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Stories that are passed down from generation to generation are a way to create a family legacy that will be remembered long after we are gone. These stories are precious in understanding who we are and where we came from. Too often, the people who hold the keys to family stories lose details to memory loss or pass away before their histories can be recorded. Vacation time and the holiday season are ripe opportunities for families to seize the moment to capture family history across generations.

Every family has secrets and difficult stories—the “skeletons in the closet”—that they would rather not share. While most professionals agree that exposing skeletons to daylight is a good thing and can foster healthier family dynamics, one must be sensitive to the potential emotional impact of these stories on individuals within a family and proceed tactfully. When families explore their history and let the skeletons out and watch them dance, it can help current family members clarify their values and recognize that amends can be made.

Forging a close relationship among siblings during childhood is hard enough, but as siblings become adults, the development of disparities in wealth can challenge even the strongest relationships. In business-owning families, the potential ramifications not only affect the personal lives of the immediate family, it can also disrupt the alignment of corporate vision, tolerance for risk and the overall decision making abilities of everyone involved. This article discusses a number of ways to mitigate and manage sibling wealth disparity.