Updated guide to advising families involved in business out now

27/06/2018 News Team

The updated edition of a key guide for providers of legal and financial advice to families involved in business goes on sale from Wednesday 20 June 2018.

The second edition of Business Families and Family Businesses: The STEP Handbook for Advisers is published by Globe Law and Business, together with the Society of Trust and Estate Practitioners (STEP), in June.

This new edition, which is also edited by STEP, features chapters by practitioners in the field, including the Family Firm Institute, Schroders, Boodle Hatfield and SandAire, Kleinwort Hambros, Dixon Wilson and Rathbones.

The book considers what makes business families and family businesses unique, and examines the issues that advisers are often called upon to consider and address when assisting them.

It helps practitioners to deepen their understanding of how families operate, and to develop the skills and knowledge necessary to advise on such complex areas as conflicts between working and non-working family members, ownership structure, succession, wealth management, governance and meeting a family’s philanthropic objectives.

Business Families and Family Businesses: The STEP Handbook for Advisers is a comprehensive guide for all practitioners who advise business families, including lawyers, accountants, financial advisers and wider family business advisers.

The book’s consulting editor is Simon Rylatt, partner and head of private client and tax at the law firm Boodle Hatfield, and he commented: “Family owned and run businesses represent a huge proportion of private sector enterprises in the UK and indeed globally.

"This new edition of the handbook seeks to provide those interested in the quirks, quandaries, intricacies and challenges of advising such businesses and their owning families with an updated and accessible guide to the associated issues. The contributors are both expert and varied and bring a broad range of perspectives for advisers to think about.”

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