This module explores specific succession planning considerations for farming clients.
Description
Succession planning is an important component of strategic planning for any enterprise, including those in primary production. For farmers, there are some additional factors to consider, such as unique tax implications and family dynamics.
In this module, you will learn about specific succession planning considerations for farming clients, the stages of succession, and common principles that accountants should employ when working with a farming client on a succession plan.
You will also analyse how to resolve issues that arise among family members and which strategies work best in different circumstances.
This module will guide you to help farming clients achieve the best succession outcome and provide a smooth transition for the next generation of family members or new owners.
Key topics
- Succession planning considerations in farming
- Stages of succession
- Nuances of succession planning for farming clients
This course consists of one interactive online course, one downloadable PDF learning manual and one online assessment.
This module is one of a series within the Service Offering component of the My Firm. My Future. Framework. It is designed to complement other learning modules in the My Firm. My Future. suite.
Learning objectives
- Identify specific succession planning considerations for farming clients
- Explain the stages of succession planning for farming clients
- Analyse the succession planning opportunities for farming clients
