Farm Succession Planning
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  Running Time: 6:55 Date: 01/11/2012 Succession planning for your farming client? Education is the key. This month, we consider those accounting practices with clients who work on the land. For farmers, having a strong farm succession plan in place is essential to creating a certain future for themselves and their families. But, according to Grant Bloxham, CEO of succession planning experts the Bstar Group, very few farming clients proactively address their succession. This is where the role of accountants and financial advisers becomes so important, as they endeavour to offer the best possible advice. The Bstar Group has recently released a farm succession planning training course for accountants and financial advisors, which provides the framework to build a five-step advisory process. This advisory process considers awareness and education for the client, needs review, alignment and engagement, plan outline, and improvement and support for the client. Grant Bloxham says succession is a major strategic area for farmers, and while financial numbers, tax, and asset protection structures play a very important role, educating the client about succession is key. Topics: Accounting & Tax, Family Business, Financial Management |
 Grant Bloxham, Bstar |