Succession planning for your farm business – Dirranbandi

Presenters: Michael Cowley and Nicola Reid – Fox and Thomas Business Lawyers (St George-Goondiwindi)

The workshop will cover the following topics:

• Identifying each family member’s needs and goals as well as those of the business
• Importance of communication – managing difficult conversations and conflict is not always bad
• What is the current financial position of the business – out of chaos comes opportunities
• Creating the succession plan
• What contingencies do you have or need in place to deal with the unexpected, e.g. death, divorce, new members
• Important considerations – asset transfer, wills, taxation, insurance, superannuation, providing for non-farm family members, education and skill development
• Ongoing action – acquisition of assets, finance and security, family meetings, role of advisors

The workshop will also run through a few different scenarios so you can see some of the issues you may face and how to make succession work for everyone.

Bring as many family members as you can!

Morning tea and lunch supplied.

Register here