In this collection of articles from BusinessWeek Online, you will also find stories about entitlement, trust, empowerment, values, fairness and more. The breadth of issues that business families face is simply extraordinary.  As well said by one family businessman, “From a distance, they all look alike, but when you get up close they’re like snowflakes.”  No two are ever identical.  These are real tales from the trenches.  You’ll find stories about the challenges faced by seniors struggling to “let go” and the younger generation trying to “take hold.”  Click on the title below to read the full article.

Catalog of articles

• Pass the Throne, Wisely
  When founders offer businesses to their children, both sides need to weigh rational planning against the proposed handover’s emotional appeal.
• Equal vs. Fair in Family Businesses
  Relatives’ varying levels of contribution often conflict with the similar compensation that they expect.  Here’s how to address this issue.
• Father of the Business — Forever
  Many parents refuse to let go of the family enterprise, even when their “kids” are managing the business beautifully.
• When the Kids Aren’t Ready — or Able
  Rather than feeling entitled, your adult children should earn their keep and “take hold” of the family business the old-fashioned hands-on way.
• In Business, Trust Will Set You Free
  For family-run concerns, worries over a relative’s dependability can take a toll on operations.  Here are tips on resolving such issues.
• Uncle Alvin’s Long Run
  My uncle, Alvin, died recently.  It was a major loss that triggered some powerful memories for me.  Second only to my father, my uncle had been my closest …
• Who Calls the Shots?
  On the way to our office in Boston, my father and I were at the entrance to the Massachusetts Turnpike when I turned to him and asked, “So, what do you think?”
• Dealing with Family Business Openly
  Back in my college days, I remember arguing with my parents that grades represent a reflection not only of a student’s ability to learn but also of a professor’s …
• Easing Off the Parental Controls
  When toddlers are just starting to walk, we learn not to pick them up every time they fall — if we keep doing so, how will they ever learn to stand on their own?
• Where the Family Sets the Tone
  Have you ever heard the statement, “If you take care of your employees, they’ll take care of you?” It reminds me of an story shared by a friend about her elderly …
• He Ain’t VP, He’s My Brother
  A lifelong career in the family business isn’t always the right choice.  Witness the recent highly publicized stories about Rupert Murdoch and his son, Lachlan. …
• Divvying Up the Family Business
  When I was recently asked about the difference between the value system that works in families and the one that works in businesses, I shared the old story about the …
• Got In-Laws? Get a Lawyer
  The odds sound grim, but the research data confirm them.  Today, young men and women will likely have more spouses than children. Unfortunately, the implications …
• Letting Go of Your Business
  I’d like to share an e-mail I received recently, as well as my reply.  Dear Paul, My wife and I are in our late 60s and want some free time for ourselves. We own our …
• Can Business Bring a Family Together?
  I’d like to share some correspondence with you.  A colleague sent me the letter below.  My reply follows. Dear Paul, I’m working with a family who’s dealing with a …