Founders of family businesses have a strong sense of family values, and one of their dreams is to continue to preserve both the family and business heritage and see the next generation continue and fulfill the family’s vision;
Have you considered what would happen if, heaven forbid, you were not able to make decisions as the business’s founders?
Did you imagine that you, as the founders of the family business, could be dispossessed of it ?
And what will happen after you pass on? If and when family conflicts arise, how will they be handled?
What will happen if your son gets divorced, while his wife holds a key position in the family business, which you worked so hard to establish?
For complex issues such as these, solutions of “both-and” are needed – an integrated approach – on the one hand to the business-legal side and on the other hand to the personal-emotional side of the family members. We believe that the correct timing, procedure, and professional accompanying you will preserve the family business and keep it functioning, efficient, and growing for years.
Our extensive experience shows that Hazard identification that family businesses are subject to, along with the intelligent use of training, managerial, organizational and legal tools, can help the survival and prosperity of the family business over the years. Proper and timely preparation for the future , As well as Communication and discourse True in general and in times of conflict or crisis in particular, they are the main elements needed for your family business to survive for generations.
Beyond that, making forward-looking arrangements, arrangements that will prevent unnecessary disputes and wars between the children and disputes outside the family requires studying and getting to know the family business and the family unit involved in it. Knowing the wishes, concerns, fears, and desires of the founding generation and the rest of the family is crucial. In order to carry out the “both-and” approach in the best way, we prepare the necessary legal documents to anchor the agreements and arrangements concluded.
Mor & Co.,Law Firm
Generally, family “constitutions”, “treaties” or “regulations” provide the framework for combining organizational and legal support in dealing with the aspects of the family business. Beginning with a vision and a path, and ending with answers relating to family members who do not work in the business. These answers relate to the compensation method for family members who are employed in the business and those who are not, The manner in which family members are employed in the business and the criteria for leaving/retiring, the method of distributing profits, the criteria for appointing an external CEO, the manner in which decisions are made among family members, Distribution and sale of shares, management of family capital and family funds, as well as a number of other matters are determined by the individual path and needs of each family.
Trust mechanisms, financial agreements, drafting a will / mutual will / smart wills, establishing principles that will bind the other family members to the value of financial agreements
Preserving family happiness and wealth is a complex and challenging task. Dealing with business challenges alongside emotional challenges is what makes the complexity multiplied and multiplied. As such, mediation can be useful in resolving conflicts in such cases without harming the composition and functioning of the family can be an excellent solution! This can be a very effective solution. All types of mediation are handled by our firm, including mediation between spouses, siblings, parents and children, partners, etc., as well as mediation between buyers and sellers, mediation for designing intergenerational arrangements, and many others. .
The intergenerational transfer process should take into account personal, managerial, and financial aspects, choose a successor, set deadlines for handing over the reins, establish checks and balances, consolidate other family members’ status, and determine how to maintain the founder’s status….
May the Blessing of Jerusalem be with You ❤️
Mor & Co. Mor & C0. Law Firm & Notary © 2011 All Rights Reserved
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