Farm Succession Assessment | Unity Insurance

1.

Have you set a clear timeline for when the next generation will take over the farm?

I haven't thought about a timeline yet; I'm focused on day-to-day operations.

We talk about it as a family, but nothing is in writing.

I have a timeline for some parts (like daily management) but not for others (like transferring land ownership).

Yes. We have a clear, documented timeline for transferring both farm management and asset ownership.

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2.

Have you decided on the specific legal and financial terms for transferring your farm assets (land, machinery, shares, quota)?

No, we haven’t investigated the legal or financial details yet.

We have an informal idea of how we want to divide things, but nothing is formally structured or in writing.

I know how I want to transfer some assets, but I'm stuck on how to handle the rest fairly.

Yes. We have legally documented terms for how all farm equity and assets will be transferred.

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