Farm succession a familiar tune
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FOR farming families — including on Yorke Peninsula and in the Mid North — land carries weight that’s hard to explain to anyone who hasn’t lived it.
“We try to convey this when writing and talking about farm succession but Troy Cassar-Daley and Colin Buchanan capture it best through song,” says Joel Byrth, principal and lawyer of Mildwaters Byrth Lawyers & Conveyancers.
“When you listen to a song like ‘Family Farm’, you remember it’s where your grandfather planted those shelter belts that still break the westerlies, it’s where your kids learned to drive the ute and it’s generations of knowledge about every paddock.
“No wonder succession planning feels so difficult — it means facing up to the fact that things will change.”
Mr Byrth says people expect a law firm to tell you to focus purely on the practical side of succession planning, such as legal structures, tax implications and property valuations.
But he says the succession plans that work best acknowledge the emotional weight of these decisions.
“Once those feelings are out in the open, we can build a legal framework that reflects what matters most to your family,” he says.
“Planning early for succession gives you breathing room, allowing for gradual transitions and fair arrangements and ensuring proper legal structures that minimise tax implications and protect what your family has built.
“If you wait until a crisis, such as a sudden illness, a death or a family disagreement that’s been simmering for years, your options narrow considerably and decisions get made under pressure.
“We know the challenges facing YP and Mid North farming families — the market conditions, the succession patterns common in our region, the local context that shapes every decision you make,” Mr Byrth says.
“We’re here to guide the conversation, help you explore options you might not have considered, and build a legal framework that protects your legacy while preserving family relationships.”
Contact Mildwaters Byrth at their Kadina office on 8821 2199 or the Minlaton office on 0448 725 447, or visit mildwatersbyrth.com.au.
