Why I Took My Teenage Daughter to Meet My Accountant…. And Why You Should Think About Succession Planning Too

A few weeks ago, I took my 18 year old daughter to the End of Year meeting with my Accountant. It wasn’t just a casual “Bring Your Child to Work” day, it was deliberate. She’s legally an adult now and while most of her thoughts are wrapped up in university studies and her social life, I felt it was time to introduce her to a side of life most young adults don’t see - until they’re forced to. 

After the meeting, we went out for lunch. That’s when I had the toughest conversation I’ve ever had with her: “If something ever happens to me, here’s what you need to know...” 

It wasn’t an easy conversation. Death is uncomfortable, and talking about it with your child, even a grown one, feels unnatural and can be very emotional. But as hard as that conversation was, it needed to be said. 

We Often Leave Succession Planning Too Late

So many people, especially business owners, avoid succession planning because it feels too far off, too grim, or too complex. But the truth is, none of us are guaranteed time. And leaving behind confusion instead of a clear plan can turn an already painful time into a legal and financial mess.

My daughter didn’t walk away from lunch with all the answers, but she walked away with something even more valuable: awareness. She now knows where things stand, who to call, what documents exist, and most importantly, that she’s not going to be blindsided if and when something happens to me. That knowledge is peace of mind - for both of us.

The Same Goes for Business Owners

If you own a business, ask yourself: what would happen if you weren’t here tomorrow? Would your team know what to do? Would your family know how to manage or transition the company? Or would everything be left in limbo?

Succession planning isn't just about writing a will or naming a successor. It's about creating a roadmap, one that includes financial clarity, legal structures, operational continuity, and personal communication. Whether you're passing down a business to a family member or preparing it for sale, the plan has to be clear, documented, and understood by the people who matter.

Start Sooner Than You Think You Need To

You don’t wait for a fire to figure out where the exits are. You plan ahead. That’s exactly what succession planning is - an exit strategy that respects everything you’ve built and protects the people who depend on you.

Taking my daughter to that meeting was the start of that process for us. Not because I expect anything to happen tomorrow, but because I know the future can’t be scheduled. If more of us had these conversations earlier, with our families and with our businesses, we’d save a lot of heartache later.

Start while you’re healthy. Start while you’re in control. Start while you can explain the “why,” not just leave behind the “what.”