The family charter defines what is important to the family at present and in the future, and specifies the rules and mechanisms through which it aspires to realize its vision. Generally, the charter addresses the structure of the family’s assets, the owner’s rights and obligations, ownership eligibility, decision-making mechanisms, mechanisms for the distribution of funds, rules for employing family membersas well as other subjects. However, each family charter is unique to its creators, and therefore must be drafted by the family itself. The process of defining the principles and points of agreement is the mortar that will firmlybind the bricks of the family charter together.
Dorot has developed a process that integrates contentual and legal accompaniment thanks to close collaboration between our team and the attorney of the family’s choosing. Our people support the family in profoundly exploring the question, “What do we want?” The dialogue and understanding generated by this process produce a paper containing principles and agreements, which is then translated into legal terminology by the attorney, who is included in the process and has a profound understanding of the family map. We also collaborate closely with tax experts and accountants, at the client’s choice. The outcome is a structured charter that all members of the family agree on, and better communication and relations between them.