
Use specialist bodies where useful, with defined terms, reporting lines and conflicts protocols.
Decision record
Retain agendas, papers, approvals, minutes, actions and the rationale for material decisions.
Governance renewal
Revisit the architecture as the family, assets, jurisdictions and responsibilities evolve.
Decision process
Prepared well. Decided clearly. Recorded faithfully.
Frame
Define the decision, authority, timing and consequences.
Prepare
Assemble facts, advice, options, trade-offs and recommendations.
Decide
Confirm authority, decision, conditions and next actions.
Execute
Assign ownership, milestones, dependencies and reporting.
Record
Retain the rationale, approvals, documents and follow-through.
Next generation
Context before responsibility.
Preparation is gradual, purposeful and directed by the principals.
- UnderstandingBuild context around family history, structures, responsibilities and the purpose of capital.
- CapabilityDevelop financial literacy, judgment, confidentiality and the ability to work constructively with advisers.
- ParticipationIntroduce observation, defined projects and graduated responsibilities at an appropriate pace.
- StewardshipEmphasize responsibility, productive purpose and continuity rather than entitlement.