Publications

Why Having A Chief Of Staff For A Family Business Helps Avoid Disasters

Why Having A Chief Of Staff For A Family Business Helps Avoid Disasters

The whole blame nor the whole praise for the failure or success of family businesses lies with the leadership or the collective family business organization. Leadership must understand that there are flaws within the family business organization; and, a leader is willing to undertake the institutional risks to fix those flaws.

Many times it requires more than just an Alpha leader but also a Beta leader, or a chief of staff from outside the organization, such as lawyer , accountant or other professional who is able to execute on the changes as they are needed

Read More
Estate Planning During A Bear Market
Financial Planning, Estate Planning Matthew Erskine Financial Planning, Estate Planning Matthew Erskine

Estate Planning During A Bear Market

In April of 2022, the stock market officially entered Bear Market territory. Bear Markets occur when the market declines more than 20% below a recent market high, in this case the 52-week market high. Why the market has declined has been attributed to many different factors, such as inflation, the energy shortages, the War in Ukraine, and so on – each contributing to investor’s fears and a desire by investors to cut their losses. In the short term, the volatility of the markets will remain. Estate planning is a long-term strategy, so what about the long term?

Read More
Tactics To Reduce Your Capital Gains Tax And Your Estate Tax

Tactics To Reduce Your Capital Gains Tax And Your Estate Tax

To those who have highly appreciated assets and expect their estates to exceed $3.5 million, is to be better educated about these tactics and their advantages and disadvantages especially with the turbulent environment for tax laws in the coming years.

Read More
The Tragedy Of The Commons: How A Life Crisis Effects Family Wealth

The Tragedy Of The Commons: How A Life Crisis Effects Family Wealth

“Strategic planning, governance, and business processes take a back seat to the immediacy of the leader’s life crisis and how the crisis will be managed, ignored, or denied by the leader and the stakeholders in the organization. Response to the crisis largely determines the future and well-being of the business and the family.” -Steven S. Rolfe, MD

In most cases, a family leader plays the role of the governor of the engine that is the family wealth. The leader has the personal authority to set agendas and make decisions between competing demands on the common resources of the family. So long as they are able to act in such a way, disputes do not rise to the level of threatening the viability of the family enterprise. In Systems Dynamics there is a name for this situation, The Tragedy of the Commons.

Read More