Estate planning in a primary producing context can be incredibly difficult from families to navigate.

 

Rural succession plans must be specially tailored to the circumstances of each family’s needs and must streamline with the overall business plan.

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It is common for inter-generational conflicts to arise from farming or rural estates, and great care must be taken to prioritise: 

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• The management of assets in a way that does not jeopardize the financial needs of the parents; 
   

• Enabling future generations to continue the family business on the property; 
   

• Taking early considerations to ensure financial stability and creating business opportunities for future generations on the farm; and
   

• Creating structures that can minimise the taxation effects and stamp duty on an ongoing basis as well as on an inter-generational basis. 
   

If you require assistance with your estate plan, please contact us.