What if the biggest risk in your transition isn’t taxes or valuation—it’s making assumptions about the people you love?

In this episode, Elizabeth Ledoux and her successor-partner Andrea Carpenter unpack how Transition 3.0 is changing the way families think about succession. Instead of designing a transition for your successors, Transition 3.0 invites you to build it with them—reducing assumptions, strengthening communication, and dramatically increasing success.

They explore why 60% of transitions fail, why proactive planning protects relationships, and how the Evolve program helps owners create clarity, optionality, and momentum—whether they plan to exit in 2 years or 12.

What You’ll Hear in This Episode:

• Why 60% of transitions fail—and why communication is the real reason
• The difference between Transition 1.0, 2.0, and 3.0
• How assumptions become landmines in family and partner dynamics
• Why designing transition with your successors changes everything
• The Evolve program and what makes it different
• What owners get wrong about timing—and why the best time to plan is before you want to leave
• How clarity reduces advisor costs and accelerates decision-making
• Real stories from families who were proactive… and those who waited too long

🔗 Connect with Elizabeth & The Transition Strategists

Website: https://transitionstrategists.com/

Facebook: https://www.facebook.com/thetransitionstrategists

Elizabeth on LinkedIn: https://www.linkedin.com/in/elizabethledoux/

Transition Strategists on LinkedIn: https://www.linkedin.com/company/transitionstrategists/

YouTube: https://www.youtube.com/@transitionstrategists

🔗 Connect with Andrea Carpenter & Your Next Gen Friend

Website: https://yournextgenfriend.com/

Instagram: https://www.instagram.com/yournextgenfriend/

YouTube: https://www.youtube.com/@yournextgenfriend

LinkedIn: https://www.linkedin.com/in/andreashaver/

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Apple Podcasts: https://apple.co/3IhMMux

Chapters in This Episode

00:00 — Welcome & Why We’re Talking About Evolve

01:26 — The People-First Path to Transition

02:44 — Why 60% of Transitions Fail

04:36 — The $83.5 Trillion Wealth Transfer & What’s at Risk

06:33 — Protecting Relationships: The Real Asset

08:05 — What Transition 3.0 Is (and Why It Works)

09:46 — Assumptions That Derail Owners

11:43 — Avoidance as a Decision

13:35 — The Transition Compass: Why, What, Who, When

15:41 — Optionality, Timing & Planning Before You’re Ready

17:20 — Identity Work & Life Beyond the Business

19:49 — Resetting Family Dynamics & Addressing Tension

22:42 — The Evolve Program & How It Works

25:11 — The Transformation: Clarity, Behavior Change, Strategy

28:53 — Story 1: Reactive Family Crisis → Reconnection

30:38 — Story 2: Proactive Partners → Faster, Clearer Decisions

34:11 — Starting Even Without a Successor

34:36 — Why the Best Time to Start Is Now

35:45 — Legacy and Harmony: Yes, You Can Have Both

37:35 — The Application Process & Who Evolve Is For

39:12 — Take a Small Step: Your Future Depends On It

40:02 — Closing Thoughts