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04 May 2026
4 minute read

The succession series

Succession demands more than legal and financial planning; it is personal, emotional, and requires strategic vision.

Elena Grima Tortell

A six-part series on succession planning for family businesses by Elena Grima Tortell, Senior Associate, Deloitte Legal, offering practical insight into leadership dilemmas, rising-generation readiness, family offices, and governance for Maltese businesses preparing for generational change.

Succession is not a single event, but a process that rewards foresight and courage. The best time to start planning was ten years ago. The second best time is today.

Elena Grima Tortel Senior Associate, Deloitte Legal

Thought leadership

Succession is not a future issue, it's already here. 

Part 1: The great wealth transfer

Succession is not a future issue, it's already here.

Find out more

Thought leadership

Good succession starts with the founder’s self-awareness and willingness to act.

Part 2: Common dilemmas

Good succession starts with the founder’s self-awareness and willingness to act.

Find out more

Thought leadership

Succession is not a future issue, it's already here. 

Part 1: The great wealth transfer

Succession is not a future issue, it's already here.

Find out more

Thought leadership

Good succession starts with the founder’s self-awareness and willingness to act.

Part 2: Common dilemmas

Good succession starts with the founder’s self-awareness and willingness to act.

Find out more

Thought leadership

What are they thinking? Are they prepared? Do they even want the business?

Part 3: The rising generation

What are they thinking? Are they prepared? Do they even want the business?

Find out more

Thought leadership

Governance builds clarity, reduces conflict and increases value.

Part 4: Why is governance Important?

Governance builds clarity, reduces conflict and increases value.

Find out more

Thought leadership

Engaging and retaining talent beyond the family is critical to long-term success.

Motivating the team

Engaging and retaining talent beyond the family is critical to long-term success.

Find out more

Thought leadership

A modern tool for managing wealth

Part 6: Family offices

A modern tool for managing wealth

Find out more
Family business succession planning is no longer optional, it's urgent. 

With trillions of euros in wealth transferring between generations and 75% of Maltese businesses family-owned, the stakes have never been higher. Yet a startling reality persists: only one-third of family businesses have a documented succession plan, leaving the majority vulnerable to the "third-generation curse" that claims 70% of family enterprises.

Discover why proactive succession planning isn't just about preserving wealth - it's about safeguarding legacies, protecting employees, and securing your family's economic future.

Learn how families who act today gain a competitive advantage, while those who delay risk losing control of their business's destiny.

Read the article
Family business succession planning is one of the most critical yet overlooked challenges facing enterprise leaders today. 

While 85% of family business owners recognise that succession planning is essential to long-term success, only 23% are actively developing a concrete plan—revealing a significant gap between intention and action.

This article explores the three fundamental dilemmas that create friction in family business succession: the identity dilemma (letting go of a business intertwined with personal identity), the control dilemma (trusting the next generation with critical decisions), and the equality dilemma (balancing fair inheritance with business preservation). By understanding these emotional and strategic obstacles, family business leaders can transform succession from a source of anxiety into an opportunity for purposeful evolution.

Discover how successful transitions happen not through abrupt departures, but through intentional mentorship and a redefined leadership role.

Read the article

Family business succession planning often focuses on legal structures and wealth protection, leaving a critical gap: preparing the rising generation.

Without intentional development, even the most carefully planned transition can falter when leadership passes to unprepared successors.

Research shows that the next generation's readiness depends on three pillars: interest (do they want to lead?), capability (do they have the skills?), and values alignment (do they share the family's vision?). Yet many families never have the honest conversations needed to assess these dimensions—or worse, discover misalignment only after the founder has stepped back.

This third article in the series examines how to identify readiness gaps early, structure mentorship and progressive involvement, and build confident stewards through education, shadowing, and real decision-making exposure. Successful transitions blend continuity with the fresh perspectives the rising generation brings.

Discover how families who invest in preparing their successors—starting years before transition—create smoother handovers and stronger second and third generations.

Read the article

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Elena Grima Tortell

Elena Grima Tortell

Senior Associate | Deloitte Legal
+356 2343 2884