Why Your Family Needs a Constitution Before It Needs a Lawyer (2)
In the corporate world, no serious business operates without a Memorandum and Articles of Association. These documents are the bedrock of Corporate Governance, defining roles, decision-making, and dispute resolution. Yet, when it comes to the most complex and emotionally charged "enterprise"— the family—we often leave its governance to unspoken assumptions, inherited grudges, and, ultimately, expensive lawyers. This is a critical oversight. Just as a nation needs a constitution to prevent anarchy, a family, especially one with significant assets or a shared business, needs a Family Constitution to ensure its enduring order. The "Unwritten Rules" Are Breaking Your Family Every family has rules, whether explicit or implicit. -Who makes financial decisions? -How is the family business passed down? -...