Leadership and Transition Planning domain

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The needs and activities related to the family’s coping with, developing strategies for, implementing, and regaining equilibrium after common multigenerational transitions, including the specific activities for supporting transitions across time in the leadership of the family and its family enterprise. 

The Leadership and Transition Planning domain focuses on two main types of experiences that can stress an UHNW family and/or its family enterprise. One is the broad range of common transitions that a family must navigate: generational, aging, entrances and exits of family members, changes in financial fortunes or status, and changes in the governance or decision-making of the family. The other area encompasses the many strategies and plans involved in leadership development, succession, and transition in family governance (e.g., family councils) and family enterprise governance (e.g., owner councils, boards of directors). These activities may include personal assessment, leadership development, coaching, and succession management for those transitioning into and away from key positions.

Knowledge and skills needed in the Leadership and Transition Planning domain cover both general areas (e.g., knowledge of common stages of change or reactions experienced during major personal or family transitions) and specific areas (e.g., how to implement transition planning in C-suite leadership of a major family enterprise or the family office) of expertise.

The Leadership and Transition Planning domain is a component of the Cultivation of Family Capital cluster of the Ten Domains of Family Wealth model of The UHNW Institute.

See Also: The Ten Domains of Family Wealth

The UHNW Institute. Our Thinking, December 15, 2022.  https://www.uhnwinstitute.org/our-thinking/.

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A Glossary of Family Wealth Advising Terms

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