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Starting Family Governance Conversations With Your ClientsStarting Family Governance Conversations With Your Clients

Reduce risk of future resentment and dissension

18 Min Read
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Family governance is about family communication and family-focused decision making. Many estate planners shy away from anything that’s overtly family-focused. There are no Tax Code sections or court rulings to frame the discussion, and the topic is often considered too touchy-feely, something we weren’t taught about in law or business school. As a result, many clients end up with tax-efficient plans that become counterproductive—if not outright destructive—to the settlors and their future generations because the plans are either too restrictive or too generic. 

Let’s discuss why we think estate planners should add a few new tools to their tool belt. We’ll also review the fundamental objectives of family governance work. Finally, we’ll des...

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About the Authors

Mark Powell

Partner, Private Wealth Services practice group, Holland & Knight

Mark Powell is a Partner in Holland & Knight's Private Wealth Services practice group. He is based in the Los Angeles office and works with clients across the country to create meaningful estate plans meant to be flexible and remain relevant to beneficiaries over several generations. His work is focused on charitable planning, family philanthropy, and matters related to family governance and succession planning. Before joining Holland & Knight, Mark was a partner in the Tax, Trusts & Estates practice group at Dorsey & Whitney and a partner in the Private Clients Services practice group at Snell & Wilmer. He received his undergraduate degree from the University of Georgia and his law degree from Mercer University's School of Law. He has been a member of the State Bar of California since 1996, which has certified him as a specialist in Estate Planning, Trust and Probate law. Mark has written for a wide variety of estate planning journals, and his contributions to the advancement of the estate planning field were recognized when he was appointed by his peers as a Fellow of the American College of Trust and Estate Counsel. In addition to his practice at Holland & Knight, Mark serves as an adjunct professor of law at Chapman University's School of Law.

Andrea L. Kushner

Director, Wealth Strategies Group, AllianceBernstein

 Andrea is a Senior Vice President and Director in Bernstein’s Wealth Strategies Group and is located in the firm’s Los Angeles office.