Many of New Zealand’s iconic farming properties have been split up and or auctioned off because farm owners have failed to plan for the future. Succession planning is something you know you need to think about but often put off. This is understandable as getting the right advice can be expensive and the decision about what is the best way forward is often confusing.
Beyond the financial aspects there are often emotional and family considerations to work through.
- Should we sell the farm?
- Are we able to sell a stake in the property rather than all of it?
- It’s hard to get ahead at the moment. How can we reduce our debt to improve our cashflow?
- If we keep a part ownership of the farm business how do we ensure performance for the future?
- One of our children would like to run the farm but our other children don’t.
- How do we provide a legacy and ensure that all of our children are treated fairly
- What will we do with our time and money?
When it comes to selling their farms, owners have a lot to think through. We work alongside farm owners to help develop a way forward that provides for your family’s needs now and into the future.
We partner with leading independent professional experts including your own financial advisor who can offer you the right advice and we are able to tailor solutions for you in response to that advice that includes full or partial exit, single or multiple family member ownership structures, debt reduction and forward management plans.
We view succession planning and ownership transition as an exciting time, an opportunity for farm owners and their families to map out a new direction and provide a legacy for the future.