Walter Black (Mel Gibson) is a depressed CEO of Jerry Co., a toy company nearing bankruptcy. He is kicked out by his wife (Jodie Foster), to the relief of their elder son Porter (Anton Yelchin). Walter moves into a hotel. After several suicide attempts, he develops an alternate personality represented by a beaver hand puppet found in the trash. He wears the puppet constantly, communicating solely by speaking as the beaver, which helps him to recover. He reestablishes a bond with his younger son Henry and then with his wife, although not with Porter. He also becomes successful again at work by creating a line of Mr. Beaver Building Kits for kids.