With approximately 70% of farms having multiple family members and generations involved in the day-to-day running and decision making of the business, succession planning is an essential component.
Navigating the multitude of taxation rules and combining this with the less tangible, more emotional discussions around what happens when… requires expert advice, sensitivity and discretion.
Understanding individual circumstances and that of other partners in matters such as, dissolving partnerships, retiring or inheritance and capital gains tax planning, is a necessity for all farmers with family member involvement. Bletsoes are also experts in tenancy succession matters, ensuring holdings are retained by tenant farmer families.
With proper planning, the business can move to the next generation with ease and without emotional upheaval.
“When the time came to consider how we moved our farming business on to the next generation, Bletsoes advised and guided us regarding the appropriate steps to take. Nicola has capably dealt with the transfer of two AHA agricultural tenancies to our son, which has helped to secure the future of our family business. ”