What is family legacy planning and governance?

The challenges the next generation faces

Generational differences

Family office struggles with generations

Realising when you're inheriting the business

Will Kendrick pass his business to his kids?

Going from national athlete to family office

Gaining exposure, cultural conflictions and intergenerational discussions are all part of the road to inheriting a family business.

Synopsis: Every first and third Monday of the month, get a headstart in your personal finance and career with The Straits Times.

Family businesses have been in the spotlight, after the CDL saga that saw father and son in a tussle for control over one of Singapore’s largest companies. 

But whether it is about inheriting family businesses or family wealth, the process is not a straightforward one. 

Banks and financial organisations prepare young people to take over family wealth, through programmes and even boot camps. 

So how does wealth planning work, and how do youths take over their family businesses? 

In this episode, ST business correspondent Sue-Ann Tan looks at what wealthy kids do to prepare to inherit wealth and companies. 

Her guests are Darren Hui, who will one day lead his family’s property management business, and former national athlete Kendrick Lee who co-founded Raffles Family Office.  

Highlights (click/tap above): 

5:35 What is family legacy planning and governance?

7:30 The challenges the next generation faces

9:00 Generational differences between father and son

10:49 What difficulties has the family office seen in dealing with multiple generations?

18:02 When did you first realise you were going to inherit the business?

21:00 Will Kendrick let his children take over the business? 

22:36 Going from national athlete to family office 

Read Sue-Ann Tan's articles: https://str.sg/mvSa

Follow Sue-Ann Tan on LinkedIn: https://str.sg/A86X

Host: Sue-Ann Tan (suetan@sph.com.sg)

Produced & edited by: Amirul Karim

Executive producers: Ernest Luis, Lynda Hong & Joanna Seow

Follow Headstart On Record Podcast channel here:

Channel: https://str.sg/wB2m

Apple Podcasts: https://str.sg/wuN3

Spotify: https://str.sg/wBr9

Feedback to: podcast@sph.com.sg

Get business/career tips in ST's Headstart newsletter: https://str.sg/headstart-nl

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Follow more podcast channels:

All-in-one ST Podcasts channel: https://str.sg/wvz7

ST Podcast website: http://str.sg/stpodcasts

ST Podcasts YouTube: https://str.sg/4Vwsa

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Get The Straits Times' app, which has a dedicated podcast player section:

The App Store: https://str.sg/icyB

Google Play: https://str.sg/icyX

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#headstart

Gaining exposure, cultural conflictions and intergenerational discussions are all part of the road to inheriting a family business.
Synopsis: Every first and third Monday of the month, get a headstart in your personal finance and career with The Straits Times.
Family businesses have been in the spotlight, after the CDL saga that saw father and son in a tussle for control over one of Singapore&rsquo;s largest companies.&nbsp;
But whether it is about inheriting family businesses or family wealth, the process is not a straightforward one.&nbsp;
Banks and financial organisations prepare young people to take over family wealth, through programmes and even boot camps.&nbsp;
So how does wealth planning work, and how do youths take over their family businesses?&nbsp;
In this episode, ST business correspondent Sue-Ann Tan looks at what wealthy kids do to prepare to inherit wealth and companies.&nbsp;
Her guests are Darren Hui, who will one day lead his family&rsquo;s property management business, and former national athlete Kendrick Lee who co-founded Raffles Family Office.&nbsp;&nbsp;
Highlights (click/tap above):&nbsp;
5:35 What is family legacy planning and governance?
7:30 The challenges the next generation faces
9:00 Generational differences between father and son
10:49 What difficulties has the family office seen in dealing with multiple generations?
18:02 When did you first realise you were going to inherit the business?
21:00 Will Kendrick let his children take over the business?&nbsp;
22:36 Going from national athlete to family office&nbsp;
Read Sue-Ann Tan's articles:<a href="https://str.sg/mvSa"> https://str.sg/mvSa</a>
Follow Sue-Ann Tan on LinkedIn:<a href="https://str.sg/A86X"> https://str.sg/A86X</a>
Host: Sue-Ann Tan (<a href="mailto:suetan@sph.com.sg">suetan@sph.com.sg</a>)
Produced &amp; edited by: Amirul Karim
Executive producers: Ernest Luis, Lynda Hong &amp; Joanna Seow
Follow Headstart On Record Podcast channel here:
Channel:<a href="https://str.sg/wB2m"> https://str.sg/wB2m</a>
Apple Podcasts:<a href="https://str.sg/wuN3"> https://str.sg/wuN3</a>
Spotify:<a href="https://str.sg/wBr9"> https://str.sg/wBr9</a>
Feedback to: <a href="mailto:podcast@sph.com.sg">podcast@sph.com.sg</a>
Get business/career tips in ST's Headstart newsletter:<a href="http://str.sg/headstart-nl"> https://str.sg/headstart-nl</a>
---
Follow more podcast channels:
All-in-one ST Podcasts channel:<a href="https://str.sg/wvz7"> https://str.sg/wvz7</a>
ST Podcast website:<a href="http://str.sg/stpodcasts"> http://str.sg/stpodcasts</a>
ST Podcasts YouTube:<a href="https://str.sg/4Vwsa"> https://str.sg/4Vwsa</a>
---
Get The Straits Times' app, which has a dedicated podcast player section:
The App Store:<a href="https://str.sg/icyB"> https://str.sg/icyB</a>
Google Play:<a href="https://str.sg/icyX"> https://str.sg/icyX</a>
---
#headstart

Get a headstart in your personal finance and career with The Straits Times.

Synopsis: Every first and third Monday of the month, get a headstart in your personal finance and career with The Straits Times.

Podcasters: Sue-Ann Tan & Tay Hong Yi

Produced & edited by: Amirul Karim

Executive producers: Ernest Luis & Lynda Hong

A podcast by The Straits Times, SPH Media.

Synopsis: Every first and third Monday of the month, get a headstart in your personal finance and career with The Straits Times.
Podcasters: Sue-Ann Tan &amp; Tay Hong Yi
Produced &amp; edited by: Amirul Karim
Executive producers: Ernest Luis &amp; Lynda Hong
A podcast by The Straits Times, SPH Media.

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