Category Archives: News

The Importance Of Family Values In The Family Businesses

The values of the family are often instrumental in creating a strong sense of identity for family businesses. These values are regularly foundational to running family firms.
In an international survey of 336 middle-market family firms, nearly three out of four senior level family member executives reported that there are clearly identifiable family values determining the way the business is managed. Moreover, nine out of ten of these family members say that these values were crucial to the economic success and other achievements (e.g., charitable efforts) of their family businesses.
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Most Family Business Owners Should Update Their Estate Plans

Family businesses are responsible for more than 70% of global production and are one of the principal creators of private wealth. Often critical to the continuity of the family business and to the perpetuation— if not enhancement—of family wealth is estate planning.
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When The Wealthy Divorce They Regularly Engage Forensic Accountants

Worldwide, the use of forensic accountants by the wealthy – especially the ultra-wealthy – is increasing. This is a trend that is likely to only accelerate. There are a number of different reasons the wealthy engage forensic accountants. Often, when the wealthy bring in a forensic accountant, it’s to address business concerns. The questionable practices of business partners might very well prompt the hiring of a forensic accountant.
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Transitioning Billionaire Family Businesses

The success of family businesses is critical to the success of the worldwide financial ecosystem. A key challenge for many family businesses is succession and, if not succession, the sale of the company. Over the next decade, across the world, the family businesses that have produced a sizable percentage of the super-rich (net worth of US$500 million or more) are going to have to address how to transfer control – management control and/or ownership control. Continue reading

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The Keys to Success As A Divorce Attorney

In a survey of 171 divorce attorneys, more than 85 percent of them reported they are in a “highly competitive” business. The remaining 15 percent identify the business as being “competitive.” None of them said the business was not competitive. Continue reading

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Succession Planning: A Bane For Family Businesses

“Often a defining characteristic of family businesses is the desire to ensure the business stays in the family across the generation. However, this – many times – is not the case often due to a lack of planning,” says Daniel Geltrude, Managing Partner of Geltrude & Company and Director of the firm’s Family Office Practice. “Even when quality succession plans are put in place, we find that it’s not usual for the family members to push them off. Basically, sometimes there’s a lack of follow through.” Continue reading

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The Four Biggest Concerns At Middle-Market Family Businesses

“Based on a study of 336 middle-market family firms, four critical, often interrelated, concerns were identified. About three quarters of family member senior executive at their family businesses said that they were very or extremely concerned about growing profitably over the next few years,” explains Daniel Geltrude, managing partner of Geltrude & Company and Director of the firm’s Family Office Practice, “Most family firms are highly motivated and determined to build their companies. At the same time, being able to continue to grow the business and add to the bottom line can go a long way to alleviating any problems that might be affecting the family or the company.”
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