A blessing for those inheriting a family business

When it comes to passing the business to the next generation, an awkward dance takes place. Parents are struggling with all kinds of issues: how to be fair, whether to be equal, when to gift assets or whether to sell the business to the next generation, how to keep a modicum of control, how to handle conflict among their kids, how to minimize taxes, how much is too much to give, what role charity plays in their estate, and the list goes on. And, by the way, the parents may not be in agreement about the answers to these questions, further complicating the effort.

Meanwhile, the next generation often doesn’t feel good asking about their inheritance — and might have even been told, “It’s none of your business!” Yet, if they have returned to the family business, if they are trying to raise a family and plan for the future, if they are trying to decide about their or their spouse’s career, if they want to change the business at all, it helps to know some of the answers to the questions their parents are working on.

Knowing that the parent’s intent is often to see the family business transitioned to the next generation, this blessing speaks to the history, hope, and challenge in the handoff.

This business passed down
From generation to generation
From one family to another 
Is much more to us than its financial worth.

Planted long ago, this business lives and grows
Decades of hope, promise, and service 
Embodied in assets and relationships
Nurtured through trials, tended with care.

This labor of love we pray meets your calling
In a vocational succession
A parade of our family’s passion 
Shaping the future of your life’s work.

Planning for transition creates such unease
The stakes are high; we have only one shot
Resulting in episodes of uncertainty for you
And points of disagreement between us.

And, while this business is a part of our legacy
We grant you permission to change 
That which is helpful in making you happy
Knowing we will struggle with letting go. 

May God help you as you inherit this business:

May this endeavor be a blessing in your life
And not a burden to your family.

May you have the confidence to lead
And hear the counsel of wise friends.

May you know our deep gratitude and pride
In your choice to carry this enterprise another day.

Text within this block will maintain its original spacing when published

A good man leaves an inheritance to his children’s children, but the sinner’s wealth is laid up for the righteous. (Proverbs 13:22) 

Prior blessings: A blessing for an aging parent, a blessing for those between roles in the family business, a blessing for in-laws in the family business, a blessing before a meal, a blessing for a couple transitioning the family business, for those who do not return to the family business, for one who forgives others, for a long-term key employee, for the next generation’s new business venture, for a family member recovering from addiction, for a sibling partnership, for the end of a family business partnership, for grandparents in the family business, for those experiencing family estrangement, for your estate planning efforts, for a family business gathering, upon the passing of a family business member, for rest, for the next generation’s return, for the senior generation letting go, and for the new year.