Generational transitions are inevitable, yet the conversations that make them successful are often left unspoken. Our Coach-in-Residence, Sarah Thorpe Scott, brings deep experience supporting founders and next‑generation family members through the moments that matter most. In this article, she explores why these conversations so often go unsaid, and how starting them earlier helps lay the foundations for a successful transition, creating space not only for the transfer of assets or ownership, but for confidence, trust, purpose, and knowledge across generations.
In family enterprise systems, generational transitions are inevitable, but rarely straightforward. I speak with people navigating these moments all the time. Both generations often carry big expectations, yet avoid the very conversations that would make the handover easier. The situations vary, but the fears often share the same root: uncertainty, and a reluctance to have the conversation.
I see it in first-generation founders and CEOs who want to set the next generation up for leadership over the long term. In adult next gens who know – without it ever being said – that they’re expected to take over a farm, an estate, or a business, but who have never had a single real conversation with parents, in-laws, or siblings about what that actually means.
And in next gens in their twenties who know a significant amount of wealth is coming, but have no idea how much or when. They want to know so they can make sensible decisions about work, career, and life, yet they feel it would be “too grabby” to ask.
Generational transfers in family enterprise systems can involve ownership of assets, leadership roles (executive or non-executive), or other responsibilities tied to the family’s legacy.
Whatever the form, both sides often carry unspoken fears:
For those passing it on:
For those stepping in:
It’s tempting to wait until every detail – timelines, structures, expectations – is settled before talking. But that delay can make the transfer harder. In my experience, and in much of the research, these conversations in family enterprise systems should happen earlier than most people think.
Avoiding them often leaves everyone in limbo, filling in the blanks with guesswork, mixed signals, or quiet worry. You can’t have all the answers, but you can control some of the chaos. Starting the conversation sooner helps replace ambiguity with shared understanding and stops unhelpful meaning-making from happening behind the scenes.
Talk about what you do know and name what you don’t.
From the giving side: “I’m not sure yet exactly when or how the transfer will happen, but I know I want you to feel prepared and confident when it does.”
From the receiving side: “I don’t yet know the full scope of what I’ll be taking on, and I don’t want to seem pushy in asking, but I’d like to understand the intentions and expectations so I can prepare well and be ready to steward what’s being entrusted to me.”
These opening lines lower the temperature, make the intent explicit, and create space to explore the unknown together. Because generational transfers in family enterprise systems aren’t just about moving an asset or a leadership title from one set of hands to another.
They’re also an opportunity to transfer confidence, trust, purpose, and wisdom across generations and that process can start today, one conversation at a time.
At Bedrock we work closely with multigenerational families, helping them create and implement the right family governance framework to ensure good communication, sound decision-making and smooth generational transitions. To learn more about Bedrock’s approach to supporting long‑term family stewardship, please reach out to: info@bedrockgroup.com
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