The Emotional Audit: Checking the Health of Your Legacy

We wouldn't dream of running a business without an annual financial audit, yet many families neglect the "Emotional Audit." A legacy is more than just a healthy balance sheet; it is the quality of the relationships between the people who own it. If the business is thriving but the family hasn't spoken in months, the legacy is in jeopardy.

An Emotional Audit involves a series of honest, sometimes difficult, questions:

• Do the cousins still enjoy spending time together outside of work?

• Is the rising generation excited by the opportunity, or do they feel "shackled" by the inheritance?

• Are there old resentments from previous generations that are quietly influencing current business decisions?

By addressing these "soft" issues regularly, you prevent the "hard" crashes that occur when emotional debt finally comes due.

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