The Farm Succession Planning experts in Wagga.
Protect your legacy with a farm succession plan.
Facilitate resolutions allowing farming legacies to continue.
Supporting you at every step to secure your families future.
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Why choose Orman Solicitors with your Farm Succession?
What is a farm succession plan?
Farming succession is the process of transferring ownership, management and operation of a farm from one generation to the next. This multifaceted transition involves the transfer of not only physical assets, such as land and equipment. But also, the knowledge and skills that define a family’s agricultural legacy. Navigating farming succession requires careful planning, communication, and thoughtful consideration of financial, legal, and emotional impacts to ensure the seamless continuation of a farming enterprise.
How we work with you
Here’s how the Farm Succession Process unfolds:
Read our reviews
★ ★ ★ ★ ★ | 5.0 Star Family Law Services in Sydney and Wagga Wagga
★ ★ ★ ★ ★
Mary
★ ★ ★ ★ ★
My experience with Orman solicitors has been truly amazing with there professional team of experts. I could not be happier with the outcome off my family law settlement and would highly recommend Orman solicitors for all your legal matters.
Angela Williams
★ ★ ★ ★ ★
Great, knowledgeable and supportive staff, they were efficient in getting me a great result. The communication was clear and consistent, when I had queries, they were addressed promptly. Could not recommend more.
Lindsay Wilson
★ ★ ★ ★ ★
I’d like to share, my upmost Respect to Ormans Solicitors team members, they had my back, got me through the most difficult times, I was so overwhelmed worrying about everything, would all sort out. I would recommend them out there, they certainly give you the support, comforting, that its all going to be ok. Maggie, and the team are just Amazing. I’d like to Thank, each and every one of them for helping through, with there dedication and outcome certainly was of comfort, Good ending. I was so Happy, I chosen Ormans Solicitors. You are All a Great Team. I will Always be Grateful. Thank you to All of You.
Rose Valenzisi
★ ★ ★ ★ ★
“I cannot thank Maggie and her team enough for the flawless way they handled my matter. I felt that Maggie was always completely invested in my matter and everything from the beautiful office to the team’s amazing service made me feel like family. Their commitment to my matter never ceased to amaze me. I would not hesitate to recommend Orman Solicitors.”
Lisa
★ ★ ★ ★ ★
When I first approached Maggie I was financially destitute and frightened, my settlement was not going well, I had been dropped by another solicitor because they felt that my case was to difficult and time consuming. Maggie helped me to feel at ease she assured me that I everything would be okay and then she and her staff went to work. She helped me to stay strong when I was ready to give up and just take anything to make the whole mess go away and fought for me to get an amount that was acceptable. I highly recommend Maggie and her team they truly do go above and beyond the call to ensure that their clients get the absolute best result possible.
Shimmer Pender
★ ★ ★ ★ ★
Maggie has been my solicitor for a number of years – in all that time, I have found her to be professional, hardworking, honest and respectful. She has shown compassion, empathy and helped my family through the toughest times when we needed it most. I have recommended her to friends and relatives, who have also then gone on to recommend her and her firm.
Helen Gordan
★ ★ ★ ★ ★
Empathy, dedication and passion are three words I would use to describe Maggie Orman and her team. Maggie has been my family lawyer for over 10 years and has guided me through many difficult periods of my life, and ensured I came out the other end a stronger woman and mother. Maggie is rational, compassionate and highly ethical. I felt that she truly cared about me, my family and our wellbeing. Maggie’s skilful advice and counsel achieved an incredibly quick resolution, and kept costs to a minimum. I will continue to use Maggie Orman Solicitors for all my family law requirements and highly recommend her to anyone requiring a family lawyer.
Joan Rached
★ ★ ★ ★ ★
The Barnett family are very thankful to Maggie and the whole team for doing all the groundwork to get our case a great result. We are very happy with their help and wish to give them credit for their hard work to get our matter up and going.
The Barnett Family
Why a Will is not a Succession Plan.
A will is a document that details how you would like your assets to be distributed in the event of your passing. However, farming involves a unique set of challenges and operational considerations that extend beyond asset distribution.
A strategic approach
Unlike a will, a robust farm succession plan encompasses not only the transfer of land and physical assets but also addresses the complexities of managing and sustaining an agricultural operation. It involves a strategic approach to ensure the seamless transition of knowledge, skills, and the day-to-day responsibilities inherent in running a farm.
Preserving your farming legacy.
A well-crafted farm succession plan takes into account the aspirations, abilities, and interests of potential successors, aiming to preserve the farming legacy and maintain the viability of the agricultural enterprise across generations. In essence, while a will is an essential legal tool, a comprehensive farm succession plan is indispensable for the continued success and continuity of a farming operation.
Transition in harmony and prosperity
Maggie’s experience in farming, coupled with her legal expertise, enables Orman Solicitors to offer innovative solutions for succession planning within farming families. Having previous experience as a wool classer and shearing contractor and running her own farming sheep and cattle operation Maggie understands the intricacies and pressures that conversations around succession planning can put on farming communities.
A thoughtfully crafted farm succession plan extends far beyond the legal and financial aspects of farming, touching on the emotional and relational dimensions of family farming. By embracing the benefits of a succession plan, families can pave the way for a harmonious transition, financial prosperity, and the enduring success of their agricultural legacy.
Maggie Orman
Principal
Renata Matyear
Senior Solicitor
Eileen Newcombe
Senior Solicitor
Farm Succession Planning FAQ
Here are some frequently asked questions about Farm Succession Planning in New South Wales:
When should we start farm succession planning?
It’s never too early to start. Ideally, planning should begin 5-10 years before the anticipated transition. This allows enough time to prepare, communicate clearly with family members, and address any challenges that may arise.
What role do non-farming family members play in the process?
Non-farming family members should be part of discussions to maintain family harmony and prevent disputes. While they may not be directly involved in farm operations, addressing their concerns and interests is essential for a balanced plan.
How can we involve the next generation in management?
Beyond transferring ownership, effective succession planning should also involve mentorship and training for the next generation. This includes defining roles, establishing clear responsibilities, and facilitating leadership development.
How can we ensure fairness among family members?
Achieving fairness in farm succession can be challenging, especially when some children are not involved in the farm. Open communication, professional mediation, and considering both on-farm and off-farm assets can help. It’s also helpful to establish clear criteria for roles and ownership distribution.
What are some tax implications of farm succession?
Farm succession can involve various taxes, including capital gains tax, stamp duty, and other estate-related taxes. Strategies to minimise tax liability include utilising trusts, gifting assets during one’s lifetime, and taking advantage of agricultural exemptions. Consulting with a tax specialist is crucial to avoid overpaying taxes.
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