Farm for the Future: Topic Workshop: Succession Planning

This is a programme funded by DEFRA’s Future Farming Resilience Fund and run by the Royal Countryside Fund, to help farmers navigate changes in funding and policy.

Workshop Structure and Key Topics

The session will delve into the four core strands of succession planning:

The Business Plan - Setting the strategic direction, goals, and future vision of the farm.

The Succession Plan - Mapping out who will take over, when, and how responsibilities will transition.

The Retirement Plan - Focusing on retirement goals for the outgoing generation, with a look at timing and financial security.

The Asset Plan - Ensuring assets are protected and structured effectively to enable a smooth transition.

Key Elements of the Workshop:

Practical Tools: We’ll provide families with tools to start the conversation and approach succession planning strategically, setting action steps and defining roles.

Hosting a Family Meeting: Guidance on how to facilitate productive family meetings, address potential conflicts, and ensure a fair and balanced discussion.

Expert Involvement: Highlighting when and how to bring in experts, from legal to financial advisers, to create a comprehensive and personalized plan.

Why This Matters

Too often, decisions are rushed or focused solely on tax savings, often at the expense of family harmony or the farm’s long-term goals. This session will emphasize the importance of planning early, setting goals that align with family and business objectives, and preparing for a sustainable future.

This workshop will be delivered in partnership with Mike Mack of The Rural Consultant Ltd.

Michael Mack is an independent consultant for farming and rural businesses who want to face the future with confidence.

www.theruralconsultant.com

Any tenant or owner- occupied farm currently in receipt of BPS in England is eligible to join – even if you have already participated in a programme run by The Royal Countryside Fund. Every farmer who participates will become a member of The Royal Countryside Fund’s Farm Resilience Network which provides a bank of resources and ongoing support.

Due to the interest in this workshop, Farm for the Future will be given priority access, with the event being open to Norfolk FWAG members 2 weeks before the event date. Book now to avoid disappointment.

Refreshments provided.

Host or Publisher Norfolk FWAG