President George W Bush will welcome president-elect Barack Obama to the White House on Monday to discuss the transition phase over the coming months, the two announced Thursday according to dpa. Bush and his wife Laura will greet Obama and his wife Michelle before the two leaders retreat to a private meeting Monday afternoon. Obama said the talks would help ensure a "smooth, effective transition" between now and January 20. "I thank (Bush) for reaching out in the spirit of bipartisanship that will be required to meet the many challenges we face as a nation," Obama said. White House press secretary Dana Perino said the two families would take a tour of the private residence, which will be Obama and his family's home for at least the coming four years. The Obamas' two children, Sasha, 7, and Malia, 10, will not be attending.