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