Customer Story

After more than two decades of helping families navigate succession planning, I’ve learned that the best plans don’t start with attorneys or accountants.

They start with three deceptively simple questions:

1.   Where have we been?

2.   Where are we today?

3.   Where do we want to go?

These questions aren’t just philosophical – they’re strategic. They help families build a foundation that’s business smart, family friendly, and ultimately makes tax and legal sense.

Where have we been?

Every family business has a story. One family I worked with traced their roots back to a single quarter section purchased by their great-grandparents. That history wasn’t just sentimental – it revealed patterns of resilience, risk-taking and reinvention that shaped how they approached the future.

Understanding your business history helps you appreciate the “tuition” you’ve already paid. It also helps you avoid repeating mistakes and gives context to the values that have guided your decisions.

Lesson: Don’t skip the past. It’s the lens through which your family sees the future.

Where are we today?

In every planning session, we ask families to assess their current state: strengths, weaknesses, opportunities and threats. It’s amazing how often family members have different answers. One successor thought the business was ready to expand; another thought they should "pump the brakes." This step isn’t about being right – it's about getting aligned. Without a shared understanding of where you are, it’s nearly impossible to agree on where to go.

Lesson: Alignment today prevents conflict tomorrow.

Where do we want to go?

This is where the magic happens. When families articulate a shared vision – whether it’s growth, vertical integration, simplification or legacy – they unlock clarity. One family envisioned growth where all earnings (and time) were reinvested, while another imagined reaping rewards in dividends (and more time with family).

These conversations are often emotional, but they’re also empowering. They help families move from reacting to planning.

Lesson: A shared vision turns uncertainty into strategy.

Why this matters before you call the experts

Attorneys and accountants are essential to succession planning – but they can’t answer these questions for you. If you walk into their office without clarity on your past, present and future, you’ll likely end up with a plan that’s technically sound but emotionally brittle and strategically incomplete.

When families do the work first – together – they make better decisions. They create plans that reflect their values, honor their history and support their goals. And yes, those plans are easier (and often cheaper) for professionals to implement.

Lesson: The best legal and financial plans are built on a foundation of family clarity.

Succession planning isn’t just about transferring assets. It’s about transferring vision, values and trust. And that starts with asking the right questions – together. Want help starting the conversation? We’re here to guide the way. Learn more about Family Business Planning.

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