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How is the young guys suppose to carry on?
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sand85
Posted 2/9/2019 00:21 (#7307998 - in reply to #7307620)
Subject: RE: How is the young guys suppose to carry on?


C IL
It’s financially fair if Jr was paid a market wage or equivalent value/equity shares during the period for which he was an employee/partner. If Jr worked under market value and gave up 20 years of climbing the ranks in a different career field it’s a pretty raw deal, worse given the family dimension.

Familywise it seems it would take an incredibly mature and forgiving son to process that situation and maintain a functional relationship with Dad. I would think getting over the feeling of betrayal would be a protracted process. I would think getting financially disentangled would also be an involved process.

More and more it seems difficult for a younger generation to work for less than market value in a business without a clear written plan for a future handoff/succession.

Edited by sand85 2/9/2019 00:24
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