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  Primary production Estate planning Succession

Succession planning in primary production

Source: TAS

Published Date: 18 Oct 2012

 

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Succession in a family farming business is a complex juggling of the needs and wants of the “retiring” generation, the new farmer(s) and their partners and often siblings of the new farmers who will not be farming in the future.

This paper includes a case study and the author’s experience of:

  • a framework for a successful succession process
  • the importance of defining succession versus estate planning
  • why people matter most and the importance of developing family culture and philosophy early
  • importance of timeframe
  • balancing flexibility and fairness
  • importance of agreements and education on the future implications of any agreed outcomes.
Author(s)

Individual Session

Succession planning in primary production

Author(s): Andrew Beattie
Materials from this session:

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Details

  • Published By: Andrew Beattie
  • Published On:18 Oct 2012
  • Took place at:Cradle Mountain Chateau, Cradle Mountain

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Primary production Estate planning Succession 2012

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