If it were anyone other than your relative, I would tell you "A consulting company has two meaningful assets: existing relationships with employees capable of d

If it were anyone other than your relative, I would tell you "A consulting company has two meaningful assets: existing relationships with employees capable of doing the work and existing relationships with clients capable of paying for the work. 100% of the company's assets exist in your back pocket. This suggests that your BATNA to not receiving an equitable amount of the company is, approximately, that you set up shop down the road and very quickly that shop is everything that this now-hollowed-out-husk once was, except with a cap table which reflects reality. You may not realize this, but this is one of the oldest stories in consulting." Given that it's your relative, I'd weight "Hmm I probably don't want to damage relationship with X" against the economic reality that X is exploiting you while adding no value to the business. How you decide to act on that weighing is up to you. If it were me, I'd probably tell X "It's been fun working with you for the last two years. I'm looking for a new adventure. See you at the next family reunion!"