This article discusses the challenges of knowledge management within intrafamily succession against the background of the knowledge-based view. As a knowledge transfer is crucial for a successful business continuation, factors that promote the interpersonal knowledge transfer are identified. Since the quality of the relationship between successor and predecessor is considered a key determinant of knowledge transfer, the role of relational competence in the knowledge transfer process is analyzed. A laboratory experiment (N = 107) was conducted to test the derived hypotheses. In its conclusion, the article presents the empirically confirmed strong relationship between relational competence and knowledge transfer within intrafamily succession.