@Abi Hi guys. I am farming sheep and cattle with my parents. We have been self-navigating the succession topic/issue for many years with mixed results! I have a young family and have been thinking about the future lately. Never an easy topic to bring up. I always find myself getting emotional and feeling uneasy. Communication is definitely key. Have raised the idea of succession advisors a number of times but find resistance. Probably because my parents are quite private people, and have advisors in the form of our lawyers and accountant. Will have to read some of the info you guys have recommended.

@batley.o - I have also come across this book. Very easy to read and In some situations, with clients looking at succession and ownership structures I have given them a copy. I order a few through whitcoulls a few years back, not sure if this is still possible - worth a read by all young family couples.

@batley.o - I have also

Is there anyone willing to share their story of Succession? Good/Bad or indifferent!

"Keeping Farming in the Family" is an authoritative book as a guide to farm succession written by Rural practice lawyer Ian Ross Blackman. 180 pages of easy reading with anecdotes. Available to purchase from the author.

@Sean.Bennett thanks so much for that Sean, very interesting stuff

Here is an article from earlier on in the year about alternate options for those looking to exit their farming business along with a yarn with Jamie on The Farming Show.

Sean Bennett talks succession on the Farming Show

Just came across Mark Stevenson's Kellogg report on succession. Definitely worth a read http://www.kellogg.org.nz/uploads/media/Mark_Stevenson_-Succession_-_FINAL_REPORT1.pdf

Succession requires a good team around the farmer, each looking after the various parts and that team can vary from case to case. In some cases we act as the facilitator and farm accountant but in other cases we realise an independent facilitator is necessary. Paying off a farm is a generational exercise so it pays to start your plan early. Talk with the whole family early on, to ensure the sense of entitlement is clear and adjusted if necessary. We wrote an article recently on this topic here

@batley.o Thank you LisaM

@Abi I've worked through some succession personally and in a professional capacity. The key to making it all work and having a successful outcome is communication. Clear communication with all members of the family getting to have their say and working through what's important for the family. You cannot rush things, there is no one plan that will suit all families. Be brave and start the conversation with family.
Successful succession requires a long-term viable farm business which is an industry issue.

@Springvaledowns We do a lot of succession work for both clients and non-clients. Our whole approach is to get an outcome where when the time comes and mum and dad are looking down from the pearly gates that they see the family sitting down around the table enjoying xmas dinner together. At the end of the day it is all about people !!

@Mel-Sheppard We are enjoying working with you on this Mel. Succession is the elephant in the room for the red meat sector. The more we can align industry resources the better

Succession problems tend to sneak up on you so the sooner the conversation is started the better. Include all your team of advisors and family and work through the plan step-by-step. Remember to revisit the plan yearly to revise and tweak regularly as often changes happen as the years go by. Mostly communicate, communicate, communicate.

I have found the farm accountant very helpful and knowledgeable.

@Mel-Sheppard Sounds very useful - could you please post links to the resources when they become available? thanks in advance. Cheers Owen

Rabobank have a Farm Ownership Options seminar in Dannevirke on 20th Sept (11am - 2pm). This is part of the RMPP project, looks very interesting and is open to anyone. RSVP or enquiries to Nicolette.Holdem@rabobank.com

@Mel-Sheppard sounds useful - would you mind posting links to the resources when they become available? thanks in advance

RMPP is developing resources on pathways into farm business ownership (for new entrants) and options on how to exit day to day management of the farm whilst keeping your family, asset and income safe and secure. Resources include case studies, template Agreements and workshops to support farmers explore their options and take the next steps.