In this episode of The Agricoach Wealth and Wisdom Podcast, Ben Law sits down with Kylie Wilson, a specialist in rural asset planning, to discuss one of the most effective tools for securing the future of your family farm: a family agreement.
From managing the tricky process of transferring land and assets to addressing the emotional challenges that can come with succession planning, Kylie explains how these agreements set clear expectations for everyone involved. They discuss key elements that should be included to cover both financial and relationship concerns, and whether it’s always necessary to make these agreements legally binding.
To bring it all to life, Kylie shares a compelling case study showing how one family used a well-structured agreement to avoid conflict and maintain harmony during the asset transfer process.
If you're navigating succession or simply want to protect your family’s legacy, this episode offers essential advice to help you safeguard the future of your farm.
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Ben spent over 20 years working with successful business owners and farming families which allowed him to unearth the timeless principles on how to successfully grow, protect and maintain wealth.
If you want to learn the principles of how to grow your family’s wealth throughout the generations, then you might consider joining The AgriCoach Podcast each fortnight for more Wealth & Wisdom.
Disclaimer: The information contained in this podcast is general in nature and for education purposes only. It is not financial advice. It is not legal advice. No one should act on the information without appropriate specific advice for your particular circumstances. Ben Law is a former financial advisor but is no longer licensed and cannot and will not give you specific or personal advice in this podcast. The Financial Bloke Group Pty Ltd accepts no responsibility for any loss or damage occasioned by any person acting or refraining from action as a result of reliance on the information in this podcast.
https://thefinancialbloke.com.au/
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