Family entrepreneurship is a form of business model in which the business is started by one of the family members and other family members are also involved through the business of the company. Family entrepreneurship differs from other business models because it is based on trust, tradition and a long-term vision. In a family business, the family is the initiator of strategies, visions and goals of the business, also family members who are involved in the family business manage risks and human resources. Community, mutual trust and working towards a common goal stand out as an advantage of family business. Although family entrepreneurship is woven with numerous advantages, there are also disadvantages in the business itself. Disadvantages are manifested in moments of important business decisions and processes when there is a conflict of opinions and individual interests. Deficiencies can affect professionalism and decision-making that are important for the further course of the company's operations. Family businesses are indicators of economic development and are of great importance for the family itself and their members because it provides financial stability and security for current and future family members. A family business goes through various stages of development and decline but the biggest challenge for this type of company is the succession phase. Most family businesses face a crisis during the succession phase and the family business collapses. The transfer of ownership to the heir can be partial or complete, but it is very important that the heir is willing to continue the family business in order for it to be successful. If the heir is not interested in a certain branch of business in which the family business operates, there may be disagreements and misunderstandings and it is necessary to employ a manager who is not part of the family in order to maintain the business. The problem of inheriting a family business is shown on the example of Anastazia real estate agency.