Family firms gather for seminars and forums created specifically to meet the member families’ needs. Some of the topics to be covered in the programs include:
- Succession planning
- Estate and tax planning
- Family wealth management
- Communication and conflict resolution
- Compensation strategies
- Valuation issues—up-to-date IRS rulings
- Intergenerational relations
- Training the next generation
- Sibling and cousin rivalry
- Husband and wives working together
- Unexpected transitions
- Handling illiquid real estate positions
- Insurance planning
- Hiring outside managers/directors
- Managing non-family managers and employees
- Establishing requirements and monitoring for succession
- Choosing professional services
- Handling low basis assets
- Using outside boards and advisors
- The role of trusts and partnerships in family business
The mission of the Family Business Center of Hawai‘i is “equipping, educating, and celebrating families in business.” The Center provides opportunities for families to address many of the challenges they face today so that they can survive and thrive through future generations. This mission is achieved by providing:
- An opportunity for owners and managers of family businesses to interact directly with the country’s leading experts, researchers, consultants, and professional advisors who know and work with family businesses.
- A forum for Hawai‘i’s leading family business owners to exchange information, ideas, and experiences between families.
- A national and international network of family business owners where ideas and experiences can be shared and opportunities presented for mentoring and internships for future leaders.
- Access to the growing body of knowledge and research that enhances the understanding of the special issues and circumstances relating to family business in general and Hawai‘i in particular.
- Programs with experienced family business professionals that will strengthen the many relationships unique to family business.
- Information and programs to increase awareness in Hawai‘i about the unique value of family businesses.