An Introduction to Farm Succession Planning

In this ‘Introduction to Farm Succession Planning’ section of the hub, we have compiled a list of resources that introduce what succession planning is, some help to get started, some ‘do’s and don’ts of succession planning’, and other resources to do some introductory reading into the topic. Gaining some basic knowledge into the succession planning process can give you the confidence to begin the conversation.

Beginning the process of succession planning can be incredibly daunting for both the incoming and older generations. Succession planning is a process that takes time to plan and implement and is incredibly important to ensure family relationships and the farm business to continue to prosper. It can be tough beginning the process, however the risks of not communicating and making assumptions around succession can be devastating.

Resources in this section of the succession planning toolkit can help assist you if the following questions are on your mind:

• What should we discuss in a family meeting?
• Who can help with succession planning?
• How do I prepare for succession planning?
• How do I start the succession planning conversation?
• How do I plan for retirement?
• What should I consider before coming home to the family farm?

In this introductory section of the hub there is a Succession Planning Glossary, Succession Planning FAQs, ‘Succession Planning Factsheet’, ‘Estate and Succession Planning’, ‘The Do’s and Don’ts of Succession Planning’, ’12 Steps to Keep the Family Farming’, ‘Top 10 farm Succession Planning Roadblocks’, ‘Succession Planning for the Family Farm’, and ‘Returning to the Family Farm’.