Wealth of Wisdom

CHAPTER 49Enhancing Sibling Relationships

Christian Stewart

When financial capital or an enterprise is co-owned by siblings, it is critical that this group knows how to collaborate while respecting the various roles they each may have in the enterprise. A foundation of effective governance at this stage is a group of siblings who have positive relationships and can collaborate at the ownership level. But how do you intentionally strengthen relationships and collaborative skills? How do you go beyond vague commitments? And how do you ensure that each sibling does his or her fair share in working on a positive change?

A Sibling Relationship Self-Assessment Worksheet

Appendix A contains a Sibling Relationship Self-Assessment Worksheet (“worksheet”).¹ The purpose of the worksheet is to allow readers who jointly own an enterprise or investments to prioritize specific steps they can take to enhance their relationships. Each sibling would complete it by him or herself, either together in a family meeting (each having own quiet reflection time to complete it) or as homework before the family meeting.

The results are shared in the group. Each sibling takes a turn to explain his/her results. If meeting virtually, then ideally each worksheet will be completed before the meeting, then scanned and sent to the meeting facilitator. The goal is to obtain a public commitment of the areas that each sibling agrees to work on to improve relationships, and to allow group feedback on these commitments. ...