“If you feel that Your Aspirations, Your Concerns, Your Fears don’t seem to have a sympathetic ear... then You’re in for a Marvelous Surprise…”
Most families try, and I mean try very hard to be together, to succeed, to make happiness last, to make family unity last – but those who succeed feel that they are having it out of luck, out of God’s grace…very few can say they did it together.
Others sadly don’t have them at all.
Dear Family Stakeholder,
If you’re like most families, then you’re probably feeling that what you want for your family might be achievable to a certain degree, but in most cases you wish you could do more.
That’s definitely more or less the more realistic place to be.
It is for most families.
You’re not alone in this!
But there’s one huge, looming problem…always.
Out of pure love, out of fear, out of necessity and urgency, and for some out of pride, you move heaven and earth to do this alone. You feel alone.
You are alone!
You know what I’m talking about, right?
You know why you feel alone, because you worry about the future, and at the same time you worry about what your job is for the family right now.
How will the future look for the family? How will it be for your family?
How will it look for YOU most especially?
The future is always something to look forward to but I know you have a job to do right now.
A job to take care of your family, to take care of each other.
And you have a whole chunk of things to do for the family your whole life, not just today...but practically every day.
I bet you are wishing you can do all of these jobs right the first time...
- Pass on family traditions, beliefs, and values in a more structured way
- Understand each other's needs, aspirations, dreams, and have the ability to articulate, and share them
- Articulate the vision for the family and the business and share the burden of the journey to success
- Know the true value of the family wealth individually and collectively
- Acquire and transfer assets to family members at the least cost
- Distribute properties among siblings
- Protect family assets against debt or legal claims
- Mediate in ownership issues among family members
- Make decision about succession
- Seek investment opportunities
- Assign businesses to siblings
- Constantly making decisions for family
- Act as referee between rival siblings
- Mentor siblings about the business
- Deal with spouses of siblings
- Pass on family and business responsibilities to the next generation
- Save up for education of children and grandchildren
- Take care of aging family members
- Plan retirement
- Pay for medical or emergency expenses
- Pay for lifestyle of family members
- Take care of drug dependent family members (heaven forbid)
- Pay estate taxes
- Pay for real property & other income taxes
I'm just saying that we know where you’re coming from.
While you’re trying to do and to achieve all of the above with two hands, a single brain, a single heart, and a fat check book, you will be facing challenges.
When you read the word “challenges” you’re probably thinking about the word “PAIN”.
Yes because loving and raising a family comes with a lot of pain (and hopefully with lots of happiness too).
I hate to bring it up, but here are most of them...
The younger generation is no longer keeping family traditions, beliefs, and values. They are more influenced by education, peers, and outsiders.
Younger generation is not taking on responsibility.
Family members don't seem to understand each other, have problems communicating their dreams, aspirations, fears, and their personal needs.
Family members don't understand where they are going in terms of their relationships and in terms of their roles in the business.
Families may not have complete or accurate information about their true worth and the risks that go with owning assets.
Assets are incurring many forms of tax expenses either in their ownership and their transfer including taxes on income from assets and business.
No plan to monetize assets and pay off existing debts.
No clear policy as to how to deal with spouses concerned with separation of personal properties.
No clear policy as to how to deal with spouses in terms of career, employment, and personal investments.
No clear policy as to where future funds will be sourced for estate tax purposes.
No clear policy on governance. No clear decision as to how to finance payment of estate taxes.
Elders are avoiding making decisions about wealth distribution, succession, and resolving conflicts.
Some family members are getting a better deal than others.
Rising cost of education in prime universities.
Older generation is not adapting.
Elders are not clear as to sourcing their retirement fund.
High cost of medical and terminal care for aging members or vulnerable members of the family.
Investment is in a single basket. Equal distribution of assets is not perceived as equitable.
The list above is enough to make you want to reconsider having a family altogether.
We know these pains are not easy. You can actually talk to someone at no cost to you.
You can get in touch with someone from our team now if you want.
I feel for you.
But hold up – it doesn’t have to be that way…
Instead of doing this alone, imagine if you have someone to help you do it right the first time. Would that interest you?
Here’s your answer:
You would probably want someone to help you do the following things right the first time…
- Younger family members are reminded of their family history, the factors making them successful and keeping them together.
- Facilitate a process that allows families to find common values, reasons for unity.
- Family members are able to articulate their problems, dreams, aspirations, fears, and their personal needs without being judged.
- Family members share the same vision, understand where each of them are coming from, and have shared goals in terms of where to take their business.
- A guide to help families make decisions on matters and issues before they happen or for existing issues to get worse.
- Facilitate a process where the family organizes a governance structure like their own family council.
- Coach or educate family members how to communicate and deal with conflicts among them.
- Family has an inventory of assets and debts or obligations.
- Families can rationalize the payment of taxes related to ownership of assets and income.
- Family sets up funds for future use.
- Facilitate a process where the family organizes their funds for emergencies and other unforeseen financial obligations.
- Coach or educate family members about finance & cash management.
- Family sets up funds for future estate taxes.
- Coach or educate the family about structures or models for ownership.
- Facilitate a planning process for family members to provide better understanding of and minimize common risks affecting assets and wealth.
Does it make sense?
You can actually set an appointment with one of our consultants for free advisory
on how to achieve the above.
I’ll give you eighteen (18) good reasons why you should seek out help NOW!
With professional and more structured help, you can achieve the following:
With professional and more structured help, you can achieve the following:
- Your younger generation can carry on traditions, appreciate shared values, and recall their history.
- Family members can openly express their concerns and plans between generations and within their own generation.
- Family members will have a shared vision about who they are as a family and the direction they are going in business.
- You can minimize if not eliminate family conflicts.
- The next generation is prepared to assume responsibilities for the family and the business.
- You can create better relationships between siblings, between in-laws, and between generations.
- You can pave the way for the next generation to embrace and accept stewardship of family wealth and business.
- You will help families make better collective decisions and better decisions based on pre-agreed policies.
- The first generation can assure the next generation of a higher quality of life.
- The first generation will be assured of a good quality of life all through retirement.
- The family will have a systematic inventory of all their assets, liabilities, and investments in a form usable for decision-making and financial planning.
- You will manage assets and wealth better.
- You can equitably distribute properties among family members.
- Better management of family healthcare.
- A guaranteed education for children and grandchildren.
- Lessen the impact of future taxes on assets and future income.
- Lessen the impact of debt through sound financial policies and payment schemes.
- Rationalize the payment of taxes imposed on assets and wealth.
A lot of families we have help can attest to what we can do.
Here’s a client we helped…
You can see there are a whole lot of benefits to asking help and doing this professionally. And that’s why you’re going to want to know about our ...
Family Enterprise Planning or FEP
.
The Family Enterprise Planning or FEP is a way to deal with your CHALLENGES (or PAINS) without the trial-and-error or experimental approach!
This is your family we’re talking about here.
You can’t be experimenting or playing around with their feelings, their aspirations, and their fears. Your mistakes can hurt or scar them for life.
Believe me you don’t want the “silent treatment” for life. It’s unbearable!
The Family Enterprise Planning or FEP shows you how to stop the guesswork of what will work for your family, and start doing it based on science and 80 years worth of knowledge from an already organized practice!
We have worked with 80 families for a decade now. And we have put together a comprehensive suite of solutions for the pain you are experiencing now.
Here’s what you can expect from the
Family Enterprise Planning or FEP when you engage with us:
Facilitate a process that allows family members to revisit their founders' history, their challenges, their successes, the values that kept them strong and successful, what traditions kept them together, and what made their business successful.
Facilitate a process that educates and coaches family members how to communicate or to resolve conflicts.
Facilitate a process that allows family members to articulate a vision of themselves as a family and as stewards of the business.
Facilitate and coach the family how to organize assets and finances with the view of creating a plan to address distribution of estate and payment of estate taxes.
Prepare a plan and legal mechanisms to structure and to protect ownership of assets and future revenue streams.
Create a plan that allows different structures and models of ownership through legal instruments.
Create a financial plan to mitigate against the peso value of future education of the next generation, investment, retirement, and anticipated risks.
Create a financial & personal cash management plan.
Provide guidelines about investment and collective business decisions of the family.
Provide mechanisms and policy for resolving common and anticipated conflicts among family members.
Establish a succession plan for the family.
Provide mechanisms and legal instruments to manage conjugal and personal properties in the context of marriage.
Establish a succession plan for the family.
Assist the family in establishing an Education Plan.
Assist the family prepare a Cash Flow Management plan.
Assist the family in preparing a Retirement Plan.
Assist the family in mitigating and paying for estate taxes.
So, you’re liking what you see so far.
How much are you willing to pay for the happiness of your children every Christmas?
Were you thinking of a toy, a trip, another house, another Mercedes?
How much are you willing to pay for the single vision of a better future for your family?
Of course you can probably buy another house, another Mercedes or even a BMW, but would you trade off all of that with that one single vision of your family’s future?
Would you?
We are just an email or chat away!
We are ready to listen to you.
Connect now!
JONATHAN “Jon” RAMOS,
Chief Executive Officer
Premier Family Business Consulting
