Month: July 2025

Succession in a family business isn’t a transaction. It’s a test of leadership, patience, and values.

For our family, it was a journey that took more than a decade—from the first conversations with Mum in 2012 to final settlement in May 2025, just months after she passed.

It began with a shared intent: keep the family farm in the family. But living that intent took time, courage, and compromise.

My brother had returned home post-earthquake and was working alongside Mum. I knew I didn’t want to farm it full time—but I did want a clear plan that honoured our family’s legacy and I did want to retain a connection with the land.

We engaged advisors. Ran workshops. Explored different options. At times, the conversations broke down. Progress was slow. Emotions & frustrations at times ran high.

Eventually, we explored a buyout option, and after 8 months of negotiation, we agreed: he would retain the farm, stock, and plant; I would retain a small bush block; and we would settle with a cash component.

Then, just weeks later, and before we could action a formal contractual agreement, Mum passed away quite suddenly.

It was a powerful reminder that succession planning must account for the unexpected. Without a plan, we would have faced increased financial risk, a lengthy process, and family strain—right in the middle of personal grief. We had to navigate a funeral and the probate process which added complexity.

Thankfully, we had a foundation plan in place. Not perfect. But one that we could implement with minor amendments.

What I’ve personally learned:

• Create a clear pathway. One that gradually leads to an agreed and aligned plan—don’t leave it to chance.
• Start early. Succession is a process, not an event. It takes far longer than you might think.
• Expect the unexpected. Illness, death, or external pressure can shift everything and quite suddenly.
• Know the role. For several years prior to her death I had the financial power of attorney for Mum and the responsibility and governance that brings. It added unexpected complexity and conflicts that were hard to balance. The requirement to do the right thing on Mums behalf (business and care) whilst balancing the interests of my brother & my self as we explored the options for farm transition.
• Fair ≠ equal. Seek outcomes that are pragmatic, fair and respected, not just based on accounting numbers. It comes back to being clear what each party wants and managing expectations.
• Anchor to shared intent. Our north star was Mum’s wish to keep the farm in the family. We were able to return to this when it got hard and it brought us back on track.
• Use trusted external advisers. They really help you to work through the conflicts that arise. They bring logic, neutrality, experience and structure to difficult conversations. Pay for the best advice and use it.
• Learn from others who’ve done it well. Hearing the experience of others shortens the journey and protects relationships. Every situation is very different but there are many common issues – consider this lived experience and adapt it and apply it.
• Stay connected as a family. Through birthdays, shared meals, and simple check-ins—relationships need their own care. So many families lose their way and relationships never recover.
• Stay invested. I chose to leave funds in the farm to support my brother and his family’s success. That decision honoured our mother’s intent and legacy—and my own values. I will always love the farm, the land and my family and as such will always be supportive and want it to remain a family jewel.

Succession is the ultimate long game. It’s not about control—it’s about stewardship. Not about what’s fair today—but what’s sustainable and sets up future generations.

If you’re on this path: take your time, talk openly, and build a plan before you need one.

You will need courage and guidance to navigate many options and decisions.

I say trust the process. Inaction is not an option because we all have to face it.

Because when succession is done well, it strengthens more than a business. It strengthens a family. If done poorly it can destroy the bonds of any family and sadly, after a lifetime of success and achievement a lasting legacy will be about how you exit and the way the remaining family feels.

If you’re navigating succession in a family business, I’m always happy to connect, share, or listen. #SuccessionPlanning #FamilyBusiness #Leadership #Governance #Legacy #Agribusiness