Agribusiness Succession
Nextgen.Law | Agribusiness & Farm Succession Planning
Agribusiness succession planning helps to ensure that farms run smoothly even when you retire, lose capacity, or pass away.
Agribusiness succession must be very carefully planned so that all parties involved know the direction of the farm moving forward. Often, families and business partners leave farming because of a lack of agribusiness succession planning which causes disputes between partners. To avoid these kinds of disputes, it is paramount that an agribusiness succession plan is put in place. This involves planning what happens to the various asset categories, who will continue running the farm, as well as how family members who may not work on the farm may be involved.
For example, one child may not work on the farm, but mum and dad may wish for that child to have some proceeds of the farm when they pass away, while another child may continue running the farm and receive the assets needed for this.
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Agribusiness & Farm Succession Planning
Regional, Rural & Remote Queensland
Our team has experience in agribusiness and farm succession planning across regional, rural and remote Queensland. Nextgen.Law is the succession planning team you should speak with first.