How to Hold and Enjoy Family Assets, Now and for Generations?

Every family fortune begins with a single pair of hands. Sometimes those hands belong to one determined founder; sometimes to a couple who have built their life and their wealth together. At that first stage, there is no confusion about control: one vision, one will, one voice.

But with time and with children, grandchildren, nephews and nieces that clarity fades. What was once a single owner becomes a crowd of co-owners. Each has a share, each has a voice, and each can block a decision. Family houses remain empty because no one can agree on repairs. Land becomes overgrown because cousins cannot agree on the gardener’s bill. A painting that once hung proudly in the family home ends up in a warehouse not because it lost its value, but because no one knows who can lend or insure it.

That is how the decline of family assets usually begins: not with theft or loss, but with the slow paralysis of shared ownership.

The Role of a Family Entity

A well-chosen family entity, a foundation, trust, or holding company can prevent that paralysis. It separates ownership from use, management from emotion, and allows family assets to be held together without being trapped in endless negotiations between individual heirs. Yet an entity must never become a new dictator in the family. The art lies in finding a balance between the position of the entity (and its board) and that of the beneficiaries or family members. If the entity rules too strictly, it will alienate; if it is too loose, it will disintegrate.

The Importance of Defining “the Family”

From my experience, families do well to start as early as possible by defining who belongs to “the family.” This definition influences everything that follows: who may inherit, who may serve on a board, who may vote or benefit, and who must stay at a respectful distance. Should in-laws, foster children or stepchildren be included? What happens after divorce, or in the case of children from earlier marriages? If a family cannot agree on who belongs, it will never agree on how to share or how to govern.

Choosing the Right Moderator or Family Counselor

Another essential consideration is the choice of the family counselor or moderator. The more open-minded this person is, the more productive the process will be. If the counselor is too closely tied to a particular legal system, jurisdiction, or structure, the family may be pushed toward a solution that suits the advisor’s professional preferences, but not necessarily the family’s needs. True independence, combined with a broad international outlook, ensures that the structure will reflect the family’s unique character rather than a lawyer’s template.

From Ownership to Stewardship

Creating a structure for the family’s assets is not only a legal act. It is an act of stewardship of acknowledging that the first generation creates, the second protects, and the third must learn how to hold and enjoy without destroying. A family that can define itself, agree on the role of its entity, and embrace shared governance, is already preserving what truly matters.

That is the art and the privilege of holding and enjoying family assets, now and for generations.