Trigger events in business families
Family Subsystem Trigger |
Operating Business Subsystem Trigger |
Investment/Family Office Subsystem Trigger |
Philanthropic Subsystem Trigger |
- Birth
- Adoption
- Death
- Serious illness
- Marriage
- Divorce
- Commencement (graduation)
- Empty nest
- Revelation of a secret
- Midlife crisis
- Change in career
- Retirement
|
- Formation
- Significant change in business operations
- Sale
- Reorganization
- Admission of new owners
- Change in key employees
- Liquidation
- Transfer to family members
- Change in external environment, e.g., tax laws
- Lawsuits
|
- Liquidity event
- Need for funds, e.g., extended illness
- Sale of assets
- Change in type of assets
- Change in investment advisors
- Need for new services
- Change in external environment, e.g., tax laws
- Lawsuits
|
- Change of family members’ interest in charity
- Change in charitable needs
- Tax law changes
- Regulatory inquiries and penalties
|
Bloomberg Press Copyright 2009 Cultivating Change LLC and Gwen Griffith. Adapted and used with permission.