The Wealth Strategies Journal has posted a new article entitled. "New Risks for the New Generation: Encouraging Families and Family Owned Businesses to Implement a Family Risk Management Policy," by Patricia M. Annino.
From the article: "Families and family owned businesses have faced risks since this country began. Traditional risks have included the unexpected death or disability of key stakeholders; incomplete or out of date estate planning documents; incomplete or out of date corporate documents; the lack of liquidity; the lack of a disaster plan; the lack of effective communication among key stakeholders; major changes in the competitive environment; the divorce or remarriage of a key stakeholder; out of date business valuations; the absence of an effective family governance policy; and the lack of an awareness of the boundaries between family and business."
Find the rest of the article here.
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