Two recent AFR articles should be a wake-up call for farming families
Over the past month, two articles have appeared in the Australian Financial Review that I think every farming family should pay attention to. And they are very concerning.
The first, published in July, carried the headline “T...
You know what your farm is worth. But do you know how succession ready your family is?
Farming families measure almost everything. Rainfall, yield, weight gain, fertiliser, fuel, machinery costs, finance ratios, interest rates, land values, debt and equity. We measure because numbers give us infor...
If you've been wondering where to begin, this is your first step.
One of the most common questions I hear from Australian farming families is, "Where do we start farm succession planning?" After more than 25 years working alongside family farming businesses, I've learnt that the biggest obstacle i...
What Every Farming Family Needs to Know About Australia's New Tax Reforms
Imagine receiving a substantial capital gains tax bill after the death of a parent—even though the family farm has never been sold.
It sounds difficult to believe.
However, leading tax bodies, including CPA Australia and...
After more than 35 years helping Australian farming families with family farm succession planning, I've noticed one phrase comes up time and time again.
"We didn't know."
Every family has been different. Different businesses. Different generations. Different goals for the future. Yet despite tho...
Why Farm Succession Planning Starts with Leadership
At Future Farming Families, we often say we have a different approach to farm succession planning.
People often ask what we mean by that.
After more than twenty years working alongside farming families, we've learnt that successful farm succ...
The hidden value sitting on many farming family balance sheets
Last week I sat around the kitchen table with another farming family, working through what had started as a fairly typical farm succession planning discussion.
Like many families, they had been thinking about the future for years. Th...
Farm succession planning has never been more important.
Every few years there is a tax announcement that captures everyone's attention. Then, just as quickly, the conversation moves on.
But sometimes it isn't the announcement itself that matters most. It's the direction it points.
This week, repo...
"Chris, what's the secret to successful farm succession?"
It's a question I've been asked countless times over the past 20 years.
Usually, people are expecting a technical answer. They think I'll start talking about trusts, companies, tax concessions, legal agreements or the latest succession s...
A Positive Step Forward for Farm Succession Planning
For many farming families, succession planning is not just about transferring assets. It is about preserving a legacy, protecting family relationships, and creating opportunities for future generations.
The Federal Government has announced a s...
Every farming family will face farm succession at some point.
The question is not if farm succession will happen. The question is how your family will experience it.
Will it be a time to celebrate? Or a time to fight?
For many farming families, farm succession should be one of life's greates...
Farm Succession Planning: What's at Stake If You Get It Right?
Farm succession planning is one of the most important decisions a farming family will make.
Done well, it can preserve family relationships, protect wealth and create opportunities for future generations. Done poorly, it can lead to ...
