When it comes to family businesses, don't make the mistake of thinking you owe your children a living, says Jolene Brown, a professional speaker from West Branch, Iowa.
According to Ms. Brown, your obligations as a parent include:
- Instill morals and values in your children.
- Give them an opportunity to get an education, but it's not necessarily pay for it.
- Provide a written estate plan, discussed with your children.
Other than that, children in the business need to earn their keep like any other employee.
For more information, check out Brown's Web site at www.JoleneBrown.com, or contact her by e-mail at: Jolene@JoleneBrown.com