Yes, there are risks, but there are also rewards. Most of our experiences in hiring family have been positive. Maintain some safeguards, like not having family members report to each other. Finding the right balance between work and family is the key, but admittedly it is not easy. Our nature is to press in one direction until we crash into a wall.
Wisdom is to see the wall coming and adjust, bringing our lives into balance before it's too late.
In closing this chapter on balancing family and work, let me tell you about Ed. Ed worked in maintenance for a major auto manufacturer, where he typically put in seventy hours or more each week. I met Ed at a church function, and some time later he phoned me. I'm in a job that's eating me alive. I'm making good money, but there's hardly time to enjoy it.