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‘We need to talk’: Key questions to kick-start the farm succession conversation

NFU Mutual has outlined some key questions to help kick-start that conversation around succession.

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‘We need to talk’: Key questions to kick-start the succession conversation

1 – What is the longer term direction of the farming business?

 

2 – What role will each family member play both now and in the future?

 

3 – What development, skills or experience do the younger generation need to acquire?

 

4 – How are the assets going to be owned in the short, medium and long-term?

 

5 – What provision will be made for those who are not involved in the business?

 

6 – What level of income does each family member want or need from the business?

 

7 – Where will each family member live?

 

Source: NFU Mutual


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