I have a few friends with their kids in the trade and lots of contractors that have given their companies over to the son. Some transition very well and some go to war. Some sons improve the business and some bury it.
I did my apprenticeship in a family business and I felt a lot of resentment at the disparity in treatment between me and the bosses son or son in law. I often would see my paycheck with the number of hours exactly as i worked them and see the kid get a 40 hour check on a 29 hour week. No pager on the son in law and 3 am callouts for me. Never mind my pay rate was based on the rather pitiful journeyman rate he paid and see the son in law that never even finished school get journeyman rate.
On the other hand I have a friend that fired his son because the son expected preferential treatment and the boss said at work you better darn well earn the money you get paid because I ain't carrying you till the grave and the sooner you learn that the sooner you'll be your own man.
I know another contractor who's son has recently taken over the business and the son has finally become a contractor. I used to think he was useless but once he got the responsibility for the business he pulled up his pants and earns the money he makes now.
Every case is different as the man.
