Two branches, one holding
After the founder's death, two branches each held 50% of a property holding. Neither had a majority. An arbitration clause and an exit mechanism were introduced before the disagreement hardened.
ASTÉRALE Cassinia › Family governance
Writing the rules before the conflictA family estate rarely comes apart for tax reasons. It comes apart because nobody had written down who decides, how one leaves, and what happens when the branches stop agreeing. Governance is the one piece of work people always regret starting too late.
A text with no binding legal force that nonetheless says what matters: the purpose of the estate, what is passed on and what may be sold, the place of spouses and of the generations coming through.
Its membership, its frequency, what is decided there and what has no place in it. A forum where disagreements are voiced before they become deadlocks.
This time with binding force: approval of transfers, pre-emption, tag-along, valuation on buy-back, non-compete, deadlock resolution.
On what terms a family member may leave the capital, at what price, on what timetable, and who funds the buy-back.
After the founder's death, two branches each held 50% of a property holding. Neither had a majority. An arbitration clause and an exit mechanism were introduced before the disagreement hardened.
The question was not whether to exclude him but to state in advance what belongs to the family council and what belongs to the couple. The charter wrote it down; nobody had to say it.
The agreement provided for a buy-back « at an expert's opinion » without specifying the method. Two valuations came out 40% apart. The clause was rewritten with a formula and an expert named in advance.
No, and deliberately so. Its force is moral: it binds because it was discussed and signed, not because a court would impose it. Binding commitments belong in the shareholders' agreement.
For the charter, yes: a text written by one person does not hold. We conduct individual interviews first, the joint meeting afterwards.
As soon as there is more than one decision-maker, or a generation reaching the age to receive. Governance written in calm costs a hundred times less than arbitration in conflict.
General information: this page is neither personalised advice, nor an offer, nor an investment recommendation. Legal and tax deeds are drawn up by your notary, lawyer and accountant, whom we coordinate. All investment carries a risk of capital loss. Regulatory statuses and full legal notice on the Legal notice page (French).
If you head a family estate that nobody sees in full any more, that is what the first meeting is for: rebuilding the whole picture and telling you, plainly, whether there is a case for working together.