Most farming families have a succession plan. The problem is it often lives in one person's head.

In this episode, Cameron Howlett - CEO and Independent Financial Adviser sits down with Shane Nicholas - Independent Financial Adviser and Partner at IWP. He talks through what it takes to hand over the family farm. He covers why fair rarely means equal, and why splitting the farm down the middle can leave it too small to run. He explains how control can pass to the farming child before the land does. He looks at how tax concessions shape the timetable. He also covers the step most plans miss: Mum and Dad need to fund their retirement off the farm.

Cameron also covers the conversations families tend to put off. These include protecting land if a relationship breaks down, keeping wills up to date as titles move, and the High Court's 2024 decision in Kramer v Stone on promises made to children who work the farm.

If the next generation is home, or thinking about coming home this one is for you.

Read the full article here: https://www.independentwealthpartners.com.au/insights/succession-planning-for-farmers/

(Independent Wealth Partners Pty Ltd (ASIC # 1286417 ABN 66 647 667 249) is an independent professional financial advice practice which operates under the Australian Financial Services Licence (Independent Wealth Services AFSL # 512433).

This document is general advice only and it does not take into account any person's individual objectives, financial situation or needs.

IMPORTANT: The projections or other information generated regarding the likelihood of various investment outcomes are hypothetical in nature, do not reflect actual investment results, and are not guarantees of future results.