Successful entrepreneurs and high-net-worth investors generally take tough meetings and strategic decisions in their stride.
Often, though, there is a marked reluctance to do just that when the issues at hand relate to succession planning - passing on wealth, investments and, possibly, control of the business to members of the next generation.
The consequences of getting it wrong are easy enough to see: protracted arguments, court battles and lingering acrimony. But still it can take years, and all kinds of advice and persuasion, to put in place the agreements and structures needed to effect a smooth transfer of assets.
In most cases, the legal and technical aspects present no great problem. It may be necessary to set up trusts, establish the future ownership of overseas properties and offshore accounts, realign shareholdings or limit tax liabilities.
However, there is no shortage of professional expertise to deal with each of these areas.
The real sensitivities of succession planning concern the questions about what, when and who. Finding the answers is a matter of understanding not just the wishes of the current business owner, patriarch or matriarch, but also agreeing on the values, goals and attributes that motivate the intended beneficiaries.