We’ll be using the story of the Jenkins family to help illustrate some of the concepts addressed in this unit. Barry Jenkins ran a successful business for 35 years. His second wife Carol and his daughter Nicole both work in the business, and previously owned 10% shares each. Upon Barry’s sudden passing, ownership of the business was transferred evenly to Carol, Nicole, and Barry’s son Tim, who has no previous experience working in the business. We’ll revisit their story throughout the course.
Carol
Has worked in the business for 7 years. Previously owned 10%, now owns 30%
Nicole
Has worked in the business for 4 years. Previously owned 10%, now owns 30%
Tim
Inherited 30% of the shares quite suddenly upon his father’s passing
*10% of the shares are held in a trust for future grandchildren
