The Mack Podcast Family Constitutions and Governance: Building Alignment Across Generations
17 snips
Feb 12, 2026 Richard Wolkowitz, founder advising families on generational continuity; Susan Schoenfeld, former trust lawyer and CPA focused on legacy and stewardship; Bill McLean, adviser on ownership transitions; Jennifer Strom, consultant on family dynamics and decision-making; Mark Tepsich, UBS advisor on building family offices. They discuss why governance matters, how the process beats the paper, engaging multiple generations, handling hard conversations, and keeping governance practical and reviewable.
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Constitution Driven By Liquidity Demand
- A family wanted a constitution driven by liquidity demands but missed the real motives.
- Mark Tepsich illustrates that misunderstanding purpose blocks productive governance work.
Unpack Family Dynamics First
- Surface family dynamics and psychology of wealth before drafting policies like employment or distributions.
- Jennifer Strom urges hard conversations about roles, expectations, and differing priorities.
Founder Resistance Needed A Deep Dive
- A resistant founder feared losing control and family harmony, blocking governance until fears were aired.
- Bill McLean describes investing a year to surface sibling power dynamics before progress occurred.