The book covers phases in the business and family lifecycles, explaining the task of managing, building and transmitting a business across multiple generations. It guides founders, their families, non-family executives and professional advisors.

Financial advisors seeking a clearer idea of what family business owners want in order to serve them better now have a new guide: Life Cycle of a Family Business.

The study, edited by Barbara R Hauser and Alon Kaplan, has chapters on phases in the business and family lifecycles, explaining the task of managing, building and transmitting a business across multiple generations.  It guides founders, their families, non-family executives and professional advisors. A total of nine contributors examine businesses from different angles and stages.

Dr Kaplan is managing partner of his eponymous business, Alon Kaplan Law Firm, and founder of STEP Israel. He is a notable expert on Israeli trusts and legal structures, as well as those in other parts of the world. (Dr Kaplan has also written guest commentaries for this news service.) Barbara R Hauser is a family office advisor, running her own business, Barbara R Hauser LLC, which is based in the US.

With family-run businesses often intertwined with family offices – which are set up to manage the affairs of a governing dynasty – this book is very timely. 

The book, published today by Globe Law and Business, sets out a framework and best practices for identifying, separating, harmonizing and optimizing the potentially conflicting roles of the business operator, business owner and family members across predictable scenarios.  It is a one-stop collection bringing together international contributors.