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#292 - Ryan Heath - Founding Attorney @ Baker Heath, PLLC - Estate Planning 101

The Fort

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The Role of Family Governance in Family Business

I was on a guy, wonderful guy, Mike Boyd, that's got a podcast called the business of family and he interviews families that have had like dynasty businesses transferred to fourth, fifth, sixth generations. And basically they've made their family a business, the hierarchy and how it works. I mean, really detailed family governance structures. If you know that Susie and John have split up, there's like a mechanism in place and they are like put in the penalty box until further notice. It's real strict about the pre- and up requirements. But if one of this one, either the husband or the wife, doesn't matter if it's your kid or not, moves out of

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