Farm Table says:
Developed by Bundaberg Fruit and Vegetable Growers contains the following:
Farm Succession Planning
- Why is succession planning so important?
- Benefits of a plan
- What is succession planning?
- The barriers to starting a succession plan
- Too many children for too few assets?
- Putting it off?
- Treating family members fairly and equitably
Steps to developing a succession plan
- Do’s and Don’ts of Succession Planning
- Step 1: What are family members’ goals and aspirations?
- Step 2: Family conferences
- Step 3: Seek professional advice
- Step 4: Implement the plan
- Step 5: Ongoing revision and discussion
Inheritance – Passing on the farm
- Equity and fairness
- How might the family assist those not involved physically and/or financially in the
- Planning for retirement from farming
- Maintaining an income only interest in the farm
- Pension and related benefits
- Wills and power of attorney as part of the succession planning