@Deanne plural, I have two brothers and a sister. one in the states comes over yearly when possible, one in Nepal due home this year and one lives on farm doing casual! Yes have raised the idea of rural coach/facilitator etc. (actually think they are getting sick of me harping on about it!) they are private people and can't see them 'admitting they need help' as that's the way I think they see it. might try again once the dust settles!

Had a busy festive season. My non farming brother and his partner came home from the states for a visit. Inevitably the farm succession plans came up in conversation (with me not mum and dad). We looked through the annual accounts, trying to give him some understanding of the daily running of the farm and the financials... I would have preferred that he approach mum and dad for that information but for what ever reason he felt I was a better option. I am not sure that he left any more the wiser but I think it is important that he is interested and I try and keep him in the loop as much as possible.
A few weeks later had an emotional talk with the olds re clarification of their plans going forward. A very difficult thing to talk about and not sure how much was achieved but nothing ventured nothing gained. Anyway talked to the accountant and explained my perspective and worries/wishes re succession planning and a need for clarity and open communication between all parties. I reiterated the emotional tension that simmered away any time the topic was raised and the need for more structured meetings to allow better communication and articulation of everyones feelings/needs/aspirations/goals etc etc. I told him that I thought we needed more input and guidence from both our accountant and lawyer. I put the phone down feeling more positive and awaiting an email from him detailing his thoughts on the matter and suggesting a plan going forward.

@Abi Yes, exactly. Am working on formalizing our meetings a bit more, getting an agenda set out so that prior to the meeting everyone can think about the topics that are going to be discussed and formulate an opinion etc. The hardest thing I find is finding the time/prioritizing succession talk over day to day farm work (especially at this time of year!). Have printed out and read the articles that @batley-o and @LisaL shared. Might pop them under Mum and Dad's door! Will keep you posted with any developments!!

@Abi @Sean-Bennett meet with the accountant last week to discuss last financial year. Succession was also discussed. Funny how parents react differently to the same ideas bought up by the accountant vs their son! It was constructive tho and hopefully will get the ball rolling and continue the discussions we have already had... next job get the lawyer and bank manager involved!

Hi guys, maybe a simple question but, when entering a budget item in the cashflow section when would you use the 'Quantity entry' box and the Variable box?
ie if I was purchasing vacines for 1000 ewes and bought 10 boxes of vaccine containing 100ml of vaccine each administering a 1 ml dose to each ewe?
How would i break it down and which piece of info would go in which box?
Cheers

@Deanne plural, I have two brothers and a sister. one in the states comes over yearly when possible, one in Nepal due home this year and one lives on farm doing casual! Yes have raised the idea of rural coach/facilitator etc. (actually think they are getting sick of me harping on about it!) they are private people and can't see them 'admitting they need help' as that's the way I think they see it. might try again once the dust settles!

Had a busy festive season. My non farming brother and his partner came home from the states for a visit. Inevitably the farm succession plans came up in conversation (with me not mum and dad). We looked through the annual accounts, trying to give him some understanding of the daily running of the farm and the financials... I would have preferred that he approach mum and dad for that information but for what ever reason he felt I was a better option. I am not sure that he left any more the wiser but I think it is important that he is interested and I try and keep him in the loop as much as possible.
A few weeks later had an emotional talk with the olds re clarification of their plans going forward. A very difficult thing to talk about and not sure how much was achieved but nothing ventured nothing gained. Anyway talked to the accountant and explained my perspective and worries/wishes re succession planning and a need for clarity and open communication between all parties. I reiterated the emotional tension that simmered away any time the topic was raised and the need for more structured meetings to allow better communication and articulation of everyones feelings/needs/aspirations/goals etc etc. I told him that I thought we needed more input and guidence from both our accountant and lawyer. I put the phone down feeling more positive and awaiting an email from him detailing his thoughts on the matter and suggesting a plan going forward.

@Abi @Sean-Bennett meet with the accountant last week to discuss last financial year. Succession was also discussed. Funny how parents react differently to the same ideas bought up by the accountant vs their son! It was constructive tho and hopefully will get the ball rolling and continue the discussions we have already had... next job get the lawyer and bank manager involved!

@becgreaves

@Abi Yes, exactly. Am working on formalizing our meetings a bit more, getting an agenda set out so that prior to the meeting everyone can think about the topics that are going to be discussed and formulate an opinion etc. The hardest thing I find is finding the time/prioritizing succession talk over day to day farm work (especially at this time of year!). Have printed out and read the articles that @batley-o and @LisaL shared. Might pop them under Mum and Dad's door! Will keep you posted with any developments!!

@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.