Farming families tackling change

17th Oct 2014

On Thursday 2nd October, GLENRAC welcomed over 50 people to their succession planning day, “Spring Thinking”. The workshop had a very full agenda and covered considerable content, however the participants remained very engaged throughout the day, and took a substantial amount of information away with them.

Lyn Sykes presented the majority of content, and while her talk was entertaining and peppered with anecdotes, it incorporated many valuable points for better family communication. Some standout messages for participants included respecting and encouraging differences within the family, different personality types and how to communicate more effectively with them, and how to ask hard questions.   

Lyn provided attendees with a basic format for succession planning conversations with their families. With a starting point for working with their families coupled with the tools to better communicate with each other, participants left more confident that they could achieve better results in a healthier manner.   

The presentation by Jane Newsome from Roberts and Morrow was challenging and very stimulating. Attendees found her discussion points on self managed super funds, taxation rules, and business structure very informative and relevant.

Peter Pardy, APJ Law, was also very well received. Highlights of his presentation included discussion on wills, trusts, powers of attorney, and a variety of succession scenarios that dealt with the legalities of passing on the family business.     

The day went very well, and all three presenters provided attendees with new concepts and perspectives to consider. Participants observed that the day was informative, relevant, had excellent presenters, and generated good ideas.

GLENRAC would like to thank all the sponsors of the Spring Thinking project, particularly Roberts and Morrow and APJ for donating their valuable time. Others include Community Mutual Group, the Foundation for Rural and Regional Renewal, Carers NSW, and The Ascent Group, part of the Australian Government’s drought assistance package. 

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