A Guide to Transferring the Family Farm
UPDATED IN OCTOBER 2022 - The purpose of this publication is to help farm families familiarise themselves with some of the complex issues that can arise while developing a farm succession plan.
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It is essential for every farmer to have a farm succession plan in place. There are complex legal and taxation rules that, if planned for, can be managed easily. If not planned for, however, there could be a major impact on the viability of the farm business.
This publication looks at seven specific issues that require discussion when a succession plan is being put in place.
- The Farm Business
- The Farm Family
- Legal Issues
- Collaborative Farming
- Availing of a Pension on Retirement