Purpose before structure
Does the family need a fund — or shared rules first?
A familiefonds may be an outcome of the analysis, but it should not be its starting point.
Working principle
Define purpose, perimeter and roles first. Then compare forms, including the decision not to create a fund.
Pooled capital should solve a specific problem
Investment discipline, preservation of a family asset, education of the next generation and rules for support are different purposes. They may require different mechanisms or no pooling at all.
Before a form is selected, review the founder’s personal reserve, voluntary participation, each child’s readiness and the family’s ability to discuss conflict and exit.
Four routes instead of one answer
The family may choose direct ownership, shared rules without a pool, contractually pooled capital or a stichting/STAK/corporate route. Different assets may follow different routes.
A familiefonds is not automatically synonymous with an FGR. Its name does not determine legal title, tax treatment, bankability or regulatory obligations. Those layers are confirmed after the Family Capital Decision Canvas.
Signals
Review this if you recognise your system
- the discussion starts with a legal form rather than the family problem
- benefit, voice and access to cash are combined
- entry rules are discussed but exit, conflict and replacement are not
Next actions
Three steps before choosing a document
- 01state one purpose for pooled capital
- 02define assets inside and outside the perimeter
- 03complete the Canvas before legal and tax design
Apply
Family capital and decision canvas
A first Family Capital Decision Canvas and agenda for the first family council.
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Family fund and family governance
The Decision Canvas compares direct ownership, shared rules, a contractual familiefonds and a stichting/STAK/corporate route, including a no-fund outcome.
Open routeRelated chapter →