Updated September 2024 – 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
• Taxes
• Collaborative Farming
• Availing of a Pension on Retirement
• Education