Transitioning the Family Business

On this episode of Intelligent Money Minute, we’ll be interviewing Shelly Hamilton on transitioning the family business. During this episode, Shelly is joined by her son-in-law and daughter, Adam and Megan Morgan. They talk about the hurdles, challenges, and considerations that took place when transitioning the family business to Adam and Megan. Shelly stresses the value of communication during the process and considering the feelings of others in the family.  

Transitioning a family business is one of the most difficult things to do. When you factor in transferring a family business to another family member, you take the difficulty to another whole level. There can be hard feelings and difficult conversations. One of Intelligent Investing’s core values is Truth. We believe that speaking the truth in love is so vital…especially when it comes to talking within families. We strive to unite families with financial communication, and if you are going to be transferring your business in the near future (especially to another family member), we’d love to start having a conversation with you. We can help be the liaison between family members, and we can help you plan for the many aspects of transferring a business.

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Shelly Hamilton Bio

Shelly Hamilton, the daughter of Frank Garlock, married Ron Hamilton aka “Patch the Pirate” in 1975. They have managed Majesty Music and written sacred music for children and adults since they joined the ministry in 1978. Shelly currently ministers at Majesty Music as pianist, composer, arranger, and recording producer. In 2013, their son killed himself after years of struggle with mental health issues. The family’s public struggle and acknowledgement of mental health issues has reached people around the world. Most recently her family faces a new challenge: Ron Hamilton’s early onset of dementia. Her insight and music will encourage anyone facing the challenges of life.

In January 2018 Majesty Music announced their third generation of leadership. After years of waiting for God’s timing, Ron and Shelly transitioned the ministry over to their son-in-law Representative Adam Morgan and his wife, Ron and Shelly’s daughter, Megan.