Rabobank offers a facilitation service specifically for rural succession planning. The service is subsidised by FarmBis in some circumstances and facilitated by professionals who understand and have empathy with the succession issues facing rural families.

There are critical times in the life of the business and the family when succession issues come to the fore, such as when a son or daughter returns home to work in the family business or when either generation has concerns about future security.

The succession planning facilitator's role is to establish a communication structure and an action plan to address the central issues raised by the family members. The aim of the facilitation process may be to resolve a single issue, such as the purchase or sale of a farm, or it may be to resolve a number of specific issues, such as retirement planning for the older generation, the gradual transfer of management control, estate planning fairness for off-farm children, or the establishment of an education fund for farm children.

The aim of the process may even be the development of a comprehensive succession plan for the full transfer of management control and asset ownership from one generation to the next.

Succession planning can have many personal, family and financial benefits, including:

• identification and resolution of specific issues
• increased financial security for each generation
• increased personal motivation and family co-operation
• improved business and personal communications
• opportunity for the family business to realise its potential and profitability, and
• direction and clarity of goals

Many rural families have already benefited from Rabobank's succession planning facilitation service. If you are interested in talking with us or would like more information about our succession planning facilitation process, please contact us.

For further information locate your nearest branch or email successionplanning.au@rabobank.com.

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