Richard has spent 35 years building a regional distribution company now worth $30 million. His daughter Caroline works in the business and wants to lead it. His son William is a doctor who has never had any interest in joining the company.
Richard wants to treat his children fairly. But leaving each child half the business could give Caroline responsibility without control, while leaving William with an illiquid investment he never wanted. Selling the company would solve the ownership problem, but Richard isn’t ready to give up what he has built.
For advisors, this is a distinct succession challenge: how to transition control, allocate economic value and preserve family wealth when the next generation does not share the same ambitions.