If you believe in the people in the new company, then imo you have to for it. It's your chance to retire in a few years.
I don't know your finances but how much of a lifestyle change for your family are we talking about? Are they spolied? I am serious about this, no one should think they deserve a luxury free ride all their life. Make them pitch in and help lift this new situation. Unless of course we're talking going from private to public school, worse insurance etc stuff then I'd reconsider. But if it's a question of iPad or a cheaper android tablet, then there's no reason not to.
Also remember that you only live once, but your legacy can live a long time. Do you want your name on an office or not?
Take my advice with caution since I am single with no kids.