Radio Transcript

Welcome to Agritalk

This week we will be talking about Succession Planning for families & farms.

Statistics show that in general farmers are not so good at communicating their thoughts on succession

42% had had no discussion with spouse
63% had had no discussion with sons/daughters
84% had had no discussion with daughter/son-in-laws

No one plans to fail, but failing to plan is something that often derails the farm succession process.

Judy Wilkinson, a Community Support Consultant with Rural Solutions SA says "When a succession plan is triggered by a situation change - death, debt, drought, divorce, daughter-in-law, diversification, down-sizing - it is often more emotional than if the planning is proactive,"

Succession Planning is definitely something that we all should think about.  Being proactive and planning helps to ensure the future of your family and your farm.
 
A new publication offers help for families trying to manage succession.

A guide to succession: sustaining families and farms
is in three sections
guiding principles, case studies, and tips and checklists.

The aim of the guide is to stimulate conversation and help guide the succession planning process.

It includes advice from a variety of professionals from lawyers & accountants to agricultural and generation consultants.

As well as 16 case studies which cover a wide variety of farming situations.

The guide is compiled and written by Judy Wilkinson & Lyn Sykes,  and was funded by the GRDC,  it is free of charge,  but there is a fee for postage and handling.  For more information go to

The guide is also available via Rural Solutions SA

For further information on this story or any edition of Agritalk, please visit www.ruralsolutions.sa.gov.au, click on news, then radio.  You will find a transcript of the program along with lots of handy links to the things discussed.

Information kindly supplied by Judy Wilkinson