Need advice for your family business?
Many of our clients have devoted their lifetimes to building up a family business.
They want to involve their children and eventually pass the business on to them, all the while maintaining harmony within the family.
Sometimes this isn’t so easy. Separating out the family matters and the business matters can be difficult, and Millens’ experience and knowledge can help.
Millens can:
Help you establish and guide a family forum
Help you develop and prepare a family constitution
Guide you through strategic planning and structuring for your family business
Advise you on employment and other arrangements for children and other family members
Advise you on asset protection and risk management strategies
Give you guidance on inter-family generational transfers and estate planning
Help you establish trusts, and prepare your trust deeds and variations
Advise you on vesting and splitting trusts and changing trustees
Give you advice on corporate structures and family assets
We can help you achieve a successful business and a functional, harmonious family situation by providing trusted advice for all members of the family.
Talk to one of our Family Business team.
need some help?
Frequently asked questions
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Yes we do. We know that such families value their privacy so we cannot mention any names, but we advise several families across 3 generations. We have the experience and skills to work with you, whether it’s advising on investments, dealing with a portfolio of assets or guiding a family though business succession issues. We also understand and advise families with asset protection, family meetings and constitutions. We are a trusted adviser to ensure fairness and equity within family groups.
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Nothing causes greater damage to a family and its underlying wealth than disharmony between parents and children or between siblings. Sometimes different treatment between children cannot be avoided, but different treatment does not mean unfair treatment. In these circumstances the value of the family business should be independently determined and the same benefits provided to other children. Where this is not feasible, a family needs to carefully consider the distinct roles between family members owning a business and family members working in a business who receive a salary and other benefits that an arms-length CEO or other senior executive would receive. With experience gained from assisting many families with similar issues we can guide you through this process to ensure fairness and equity between all family participants.