SUCCESSION PLANNING:
Succession planning is the considered transfer of management, responsibility, ownership, assets and control of a farm enterprise over time.
It is far more than a business transaction; it can be an emotive and challenging time for all involved. However, if approached in a considered and well thought out manner, succession planning can also be very rewarding for all involved.
Succession planning involves determining the expectations of each generation and each family member. It requires the building and maintaining, and possibly the repairing of, family member relationships.
The succession planning process involves discussions and agreements by family members. A succession plan formalises those agreements and actions so they can be implemented and reviewed over time.
For more information about succession planning assistance review the below information or contact your local Rural Financial Counsellor
Regional Office Contact Details
RFCS-CW Regional Office
ABN: 54 606 039 416
First Floor, Suite 1, 62
Wingewarra St,
DUBBO NSW 2830
Telephone: 02 6884 7841
Fax: 02 6884 4926
Email: dubbo@rfcs-cw.com.au
