At ORG, we aim to:
- Ensure business continuity by facilitating a smooth transition of ownership while minimising disruptions to operations.
- Provide financial security for retiring family members, while ensuring successors have the necessary resources to sustain the business.
- Prevent family conflict by clearly defining roles, responsibilities, and entitlements to properly align all family members and stakeholders.
- Protect your valuable assets against legal disputes, financial risks, or inefficient asset distribution.
- Future-proof your farm by addressing challenges like market shifts and land availability to support long-term growth.
- Guarantee total discretion among your local community, as well as provide a level of expertise from a city firm.
- Make it as easy as possible to sort out your legal matters even if you live remotely, through easy video conferencing or travelling to your location.
What does rural succession planning involve?
If you own or manage a farm, an agricultural business, or another type of rural enterprise, there are many elements to consider when implementing a succession plan. Depending on the enterprise, rural succession planning involves preparing for the transition of ownership, new management, and making sure the operations are kept as functional as possible for the next generations.
Without a proper succession plan, rural families risk unnecessary conflict, financial instability, and the potential loss of their hard-earned assets.
We’ll help you plan for succession by:
- Identifying the best successors and properly defining their roles.
- Managing the transfer of ownership and control (including legal and tax considerations).
- Protecting family relationships and minimising disputes by setting clear expectations (this includes having meetings with all family members to ensure everyone is on the same page)
- Mitigating debt risks or economic fluctuations.
- Guaranteeing a sustainable future for the farm or business.
- Helping plan for the current generation to retire or gradually step back from daily operations.
- Establishing trusts, wills, or business structures to protect your assets.
The benefits of rural & agricultural succession planning
Taking the time to partner with us to make sure you have a well-prepared succession plan provides you with total peace of mind and financial security when it comes to the continuity of your rural enterprise.
Working with us means working with a team that actually understands the realities of rural life and family planning. Many of our solicitors have personal ties to farming and agricultural communities, so we know how important it is to preserve your legacy in these types of circumstances.
What do you get from a properly considered succession plan?
- Preserve family assets by ensuring farms, land, and rural businesses are passed down without fragmentation.
- Reduce family conflicts by clearly defining roles and expectations, preventing misunderstandings and disputes.
- Maintain business continuity by minimising disruptions during ownership or leadership transitions.
- Maximise tax efficiency by structuring asset transfers to reduce capital gains tax, inheritance tax, and other financial burdens.
- Provide retirement security with structured income plans that support outgoing family members.
- Support community stability by ensuring rural businesses remain viable and continue contributing to your local economy.
- Promote long-term sustainability by integrating strategies for innovation, technology adoption, and environmental stewardship.
The process of rural succession planning
Initial consultation & information gathering
We’ll discuss your goals, challenges, and family circumstances during a consultation either in our office or out at your property. We’ll gather details about your business structure, finances, and family dynamics to identify key priorities and risks.
Developing your succession & farm business plan
From there, our team will work with you to create a tailored succession and farming business plan to address your own circumstances and financial considerations. We’ll ensure all legal, financial, and personal considerations are covered and accounted for.
What does this include?Reviewing, adjusting, & implementing
Once finished, we’ll work closely with you to refine your plan and ensure it aligns with your overall personal and financial goals. Afterwards, we will draft all the legal documentation to evidence your intentions to put the succession plan into action.
Why Choose ORG?
ORG understands the complexities of planning for rural families
In short, it’s in our DNA. Like many rural families, Christopher O’Connor’s great-grandparents were immigrants who settled in far north Queensland, establishing a family farm that’s now controlled by the third generation and continues to thrive.
We understand the pressures of rural life and because of our own experiences, we are motivated to make sure the legacy of rural families can endure. By implementing a firm plan, you can ensure that your farming enterprise is not destroyed because of poor or no succession planning.
Our firm also has extensive experience in estate litigation. We have seen a sharp rise in estate disputes involving rural and family businesses because of no or poor estate plans, and many of these disputes could have been avoided if the deceased had obtained the right advice from a lawyer who exclusively practiced in this area.
Too often, we see people going to their local or commercial lawyer for their succession plans. However, these lawyers typically don’t have the expertise to deal with issues that ensure your rural enterprise will endure. Specialist advice in this area is highly recommended.
Connection to
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Frequently asked questions
Taking the time to partner with us to make sure you have a well-prepared succession plan provides you with total peace of mind and financial security when it comes to the continuity of your rural enterprise.
Working with us means working with a team that actually understands the realities of rural life and family planning. Many of our solicitors have personal ties to farming and agricultural communities, so we know how important it is to preserve your legacy in these types of circumstances.
When it comes to properly planning for your future, the sooner is always better. Succession planning is not just about what happens after retirement or when someone passes – it’s about making sure your business remains stable and successful throughout its entire life cycle, especially if hit with sudden health issues or other factors before you have a proper out-of-door plan in place to prevent legal disputes.
A succession plan ensures that all the family members and stakeholders have a clear understanding of what’s happening with the family business. It gives clear definitions of everyone’s roles to all active family members and can also ensure that family members’ spouses are part of the plan. It also gives the younger family members a clear pathway to a managerial or leadership position.
The total timeframe depends on the complexity of your rural business or your family circumstances, but the process typically takes at least a few months to be properly set out and put into place.
Without a plan, your business could face disruptions, legal challenges, or nasty disputes that can lead to stress and the potential for serious financial loss, and in some cases, the dismantling of the business.
Not at all – we offer flexible options for clients of every type, which include travelling to your rural location or meeting via video call to make the process convenient for you. We have a strong connection to rural communities, and prioritise the best possible solution for you to reach your absolute best outcome.
Don’t wait until it’s too late:
Secure your future with a no-cost, no-obligation consultation
Succession planning is crucial for protecting the legacy of your farm or agricultural business, and without a clear plan, your family’s hard work and assets could be put at serious risk. We provide expert legal guidance that’s tailored to help you navigate this important part of your future planning with ease.
Whether you’re looking to transition ownership to the next generation or prepare for the unexpected, our team understands your needs, and we are happy to travel to your location or meet via video call to ensure you get the support you need. Set up a free, no-obligation meeting to get started on your rural succession planning today.
