You are an entrepreneur and built up a business. You are getting older and you have a choice, you can give/sell the business to your kids or you can sell the business to a third party. Is that an easy thing to do?
Many people who have built up a business find it hard to let go of their business. They want to slow down but they still want to call the shots. I am aware of a business where the father built up a successful business. He would travel to Florida and lived there for 3 months and he would let his kids who were in the 50’s t0 run the business.
Even though he was in Florida, he wanted to still be informed daily of what was going on and he still had to approve of what the kids did. He then appointed an heir to run the business but this was one of the kids, two of the kids were left out and in fact one left the family business.