Transferring ownership of a farm business isn’t always straightforward but the sooner you begin to plan the better. Unexpected illness, farm accident or sudden death can happen to anyone and so it’s important to consider your options and discuss these with your family today and make a will. Farming families are traditionally very strong units and working together on future plans will further strengthen them both as individuals and collectively.
Crisis Planning
Unfortunately crises can happen, and most will be outside of our control. These may include things like disease outbreaks, bereavement, illness, but some may also occur because action wasn’t taken sooner. To get ahead, it is important that we develop skills to identify these challenges at an early stage and are prepared both physically and mentally to deal with them when they…
Farm Succession Planning
Establishing a plan for the farm succession will ensure effective transfer of responsibilities and assets to the next generation. This should involve everyone within the family who may be affected and respects the roles they may play now and in the future. A strong succession plan will help protect your farm business and your family….
Life Stage Planning
Establishing a Farm Family Progression Plan, specific to your own family and farm business will clearly set out individual and collective visions and help everyone establish a clear path to achieve their goals. Defining and reviewing your farm business goals are essential in planning for the future. Often farmers have an idea of how they want their business to…
