Family business?

[Duechristmas]

The day has come when my parents have to decide whether to wind up the family business (property) or pass on.
3 siblings: one much older, successful in the same field, nearing retirement
One a little younger, doesn't work, relies on family business to get by
Me, significantly younger, successful in an entirely different field which I enjoy but which is high stress and lacks flexibility
I considered stopping my job to take it all on but I don't just lose the salary, I lose the pension, sick pay and stability. I wonder if this is my default mode as people pleaser.
Concerns are: dynamic with sibling 1 is difficult, and they are the 'expert'in the field, sibling 2 has made it clear they rely on the income and will expect this to continue.
The business needs capital investment to grow.
At some stage, inheritance will also become a factor.
Do I:
*Stay in my current role and suggest that parents wind everything up, applying for something new but in my professional field
*Give it a go, it could be amazing
*Something else

This has shit show and family breakdown stamped ALL over it

One sibling is nearing retirement?

how old are you parents?!

One a little younger, doesn't work, relies on family business to get by

well he can take a running jump then 😆

Oh no, don't do it OP! At the best of times, mixing family with business is a recipe for disaster. This does not sound like it will go well for you if you take it on and will likely end up being way more stressful than your current job. If the other two siblings are so invested then they can take it on.

Stay away from this mess!!!

@Duechristmas Is it a partnership or a Ltd Company?

Only take it on if you WANT to take it on. Don't fall for any emotional blackmail from parents nor siblings.

Sounds like you're already set up in your own job/career, so why would you want to give that up, seemingly more for your siblings benefit than your own?

If it is a Ltd Company, who are the Directors & Co. Secretary, and who are the shareholders? What proportion of shares does each shareholder have? If it is a partnership, who are the partners? What proportion of the business is owned by each partner?

What would be the current net worth of the business?

There are some pretty big tax implications here, so the best thing would be for the actual owners of the business to sit down with their accountant and ask for their advice on a variety of options, and which would be most tax-efficient.

By the way, you can be a part-owner or shareholder of a business and take no part in the running of it at all.