The challenges of perpetuating wealth and enterprise across generations—with the breakdown of governance as a key factor—are well researched and documented.1 To better understand the true role of governance in the family system, look to the definition that originates from the Latin verb “gubernare,” which means to steer or to direct.2 Families who desire their family wealth or enterprise to endure often grapple with how best to steer the enterprise in a way that
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