Is it time to pass your farm business to the next generation?
Farming is set to change beyond all recognition; the challenges going forward are huge. It will be a world of hi-tech, precision farming technology, a capital-intensive system of growing food sustainably…..and then there is climate change. The younger generation are eager to step up to that challenge, they have the vision and the knowledge required to embrace the changes…..do you?
Did you know that there are more on-farm accidents resulting in injury or death in those aged 60+?
Many questions arise when you start to plan the process of passing your business on. Does your son or daughter want to take the farm on? How can you make it fair? What happens if you don’t have a successor? What options are available? Do you have a Will? What is a Power of Attorney? Why do you need one? What are the tax implications? Should you set up a Trust? Where will you live? What are you going to do to keep your mind and body active when you hand over the reins?
Our seminars aim to help you start to make those decisions and equip you with the knowledge to implement them. However, we would like you to bring the family with you….it is much easier to approach this often prickly subject if you are all there listening to the same advice. Our speakers are all experienced in dealing with the farming family dynamic. You may find discussing this subject difficult, so we will be using our own technology to enable all to engage without having to necessarily raise your hand and ask a question directly.
So don’t bury your head in the sand, brush the issue off or put it back in the proverbial envelope under the pile of papers on the end of the kitchen table. Act NOW and book your place.
This seminar will cover:
• Investment & financial planning for retirement & succession
• What can happen when there is a failure of succession planning?
• What steps can be taken to properly plan for succession – a look at partnership agreements, wills, powers of attorney, and pre-nups.
• What next? An active retirement
• A healthy retirement
• Housing options
• Using mediators and facilitators
• Member case studies
We will hear from:
• Christine Malseed – Accredited Facilitator
• Dr Matt Lobley, Co-Director Centre for Rural Policy Research Exeter University
• Leigh Cecil, Smith & Williamson
• Penelope Lang, Smith & Willamson
• Edward Venmore, Foot Anstey
• Strutt & Parker
• Addington Fund
• CLA Taxation Adviser