The farm succession plan covers more than one generation and must take into account those working on the farm and those off-farm but still with a financial interest in the business. The preparation of a succession plan can appear to be a time-consuming and complex process. Too often farming families become overawed by the many aspects to be dealt with and the often competing advice received from accountants, solicitors, financial advisers and other professionals. When faced with this dilemma it is worthwhile to treat the development and implementation of the plan as a working project. A project which should include all stakeholders and integrate the various components.
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