Farm succession planning: A small price to pay for a valuable asset

Category Archives: Succession Planning

Farm succession planning: A small price to pay for a valuable asset

Farm Succession Planning

Cognitive dissonance is the uncomfortable feeling we get when we hold two conflicting thoughts at the same time.  An example is knowing you should do something but avoid it.  One way to make this feeling go away is to apply mental gymnastics in order to justify a making the bad decision.  We all do it, […] Read More >

Also posted in Estate Planning | Tagged | Leave a comment

Planning for Prosperity presents succession planning to EP farmers

Succession Planning for Farming Families

Last week we spent the week on the Eyre Peninsula, presenting to farmers on the topic of Succession Planning at the EPIC Grain Industry Expo. EPIC Grain Industry Expo We began in Ceduna on the Monday and moved to a new district each day, stopping off in Warramboo, Kimba and finishing up in Cummins.  The expo featured […] Read More >

Posted in Succession Planning | Tagged | Leave a comment

Farm Succession Planning – Exiting and Transitioning

Farm Succession Planning

No doubt you would’ve heard the saying ‘if you fail to plan then you plan to fail.’ From our experience this is a true statement and applies to so many areas of our life. This topic on succession planning is really about one generation exiting a business and the next generation taking over. Each family […] Read More >

Also posted in Estate Planning | Tagged | Leave a comment

The ABCs of Basic Estate Planning

Farm Succession Planning

It’s quite common for people to spend a lot of time focused on building their wealth but  give little thought to what happens to it all after they die.  Many laugh it off, saying “I don’t have much” or “the kids can have my debts”.  I can assure you it is no laughing matter for […] Read More >

Also posted in Estate Planning | Tagged | Leave a comment

You Don’t Know what you Don’t Know

Self Managed Superannuation

There’s a simple saying I often use: “You don’t know what you don’t know”.  In a roundabout way what this phrase is saying is that making important decisions without getting all the facts can have very long lasting consequences.  There are lots of examples where this rings true.  I can think of my own situation […] Read More >

Also posted in Financial Advice, Strategic Planning | Tagged | Leave a comment

4 Crucial Steps in Farm Succession Planning

Farm Succession Planning

Farming family members that work together may get along quite well, but often the important issues of ‘who gets what’ down the track can be grey and are never discussed in any detail. In many cases the parents have something in mind, while their successors might be assuming something different.  It all comes down to […] Read More >

Posted in Succession Planning | Tagged , , | Leave a comment