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Checklist for Protecting Next-Generation Minority Owners in a Family Business

Family businesses are the backbone of many American estates — but when ownership passes to the next generation, minority owners (those who inherit smaller ownership stakes) can easily be left vulnerable. Whether through lack of control, family conflict, or poor planning, minority shareholders often find themselves with little voice in the company their parents or grandparents built. The good news? A well-drafted estate and succession plan can protect those next-generation owners while keeping the family business strong and unified. Here’s a practical checklist every family and attorney should consider.