Facing Family Dynamics: Four Ways Families Get Into Trouble

Working with family, even on philanthropy, has its challenges. Even the most successful families experience misunderstandings, disagreements, and power struggles. Whenever a family must make decisions together about money—whether it’s making money, keeping money, or giving it away—it can get tricky. Emotions run high, and family members may react or revert back to long- established roles and patterns of behaviour.

Family dynamics are something that all families face, particular families of wealth. If not kept in check, these dynamics can, at best, hinder good decision-making, and at worst, cause rifts that leave families in a state of disrepair.

Here are four family dynamics and quick tips to mitigate them.