Join our Succession Planning Day designed for dairy farmers where guest speakers Colin Wright from Phillipsons and Matt Harms from ONFARM Consulting will discuss:
• Tips and tricks to succession planning
• Business structures
• Tax implications
• Role changes
• Transferring assets.
Matt owns and operates ONFARM Consulting, and has been in private agricultural consulting for 15 years. Matt lives in South Gippsland where he and his wife Donna run a small beef farming operation. Matt has a passion for farm business performance and management, and works closely with farmers on many aspects of dairy farm performance and succession planning.
A Phillipsons Principal and the Agri Team Leader, Colin has always had a passion for farming. Born on the land, he completed a Bachelor of Business at Swinburne University before commencing his accounting career. With four decades of experience, Colin’s area of expertise includes succession planning, and he specialises in rural accounting and management.
Joining the event will be Alan Campbell, who – with his wife Catherine – operates an 1,100-cow dairy at Branxholme.
They are currently in the middle of a farm succession/estate management plan using a facilitator. Their son Adam is farm manager, which has allowed Alan to step back a little from the physical day to day work. They have two daughters, who have established careers off farm. Alan, and his daughter Sarah will share their perspectives on the day.
Also hear from the Place family, who run a multi-generational family farm milking 550 autumn cows in Pomborneit. The Places have recently worked through the succession planning process, with Terry and Jo transitioning the business to their son Grant and daughter in-law Majella.
After working as a builder for several years, Grant returned home to manage the farm, before taking this next step into business ownership. He and Majella were keen to raise their own family in the country and now have three children of their own.
As with any succession plan, nothing is ever straight forward. With a business worth millions of dollars and three off-farm children to consider, there was plenty to work through.
With the help of their field service officer, accountant and other professionals, the plan was drawn up. Now all family members know what is happening and everything is appropriately documented.
Terry and Grant will discuss how they worked through the succession process and the benefits to all parties of having completed their succession plan.
This succession planning day will be on Thursday 11 April in Cobden. Registrations are essential. To make sure you don’t miss out register now.
