Forward Planning for
Sustainable Governance

The Need for and Role of a Family Council

A Family Council is needed as a forum for discussion and agreement of family matters. These matters can encompass business matters, matters concerning family values and matters concerning the family generally.

Family Council’s scope of involvement may be as follows:

  • longer term succession to the family business;
  • longer term succession to other wealth of the family;
  • short term succession to the Family Council, of any member of the Family Council becomes incapacitated;
  • whether Trusts or Foundations established, or to be established for the family are operating or will operate for the benefit of the Beneficiaries;
  • discussion of issues affecting the family generally;
  • discussion of any specific issue raised by any member of the family;
  • discussion of the situation and progress of the family businesses and all matters relating to them;
  • discussion of other family investments;
  • process and opportunity of training and educating younger members of the family in all such matters;
  • consultation of shareholders by the Boards of Directors of family companies; and
  • discussion of any other matters relating to family values.

Lea & White and/or its collaborators can provide valuable assistance in achieving these objectives by being involved in attendance at meetings of the Family Council and helping to follow up to ensure its decisions are achieved for the good of the family as a whole.

Lea & White can draft the rules for the operation of the Family Council, which will include selection of members, voting rights, selection of the chairperson, notice of meetings, quorum for meetings, methods/requirements of attendance at meetings, frequency of meetings, the preparation and circulation of agendas and minutes and the maintenance of records. Lea & White can also assist in achieving some of these matters if so required.

 

Share
We are using cookies to give you the best experience. You can find out more about which cookies we are using or switch them off in privacy settings.
AcceptPrivacy Settings

GDPR

Lea & White International Advisers Pte Limited is committed to protecting the privacy and security of your personal data. This privacy notice explains how we collect, use, and disclose personal data when you use our services or interact with us, in accordance with the General Data Protection Regulation (GDPR) and the Personal Data Protection Act (PDPA) of Singapore.

What Personal Data We Collect:
We may collect various types of personal data, including but not limited to:

Contact information (such as name, email address, phone number)
Identification information (such as NRIC or passport number)
Demographic information (such as age, gender, nationality)
Financial information (such as bank account or credit card details)
Transactional data (such as purchase history, payment details)
Technical data (such as IP address, device information, cookies)

How We Use Your Personal Data:
We may use your personal data for the following purposes:

To provide and maintain our services to you
To process transactions and fulfill orders
To communicate with you about your account or our services
To personalize your experience and tailor content and offers
To comply with legal obligations and regulatory requirements

Data Sharing and Disclosure:
We may share your personal data with third parties in the following circumstances:

With service providers and partners who assist us in delivering our services
With regulatory authorities or law enforcement agencies as required by law
With third parties in connection with a merger, acquisition, or sale of assets

Data Security:
We implement appropriate technical and organizational measures to protect your personal data against unauthorized access, disclosure, alteration, or destruction.

Your Rights:
Under the GDPR and PDPA, you have the following rights regarding your personal data:

Right to access: You can request access to your personal data and information about how we process it.
Right to rectification: You can request corrections to inaccurate or incomplete personal data.
Right to erasure: You can request deletion of your personal data under certain circumstances.
Right to restrict processing: You can request restrictions on the processing of your personal data in certain situations.
Right to data portability: You can request to receive your personal data in a structured, commonly used format.

Contact Us:
If you have any questions or concerns about our privacy practices or your personal data, please contact us at info@lea-white.com.

Changes to this Privacy Notice:
We may update this privacy notice from time to time to reflect changes in our practices or legal requirements. We encourage you to review this notice periodically for any updates.