Farm Succession and Estate Planning
Farm Succession Planning is as much an emotional journey for the family as it is a practical challenge involving financial, tax and legal matters.
Succession Planning assists your family in managing the transition of your farming business to the next generation. Ideally, this plan should be determined several years in advance of the family wanting to implement it.
Farm 360 Succession provides independent guidance and support to you during this process. Our step-by-step process provides the opportunity for the parents to determine what their future will be, protect their legacy, to bring renewed energy to the farming business and to ensure that family relationships are maintained into the future.
Farm 360 Succession is unique in that our independent service model has a strong focus on family meetings and the parents communicating their farm succession and estate outcomes to all family members in a supportive environment.
Our Services
What we do?
We also have an in depth understanding of the taxation and legal issues involved in farm succession and estate planning.
Once we have determined your ‘Big Picture’ solution we can either assist you in implementing the technical ‘nut and bolts’ requirements of your succession and estate plan – or alternatively, we can work with your accountant, solicitor and financial planner and provide them with a detailed report of what is required to be implemented.
- Farm Succession
- Family Meeting Facilitation
- Assist Parents in developing their Future Direction
- Assist in the development process of the next generation to Farm Manager Role
- Estate & Wills Planning
- Asset Protection of the farming assets
- CGT Tax Advisory on the transfer of farming land
Good Planning
Good Business
One of the most common regrets that the farming parents face is not having begun their succession planning process earlier.
It may not be executed for several years later, but having the plan worked out, documented and communicated to all family members provides direction and clarity to the farm business and family members
Succession Planning is not an ‘end’ for farming parents as they have the opportunity to determine their ongoing future role in the farm business.
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