Succession Planning Considerations
Farming families are no strangers to hard work. But when it comes to handing over the reins, succession planning is one of the toughest jobs of all. Emotions run high, timing is tricky, and it can feel like opening a can of worms no one asked for. Still, not planning is the biggest risk of all.
At Frontgate, we specialise in helping families work through succession in a practical, honest and future-focused way because we know that good planning protects both your business and your relationships.
Why Succession Planning Gets Delayed
Many families put off succession talks because they feel awkward, uncertain, or assume there’s more time. But time doesn’t solve succession. In fact, delaying usually creates more stress, conflict and tax complications down the track.
Common reasons for delay:
Fear of upsetting the family dynamic
Avoiding tough conversations about fairness and roles
Not knowing where to begin
Assuming it’ll “sort itself out” later
The cost of doing nothing? Disputes, inefficient tax outcomes, stalled business growth, and fractured family relationships.
How to Start the Conversation Early
The best time to start succession planning is before you need it. That way, everyone has time to talk, think and make decisions without pressure.
Here’s how to begin:
Hold a family meeting with a neutral facilitator
Agree on shared goals and values
Give each family member space to speak openly
Remember: succession is a process, not a one-off meeting.
What Good Succession Planning Includes
Effective succession isn’t just about transferring land or assets. It should consider:
Ownership structures (trusts, companies, partnerships)
Tax consequences for all parties
Superannuation, estate planning, and wills
Retirement income for the older generation
Fairness and transparency—not just legal equality
At Frontgate, we align your legal, financial and family needs into a workable plan.
Tools That Make the Process Smoother
We use a structured and supportive approach:
Family meetings with clear agendas
Business valuations and forecasts
Succession committees for complex operations
Transition timelines and staged handovers
Next-gen education on business management
It’s not just about today, it’s about your legacy.
Let’s Help You Get Started
If succession is on your mind, don’t wait until it becomes urgent. We offer calm, independent and experienced guidance for families looking to do this well.
Let’s help your family talk it through and get a plan in place.
Disclaimer: This content provides general information only, current at the time of production. Any advice in it has been prepared without taking into account your personal circumstances. You should seek professional advice before acting on any material.
