This article are provided for information purposes only, and are not intended as legal advice.

Selling a business to a family member

October 26th, 2008

If you run a family business and if you have children involved in the business, do you sell/gift the business to the kids? What happens if it is obvious that one child is not capable of running the business and the other child can run the business – how do you treat the two fairly? If one becomes the heir, does the other stay in the business? Do you have the one child pay out the other child?

Does this create a problem in the family? Will this create a rift between the two siblings? How will the not successful child feel?

Filed under: Succession — Gary Landa @ 1:26 pm

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