SFAI member · international network in 70 countries
Home / Glossary / Family constitution
Glossary · Risk, Internal Control and Compliance

What is Family constitution?

A shared document in family businesses that governs relationships between family, business and ownership, and the rules for family members working in the company, joining management and transferring shares.

A family constitution may cover structures such as the family assembly and family council, dividend policies, dispute resolution and succession planning. For its provisions to be legally binding, they may need to be reflected in the articles of association or a shareholders' agreement.

Related terms

Last updated: October 22, 2026 · This definition is for general information only.

CallRequest a Proposal