Succession in a family enterprise involves two distinct transitions: leadership (who runs the business) and ownership (who owns the business). These do not need to happen simultaneously, and often should not. The most successful family transitions separate management succession from ownership transfer, allowing each to proceed at the appropriate pace.
| Transition | Timeline | Key Decisions |
|---|---|---|
| Management succession | 5-10 years | Who leads? What training? When does founder step back? |
| Ownership transfer | 10-20 years | Equal or merit-based? Active vs. passive owners? Voting rights? |
Succession planning integrates with governance structures, tax and estate planning, and generational wealth transfer strategies. Contact us to begin your succession planning process.