Entertainment Meghan Markle and Harry show how families struggle with...

Meghan Markle and Harry show how families struggle with financial ties

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Prince Harry and Duchess Meghan of Sussex has a lifestyle that goes beyond what most Americans can imagine. But his struggle to separate from his family, and his financial control, is close to home.

No matter the level of income of a family, disagreements arise about money, independence and roles.

That is even more the case in family businesses, which John Davis of the MIT Sloan School of Management says represents half of the publicly traded companies in the US. UU. And two thirds of the companies in the world. The "business" of the royal family is largely to provide ceremonial leadership in the United Kingdom, which a brand consultant estimates at $ 2.3 billion a year through its drive to tourism and other industries.

Families who do not run a business together also become entangled in the financial lives of others. Older generations are increasingly tied to the finances of younger generations, a problem that can reach a critical point in life's conjunctures such as marriage or the birth of a child, financial experts say. Such events can cause adult children or their parents to reassess their priorities.

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Harry and Meghan are & # 39; going back & # 39; as members of royalty, they will spend time in North America

In the case of Harry and Meghan, their decision to separate came eight months after the birth of their son, Archie. In their Instagram post last week announcing their decision, the couple cited their desire for "geographical balance" to raise their child between the United Kingdom and North America.

For family business members, "there are expectations of you, not only in your work but also in your lifestyle," as in what neighborhood you live in, says Davis, who is the director of the Family Business Programs faculty at Sloan of MIT School and advises multigenerational family businesses.

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