My wife and I own a business with over six million in annual sales. My oldest son is getting married in about a year. He works for us but owns no part of the business. The plan is for all our kids to own shares in the company. Our attorney is suggesting we draw up a prenuptial. It feels awkward. Is a prenuptial necessary? (more…)

We are retiring after having owned two restaurants for over thirty years. My wife insists we give one each to our two sons. Our older son is irresponsible and I know he will run the business into the ground. Should we just sell the two restaurants? (more…)

My son is 23 and just graduated college with a degree in finance. I would like for him to take over the family business in 5 to 10 years. What are some suggestions for making this happen? (more…)

I think my boss is bipolar and it’s making my life miserable enough that I’m ready to quit. He not only regularly screams at me, but does it in front of my direct reports. I admit I make mistakes but sometimes he’s just wrong. He constantly changes his mind which makes more work for everyone. There are several good employees looking for other jobs. Often he forgets what he said. He’s only in his early 40’s so I know it’s not old age. Can you offer any ideas? (more…)

I was just hired to be part of a senior executive team in a company that has major fiscal and operational problems. The team seems fragmented; there’s much backbiting going on; and, everyone is in denial. The CEO may not be getting all the information he should get. This place will sink if they don’t get focused. I’m thinking of abandoning ship after only 2 months. Should I be up front with the CEO about what’s going on? (more…)

I’m on the Board of Directors of a private school. There has been a long-standing issue involving the effectiveness of a top school administration official. The board is divided as to how to deal with this. Any suggestions? (more…)