Dear UHNW Institute Members,

As Summer comes to end and kids head off to school, the Institute is hard at work this month on its exciting fall line-up of events including our in-person Collegium in Chicago this October, the annual Symposium in New York City in November and a UHNW Institute Lunch & Learn in NYC this month entitled: Protecting the Legacy of Family Offices and Family Businesses in Today’s Legislative Environment.

All month long, we’ll be focused on the theme of Family Enterprise and the issues relevant to families we serve, with topics and resources to support the family-owned operating company, a family office with family members working together, or generational transitions that affect company ownership, succession and family dynamics.

 

Lunch and Learn in NYC – September 19
The UHNW Institute invites NYC and regional members to an in-person luncheon on Friday, September 19, 2025, focusing on current and proposed legislation affecting private business owners. In partnership with Family Enterprise USA, the session will offer a timely perspective on how federal tax policy, including how the recently passed One Big Beautiful Bill (OBBB), may shape the future of multigenerational enterprises.

Panelists:

• Pat Soldano, President, Family Enterprise USA and Policy and Taxation Group
• John Gugliada, Director of Family Engagement, Family Enterprise USA
• Michael Hawthorne, Associate, Squire Patton Boggs Public Policy Practice
• Russ Sullivan, Chair, National Tax Policy Group

Issues Affecting Family Enterprises

What are some of the pressure points affecting family businesses?

• Trade, tariffs & supply-chain issues under the current administration,
• 2025 tax policy changes, One Big Beautiful Bill Act makes permanent the higher transfer-tax regime and raises the estate/gift/GST exemption to $15M per person ($30M married) starting in 2026,
• Generational transitions and ownership issues remain critical, including succession readiness and alignment gaps between current and next generations. Many families face gaps in governance, including informal charters, shareholder agreements, and board practices—as well as challenges in leadership planning, talent pipelines, and succession planning, including role clarity, development paths, and performance criteria.

 

Have insights on other issues you’re seeing with the families you serve? We invite you to share your experiences and tag your colleagues on the UHNW Institute Linked In here.

 

And finally, be sure to explore the following UHNW Institute Resource Library resources that support this month’s Family Enterprise theme.

Book | Fundamental

Link: Borrowed From Your Grandchildren: The Evolution of 100-Year Family Enterprises

Borrowed from Your Grandchildren presents findings from the Hundred Year Families research project, offering a global view of how successful multigenerational families sustain both family and enterprise. It also serves as a modern reference on key concepts in family enterprise governance.

White Paper | Advanced     

Link: Family Enterprise Risk Index

This white paper surveyed 145 family enterprises, comparing perspectives of family and nonfamily participants across both enterprises and family offices. The findings highlight key differences in risk management priorities and provide insights into critical areas such as talent, succession, family conflict, cybersecurity, and investment performance.

 

Article | Fundamental

Link: People, Policy and Participation: Elements Relevant to Family Enterprise Decision-Making

This article guides families transitioning from person-based to policy-based governance, emphasizing the importance of broad family input. By framing involvement as a spectrum of engagement, it helps ease the shift and includes sample questions to assess governance readiness.

 

Article | Fundamental

Link: Seven Essential Documents for Family Enterprises

This article outlines key documents that support effective family enterprise governance: constitutions, trusts, ownership agreements, employment policies, succession plans, and codes of conduct. It is a practical resource for advisors and a clear introduction for clients beginning to implement governance structures.

Podcast | Fundamental- International

Link: Family Enterprise Consulting in Saudi Arabia: An Interview with Basma Al Zamil and Bob Kohli

This Family Firm Institute podcast examines the evolution of family enterprises in Saudi Arabia and the Gulf region, where businesses are moving from second- to third-generation leadership. The discussion highlights cultural trends, the rising role of Saudi women, and the importance of clear communication in building governance that balances modern practices with tradition.

 

Video | Advanced

Link: Understanding Family Enterprise Risk- Roundtable

This roundtable explored the Family Enterprise Risk Index, highlighting how risk concerns differ between family members and executives. Topics included talent, succession, family conflict, cybersecurity, and investment performance, along with strategies for engaging clients in risk discussions. A real-life case study illustrated how one family successfully prepared for a “fire drill.”

 

Video | Fundamental

Link: The Evolving Family Enterprise

This roundtable explored the complexities of advising family enterprises, from managing operating companies to stewarding shared assets and philanthropy. Experts shared best practices for guiding generational transitions, defining roles and responsibilities, and aligning family offices, investments, and philanthropy to support long-term growth and sustainability.