LibraryScenariosHow to navigate family disagreements about business bankruptcy and legacy
Scenario

How to navigate family disagreements about business bankruptcy and legacy

My siblings and I inherited our parents' small business that's been losing money for three years and we can't agree whether to try to save it through bankruptcy reorganization or let it die, and really we're fighting about whether we're honoring or betraying what our parents built.

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More people experience this than they realize.

What we've seen

A business bankruptcy decision has become entangled with competing interpretations of family loyalty and the meaning of inherited responsibility.

Ideas that help explain it
Worth thinking about

“Where Are You with Bankruptcy — the philosophy and the process?”

If this sounds familiar, the Library can help you find the bigger picture.