Numerous studies have established that the social context greatly affects adolescent risk taking. However, it remains unexplored whether adolescents' decision‐making behaviors change when they take risks that affect other individuals such as a parent. In the current study, we sought to investigate how the social context influences risky decisions when adolescents' behavior affects their family using a formalized risk‐taking model. Sixty‐three early adolescents (Mage = 13.3 years; 51% female) played a risk‐taking task twice, once during which they could make risky choices that only affected themselves and another during which their risky choices only affected their parent. Results showed that adolescents reporting high family conflict made more risky decisions when taking risks for their parent compared to themselves, whereas adolescents reporting low family conflict made fewer risky decisions when taking risks for their parent compared to themselves. These findings are the first to show that adolescents change their decision‐making behaviors when their risks affect their family and have important implications for current theories of adolescent risk taking. The vast majority of research investigating adolescent risk taking has only considered decisions teens make that have consequences for themselves, neglecting to understand how risk taking behaviors vary when others are affected by their decisions. The current study examined whether adolescents changed their risky decision making when their parent was affected. We found that adolescents reporting high family conflict tended to take greater risks for their parent compared to themselves, whereas those reporting low family conflict took fewer risks. This work highlights the importance of adolescent‐parent relationships in helping shape other‐oriented risk taking.