We grow up believing that it is disrespectful to ask parents certain 'personal' questions - particularly issues related to income or business. Of particular taboo would be questions regarding inheritance or plans for estate distribution.

While it typically is not appropriate to meddle in these issues, when an adult child is dependent the stability of a family business, he or she has a vested interest in understanding what you have in mind for the future.

As a parent of the family you may feel uncomfortable with your child's 'right to know.' But an adult child or relative working in a family business usually is compensated at less than a comparable wage elsewhere in the same industry. They often consider their total income to be a combination of the wage they earn today combined with a payoff in the form of inheritance.

Allowing an adult relative the opportunity to discuss these very important concerns is critical for their long term financial health, their loyalty to the business, and their dedication to you.

For ideas and tools to promote family discussion, take a look at
"Who Will Get Grandpa's Farm", a Purdue University website which offers short video examples.