Legal Definitions - family council

A family council, often synonymous with a family meeting, refers to a gathering of family members convened to discuss and make decisions about significant matters affecting the family as a whole. These matters can include shared assets, a family business, the care of an elderly or incapacitated family member, estate planning, or other collective interests. The purpose is typically to ensure open communication, align on common goals, and resolve issues collaboratively.

Here are some examples illustrating the concept of a family council:

• Example 1: Managing a Family Business
  The Chen family owns a successful chain of restaurants. Every quarter, the parents and their three adult children, all of whom hold various roles in the business, hold a family council. During their most recent meeting, they discussed the potential expansion into a new city, reviewed the company's financial performance, and debated the merits of appointing a non-family CEO. This gathering serves as a family council because it brings together family members to make strategic decisions about their shared business enterprise.

• Example 2: Planning for Elder Care and Estate Matters
  After their mother, Mrs. Rodriguez, was diagnosed with a progressive illness, her four adult children convened a family council. They met to discuss her long-term care options, including whether she would move into an assisted living facility or have a live-in caregiver, and to review her will and power of attorney documents. They also decided how to fairly divide responsibilities for her care and financial management. This situation exemplifies a family council as the siblings gathered to make critical decisions regarding their mother's well-being and the management of her estate, which affects all of them.

• Example 3: Overseeing a Shared Family Property
  The Miller siblings inherited a beloved lakeside cabin from their grandparents. To manage its upkeep, schedule usage, and decide on major renovations, they established an annual family council meeting. At their last meeting, they discussed pooling funds for a new roof, creating a fair system for booking vacation weeks, and whether to allow extended family members to use the property. This is a family council because it involves family members collectively deciding on the management, maintenance, and use of a significant shared asset.