I got a phone call from the son of a family-business owner. The son (Sam, 49) was calling on behalf of his father (Joe, 81). Here's the important part of our conversation. Irv: How much is your dad worth? Sam: Three million, maybe 4 million dollars at the most. Irv: Is your mom alive? Sam: No, she died about two years ago. Irv: Did she have a will? Sam: Yes, she left everything to dad. Irv: What do you think Success Co. (owned 100 percent by Joe) is worth? Sam: About 1.5 million dollars. Irv: How many kids does your dad have and how many are in the business? Sam: I'm the only one active in the business. My three sisters are not.
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