Family councils support the management of family-owned companies, including support beyond classic business issues, especially in the context of the “inheritance” process, thus in the process of business succession to the next generation. However, despite the numerous family-owned companies in Bosnia and Herzegovina, which are significant business actors, the impact of this important organizational aspect of the family business on the succession process is unknown. In order to shed light on the that question, a research was modeled with the aim of examining the influence of significant family business factors on satisfaction with the succession process, where an independent variable was designed as a separate construct in the model, which takes into account the role of family councils in the aforementioned process. The conducted empirical research aimed to analyze the cause-and-effect relationship between satisfaction and perception of the success of the succession process and key business characteristics of family companies in Bosnia and Herzegovina against the existence of a family council as an organizational body in this type of company. The subject research was carried out in the period from 2021 to 2024, and with the use of the convenient sampling method, it included 205 respondents, thus valid representatives of family-owned company. The research results indicate that the existence of a family council leads to a higher level of satisfaction with the succession process and a higher level of its perception of success within family-owned companies in Bosnia and Herzegovina.