Family Succession Planning for Rural Clients

Six months before holding a formal family meeting, our clients shared their preliminary goals with Murray Nankivell to support a smooth succession planning process. With clear direction from their accountant, they felt confident about the outcome of their first succession planning session.

The family faced the challenge of planning for a smooth and transparent transition of their farm assets while ensuring that each family member's concerns and perspectives were heard. The initial meeting in Melbourne allowed the family to identify key concerns, but they needed professional guidance to structure an effective succession plan. With various family members involved, a primary concern was creating a positive and unbiased environment that would facilitate open discussion and maintain family harmony. Mark Edwards, their Murray Nankivell accountant, was tasked with guiding the family through this sensitive process, organizing an agenda that allowed time for reflection and thoughtful consideration before the formal meeting. This planning was essential for establishing a respectful and comfortable setting where all family members could feel heard without fear of judgment.

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