By Charlie Kim, Matthew McGuigan and Ishmeet Juneja ( May 6, 2026, 2:50 PM EDT) -- For many family businesses, especially those built across generations, the business is more than an asset. It represents decades of effort, risk-taking, and personal investment, which forms part of the family’s identity and legacy. Many family businesses are passed down among generations, with the ownership and management of such businesses often governed by family shareholder agreements. Yet, other family businesses may lack a clear succession plan when the next generation is not willing or capable of stepping into an owner-manager role....