There are only a few issues. The kids, for example, may not want anything to do with the family business. They may not have the faintest idea what they want to do, but they know it has to be something different from what you did. However, your kids are enthusiastic about taking over the business. They figure that if anyone as dumb as you can run it, so can they.
Lawyers hear many sad tales that begin when the kids take over.
They have worked in the store from the time they were little. They know the business backward and backward, so to speak. Nevertheless, they never learned how to make important decisions. They don't know whom to hire or fire, or how much to spend. Hopefully, they'll learn before the company files for bankruptcy.