Headstart On Record Podcast

How to prepare to inherit a family business

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

ST GRAPHICS: NATASHA LIEW

Sue-Ann Tan

Follow topic:

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 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 straightforward. To prepare young heirs, banks and financial organisations run programmes, and even boot camps to help them learn to take over family wealth and business.

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 badminton player Kendrick Lee who co-founded Raffles Family Office, a provider of wealth management services helping ultra-high net worth families preserve and grow their wealth through the generations.

Highlights (click/tap above):

5:35 What is family legacy planning and governance?

7:30 The challenges the next generation face

9:00 Generational differences between father and son

10:49 What difficulties have the Raffles Family Office seen in dealing with multiple generations?

22:36 From being a badminton player to wealth management advisor

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