When Legacy Meets Loyalty: Planning for the Uneven Realities of Family Business

When only one child puts in the time and sweat to grow the family business, but the others expect an equal cut—it’s a recipe for conflict. The truth is, “equal” distribution often feels unfair to the one who’s actually been running payroll, managing risk, and keeping the lights on.

If you own a family business, the question isn’t just what your kids will inherit—but how.

Consider these steps:

• Separate sweat equity from legacy assets. The child involved in the business may deserve a larger ownership stake. Others may be better suited to inherit non-business assets like real estate, investment accounts, or life insurance proceeds.

• Put it in writing—now. A clear, customized succession plan or operating agreement avoids family feuds later. Your intentions shouldn’t be a mystery when you’re no longer around to explain them.

• Have the hard conversations early. Talking now saves your family from litigating later.

  
  

If your estate plan or operating agreement doesn't reflect how your family actually works, let’s fix it—before the resentment starts.