Transition Process

Yes, you can design a transition process for your family enterprise and foundation that the whole family can endorse.

Business succession is like other life changes: it happens. Succession is uncomfortable, messy, and difficult on relationships within the family. It upsets the status quo and makes people reactive and less thoughtful. Fear of upsetting one another causes families to pull back and avoid careful planning. This lowers the odds that a family will make succession choices that can be endorsed by everyone and increases the chance that the outcome will weaken both the family and the family enterprise.

It is possible to plan succession that reduces the impact on the people involved, removes upsetting uncertainties, and preserves both the entity and the individuality of its family members. Colleagues Drs. Ann Bunting and Dan Papero add their experience and know-how to our clients’ transition process.

Ownership, leadership, and management of your enterprise or foundation will change, that is clear; what is unclear, is how productive it will be and how your family will weather it.

If you wonder if you can design a transition process that the whole family can endorse, Yes, you can.