After the resounding success of the Farm Succession Expo in Bruthen and Omeo last year, the highly anticipated ‘Family, Farm, Finance, Future’ Succession Planning Expo is coming to Orbost Golf Club tomorrow, August 29.
Thanks to the generous support of the Gippsland Community Foundation, local farmers and community members now have the opportunity to access crucial resources and innovative strategies for farm succession planning and community revitalisation.
Sam Marwood, founder of the social enterprise Cultivate Farms, will shake things up, presenting new approaches to farm succession, designed to secure the future of farming businesses while breathing new life into rural communities.
Farm succession planning, which touches on complex financial, legal, and emotional and family relationship aspects, has been identified as a critical need by East Gippsland farmers.
The process can be daunting, involving land assets, business structures, retirement and family dynamics.
This event aims to demystify succession planning and provide the tools necessary to begin, navigate and complete this vital process.
Rick Blackshaw, who successfully navigated the succession planning journey, will share his story at the event.
“Succession planning can be a challenging time,” Blackshaw said.
“But seeking the right help allowed us to create a plan that gave us more possibilities for the future.”
Tools to embark on traditional methods of farm succession, where a descendent inherits the business, will be detailed but may not suit every family.
As communities age and younger generations face prohibitive entry costs, the need for innovative solutions has become clear.
Cultivate Farms will outline a way to address this challenge by connecting retiring farmers with aspiring young farmers, ensuring a smooth transition of ownership over time.
“Cultivate Farms focuses not just on the financial and legal aspects of succession planning, but also on aligning the hopes and desires of the entire community,” Marwood said.
“This approach is what makes the model so successful.”
The event in Orbost, in partnership with RFCS Gippsland, Gippsland Community Legal Service, Gippsland Agricultural Group and Agriculture Victoria, will feature a range of speakers offering valuable insights.
Social Security Rights Victoria, along with Bairnsdale-based Findex and Argentino lawyers, will provide expert advice on financial and legal considerations, wills and power of attorney, and pension matters.
Tickets for the Orbost ‘Family, Farm, Finance, Future’ Succession Planning Expo are available via Humanitix with a discounted price for farm business and family groups.
Speakers covering a range of topics will run 9.30am-12pm at the Orbost Golf Club.
A local business and service expo will run until 2pm, providing an opportunity for attendees to connect with further support to complete their succession planning process.
Lunch is included and funded tickets are available to any individuals or families for whom cost is a barrier to attend.
