Mom (upon leaving their attorney’s office): This estate planning is driving me crazy! I know we’re trying to reduce taxes but it’s important to me that we treat all the children fairly. How else can we do that without giving each one an equal interest in the business? Dad: But why would we do […]
Webster’s describes entitlement as “the belief that one is deserving of certain privileges.” But when it comes to family businesses, a sense of entitlement is more than feeling “owed” or “deserving,” it’s about expectation as well. Indeed, usually the problem isn’t the feeling of entitlement; it’s how family members act, and how such actions are […]
Matt’s having problems with his boss, and it’s gotten so bad he’s considering quitting his job and looking elsewhere. He’d been put in charge of a new division, but it’s foundering, and he feels that he’s getting blamed unfairly for its failure. He sees the business suffering because of high overhead, partly because his boss […]
