This study examines relations between family meetings and succession planning necessary for a successful family business, assuming that development of a family business begins with a harmonious family which, in turn, brings successful business through family meetings. Consequently, it offers a framework for future research on relations between family meetings and succession planning. The study examines four family businesses in Korea and Australia and makes three propositions. First, it argues that successful family meetings demand shared values and effective communication among family members. Second, effective family meetings pave the way for successful succession planning. Third, the characteristics of family meetings may be different depending upon the evolution process of the family business. Obviously, there are limitations to generalize the study results because the study discusses four companies without paying attention to what types they are, what size they are, and what country they belong to. But the study makes a valuable contribution to the field of family business. First of all, there are not only very few scholars who specialize in family business, but also few published works on it. In this respect, this study on Western including Australia can illuminate much about what we have not known about family business. Second, there are few studies on the relation between family meetings and succession planning for family businesses in Korea. Therefore, this study advances and fills a gap in the theory of succession planning.