How can I be assured that my children will still get along after the transfer?
Minneapolis attorney Sally Grossman explains that it is difficult to assure that children will get along after the transfer of a family business.
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How can you be sure that your children will along after the transfer? The short answer is you can’t. You cannot legislate appropriate behavior and you’re going to have sibling rivalry. Lots of times people behave themselves pretty well, as long as mom and dad or at least one of them is still alive. When mom and dad are gone, the gloves can kind of come off.
So I’d say first of all, disabuse yourself of the idea that you can necessarily control. The best thing you can do I think is not put the kids in a situation where it’s going to be worse. You don’t want to exacerbate the tensions that are already there between children who are active in the business and children who are inactive.