Sunday, January 22, 2012

What should I do about my family business?

I buried my father on the 25th of January. His mother died last Friday. It is a lot to deal with. They have property. Neither had a will. I am the sole beneficiary.



I should say that I had an extraordinary relationship with both. I am stricken with grief over the losses and my primary focus has been about life and death type questions and answers. Trying to make decisions about keeping them alive artificially or to let them go. Neither had wills and neither provided answers about what they wanted in their individual situations. As it turned out, it didn't really matter because they both did not respond to artificial life-giving means. And they both died.



My late grandmother owns a business in a small to medium size town. As I plan the funeral, buy flowers, arrange burial, everywhere I go people ask what I'm going to do with the business. I don't want to move back here. But I hate to sell the place because of my family. What should I do?

What should I do about my family business?
I'm sorry for your losses.... this has to be so difficult, considering you lost two people you loved so dearly, and in such a short time frame.



You really need to go through your grieving process... you will "let them go" and come to acceptance, given time, hon.



People are being rude asking you questions about the business... and you have every right to tell them they are intruding. Or simply ignore the question all together.



Keeping a "thing" (such as the business) isn't going to be of comfort or very promising for you, if you do not wish to run it or live in their town. You have memories of what your Dad and Grandmother did during their lives, and that is the most important thing of all.



Do what is best for YOU -- you have to live your own life, focus on the goals you have already set. If these did not include runing your grandmother's business, then do what you need to do.



Take care of YOU, no one else will.



sending heartfelt sympathy.
Reply:Sorry for your losses. It's not a good time to have to feel like you need to make such a decision, so; what about hiring a manager to run the business for a while and see how that goes. That would give you time to make the right decision.
Reply:You don't say whatkind of Business, can the Biz be run by managers, does the biz support familys that would be left un employed if you closed he biz, has anyone offered to buy the biz, are the employees in a position to buy you out.....

a manager would prolly be good as an interim since you are so overwhelmed at the moment.....
Reply:The best decision for a business owner is to have the business run with out them. There is a way, so find out how to have the business run without you. It may already. Consult with a lawyer. You can reap the rewards while keeping your families wishes as well.
Reply:Sell it. You answered your own question when you said you don't want to move back there.
Reply:my condolences it must be hard. I would try ro maybe find some one with an interest in running the buisness, then try to be silent partenr so then you have a say as well. or maybe relocate to where you live if you want to run it but dont want to live whereever it was. my father owns his own buisness and if he goes (god forbid) i get the buisness because i can run it and am the only person in our family that can


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