We are firmly of the view that succession planning is a process that should occur over time with the farm business, and is not just an isolated event.
Our approach to succession planning involves:
- Listing the various assets held within the family;
- Developing profiles of the various members within the family;
- Consultation with each individual family member, identifying their aims and aspirations; Consultation with the family as a whole;
- Documenting the outcomes of any succession plan.
We believe that a successful succession plan should involve:
- Increased respect for each individual within the family;
- Promotion of and respect for the culture of the family;
- Creation of opportunities for all members within the family;
- Provision for the smooth transfer of management from one generation to the next; Provision for the smooth transfer of assets from one generation to the next; Provision of security and dignity for the older members of the family.