Planning for retirement and farm succession - the perspectives of New Zealand farm families
dc.contributor.author | Oldfield, Mark | |
dc.date.accessioned | 2014-06-16T00:07:14Z | |
dc.date.available | 2014-06-16T00:07:14Z | |
dc.date.issued | 1997 | |
dc.description | The New Zealand Kellogg Rural Leaders Programme develops emerging agribusiness leaders to help shape the future of New Zealand agribusiness and rural affairs. Lincoln University has been involved with this leaders programme since 1979 when it was launched with a grant from the Kellogg Foundation, USA. | en |
dc.description.abstract | The objectives of this project are to firstly to raise awareness of planning for retirement and farm succession. The second objective is to formulate and enunciate a consideration of the key elements of viability, communication, fairness, timing and attitudes toward retirement and farm succession and thirdly, in so doing achieve successful farm succession. There is a lack of knowledge about planning for successful retirement and farm succession in New Zealand. Overseas and New Zealand literature on issues such as the timing of retirement, retirement options, fairness to all children and the need for planning (Errington 1993/94; Gasson & Errington, 1993; Keating & Little 1991; Eaton; 1993; Lynch 1996; McCrostie Little and Taylor 1997) confirm the general themes of viability (flexibility & stability) communication, fairness, timing (planning) attitudes and stress. In the majority of cases (McCrostie Little and Taylor 1997) farm succession did not involve a 'farm' as a clearly defined package of land, plant and stock that passes from one generation to the next. Rather, it is a process where the traditions, skills and capital of farming are passed on. Three succession universals prevail: • retaining an adequate retirement income • being fair to all the children • managing succession so that the successors and the farm business are not burdened with debt. The following three observations are universal across the generations: • open communication between the generations • begin planning and preparation for retirement and succession early • be open to ideas, be flexible, be prepared to change. | en |
dc.identifier.uri | https://hdl.handle.net/10182/6055 | |
dc.language.iso | en | |
dc.publisher | Lincoln University. Faculty of Commerce. Kellogg Rural Leaders Programme. | |
dc.relation.ispartofseries | Kellogg Rural Leaders Programme report | en |
dc.rights | Copyright © The Author. | en |
dc.rights.accessRights | This Kellogg Rural Leaders Programme report can be viewed only by current staff and students of Lincoln University. | en |
dc.subject | retirement | en |
dc.subject | farm succession | en |
dc.subject | planning | en |
dc.subject | family farms | en |
dc.subject | succession plan | en |
dc.subject.anzsrc | ANZSRC::070107 Farming Systems Research | en |
dc.subject.anzsrc | ANZSRC::150312 Organisational Planning and Management | en |
dc.subject.anzsrc | ANZSRC::0701 Agriculture, Land and Farm Management | en |
dc.title | Planning for retirement and farm succession - the perspectives of New Zealand farm families | en |
dc.type | Monograph | en |
lu.contributor.unit | Kellogg Rural Leaders |
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