HOW TO RESOLVE A FAMILY CONFLICT PEACEFULLY
A difference of opinion, words spoken without thought, complicated projects… the sources of discord are as varied as the people who make up a family. When misunderstandings escalate into conflict between family members causing a rift in your family, it can be difficult to know where to begin. Both family members want the issue to be resolved but cannot seem to communicate. What’s the best way to reach an agreement and to resolve this family conflict peacefully?
“Oftentimes the best place to start when in a family conflict is finding alignment in a common goal – focusing less on where you are at odds but rather on where you see eye-to-eye. A positive point of departure can be a springboard to building trust and allowing for a more successful outcome” explains Danny Ritter, Partner, Richter Family Office.
Put quite simply: it’s a matter of trust.
As business owners, entrepreneurs, or philanthropists, you have faced countless challenges in a professional setting. But when it comes to family, rationale can easily fly out the window.
Differences of opinion can widen in scope when emotions are involved. Add on poor communication, inadequate information or inconsistent approaches to problem solving, and tensions can easily escalate further.Whether regarding a family business or just issues amongst family members, the difference between a peaceful resolution and a more permanent rift among family members is a matter of trust. Trust which takes time to build.
Working with an independent and objective third party – ideally well before the issue arises – means you have a professional to turn to when needed most. Someone who knows your family and your situation.
We understand that every family is unique, so too are your challenges. Our professionals help families through a host of situations where the financial and the emotional intertwine. We have assisted thousands of family members in navigating delicate matters with respect to family governance, philanthropy, and estate planning. Beyond the years of expertise and objective perspective, we listen.
“This is what sets Richter Family Office apart from other traditional financial advisors. We take the time to get to know the families with whom we work. We build relationships so we can assist families beyond portfolio construction and asset management. We dedicate time to helping you build a legacy beyond the books – and sometimes that means providing a listening ear when its needed,” says Ritter.
It’s in these instances – and many others – that having a trusted advisor can make all the difference.
It’s your family, it’s your story, and we are here to help you. Whether recommending an external mediator, or simply acting as a bridge builder to find common ground, our professionals care for the clients with whom they work and seek to resolve any differences peacefully and discreetly.
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With great wealth comes great responsibilities towards the community, family members and generations to follow. Developing clear governance systems ensures family harmony and, ultimately, intergenerational success.
Estate and Tax Planning to Protect your Legacy
Integrating your tax structuring is crucial for all ultra-high-net-worth families. This includes will planning, the use of trust, estate planning, and investment structure optimization — all of which maximizes tax efficiencies and minimizes the burden on you and the next generations.