Tyra Family Office

Family Governance


What is Family Governance?


In essence, Family Governance involves the responsibility of a family to establish a shared agreement on how to manage their valuable assets while defining their significance and purpose. This is achieved by identifying common values that can guide the management of the family assets, resolving any potential conflicts among its members, and defining roles and responsibilities for each individual involved.
Essentially, Family Governance is centered around the family and its integral members, each with their unique contributions and characteristics. As the family is composed of diverse individuals, striking a balance between recognizing and respecting each member’s individuality while fostering cohesiveness, well-being, and shared values can prove demanding but is vital.

Six Steps


To navigate the Family Governance process, it is important to recognize that each family possesses unique qualities that should not be forced into a preset structure. Therefore, we have devised the following six steps as a guide towards success. However, families are free to customize these steps as they see fit. As a communication platform and an impartial mediator, Tyra Family Office will assist the family throughout the entire process.


• The family’s understanding of the process,
• Selecting an appropriate specialist team (an external organization),
• A willingness to cooperate,
• Acknowledging rights and obligations, and
• A strong familial commitment.

Values, aims, interests

• Who is part of the family?
• Supporting the family in comprehending the topic
• Recognizing, appreciating and retaining the individual values and goals of the family members
• Fostering individuality
• Preparing ground for commonalities

Starting point / common denominators

• What is the current situation of the family?
• What the family is aiming for?
• Which responsibilities can/should be delegated?
• What the asset values will be attributed towards?
• 12 questions for the family

Family model

• Introduce family committees and structures
• Lay down the roles, responsibilities and functions of the family members
• Establishing the infomation flow and communication channels
• Conflict management and crisis prevention

Measures and implementation

• Determining the support level: family/individual
• Passing on generational wealth from a legal perspective
• Business, legal and corporate governance
• Asset planning and management strategy
• Philanthropic projects
• Working on and stregthening competence

Living Family Governance

• Respecting and abiding by the values and family model
• Maintaining transparency and articulating about important events and changes
• Timely gatherings
• Continually improving the model (if necessary)

In a quest to help our clients with the Family Governance, here we have 12 questions for them: