The financial implications of a family agribusiness transition

In working with family agribusinesses that are in the process of transitioning from one generation to the next, I’m always pleased to come across current owners who have established financial security for themselves outside the business.

Letting go is a difficult task at the best of times; the process is made far more stressful if the retiring leader is financially dependent on the business. Unfortunately, when planning ownership transition and succession, many family businesses focus only on minimising transfer duties. What is frequently forgotten or poorly planned is the financial security of the