---
title: How to be fair when transitioning to the kids [cartoon]
description: Business owners face unique challenges when they have multiple children and those children have their own expectations as to how the family business should transfer to the next generation.
image: https://blog.jpabusiness.com.au/hubfs/Other_Images/Blog_Images/jpa06.jpg
---

 27 October 2016

# How to be fair when transitioning to the kids [cartoon]

WRITTEN BYJames Price | JPAbusiness

![jpa06.jpg](https://blog.jpabusiness.com.au/hs-fs/hubfs/Other_Images/Blog_Images/jpa06.jpg?width=638&height=425&name=jpa06.jpg)

Business owners face unique challenges when they have multiple children and those children have their own expectations as to how the family business should transfer to the next generation.

Engaging a business advisor early on can assist to ensure each party feels that the way a business is transferred to the next generation is fair and reasonable for all.

This process is **best started well before parents are looking to retire or children are heavily involved** in the business.

#### **Several children ****+ partners + individual perceptions/circumstances**

#### =

#### **1 big challenge to make it fair**

Expectations need to be managed and established before individuals can make their own conflicting assumptions about the future of the business.

If you need support or advice regarding family business succession, [contact](https://landing.jpabusiness.com.au/contactus) the team at JPAbusiness on 02 6360 0360 or 02 9893 1803 for a confidential, obligation-free discussion.

 

![The_Business_Succession_Scorecard_COVER](https://blog.jpabusiness.com.au/hubfs/1.%20Images/4.%20Document%20cover%20images/Checklist%20and%20template%20covers/The_Business_Succession_Scorecard_COVER.png)

 Free template

 Business Succession Scorecard

Use this template to: Rate your business' preparedness for succession, based on several key parameters; Determine whether your business is prepared for the future; Help you set up your business for future success.

[Learn more ](https://blog.jpabusiness.com.au/operator/business-succession-scorecard)

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Topics

- [family business ](https://blog.jpabusiness.com.au/blog/topic/family-business)
- [exiting your business ](https://blog.jpabusiness.com.au/blog/topic/exiting-your-business)
- [succession planning ](https://blog.jpabusiness.com.au/blog/topic/succession-planning)

About James Price | JPAbusiness James Price has over 30 years’ experience in providing strategic, commercial and valuation advice to Australian and international business clients. James’ blogs provide business advice for aspiring and current small to mid-sized business owners, operators and managers.

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