How to make a splintered family business work

What happens when the next generation is split into family factions? Having kids from multiple marriages can fragment a family business if legal safeguards are not in place.

Family business succession planning can be complicated enough where the owner has children from only one marriage, let alone where there are more than one set of children.

It may be that some members of the next generation are actively involved in the family business and wish to acquire equity, while others have no interest in the family business other than expecting a fair inheritance or ongoing support.

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