The questions to answer

With the facts gathered, the family can start on the big questions. You won't answer them all in one meeting. That's normal. The aim of the first conversation is to get them on the table and agree what to find out next.

What do the parents need to live on?

This comes first, because it shapes everything else. Ask:

• How much a year will the parents need, now and later?
• Where will they live? On the farm, in town or somewhere else?
• Where will the money come from? A wage from the farm, rent, super, savings or selling some assets?
• What happens if one of them needs care?

Our household drawings tool helps add up living costs line by line.

Who wants to farm?

Don't assume. Ask each person, one at a time if that's easier. Some children who left may want to come back. Some on the farm may want out. Then ask the next question: can the farm support them? That's the money question in lesson 4.

Fair or equal?

Equal means everyone gets the same share. Fair means each person feels the outcome is reasonable, given what they have put in and what they get. They are not always the same thing.

A child who has worked on the farm for years on a low wage may feel fair means more for them. A child who left may feel fair means equal. Both views can be reasonable. The WA succession guide talks about giving all stakeholders a voice and understanding everyone's needs.

There's no right answer we can give you. What's fair is for your family to work out, with good advice. A facilitator can help, and so can talking about it early, before feelings set hard.

What's the timeframe?

Handing over has two parts, and they don't have to happen at the same time:

• Management. Who makes the day-to-day and big decisions, and when that changes.
• Ownership. Who owns the land, stock and machinery, and when that changes.

Management can be handed over in steps, over years. Agree some rough dates, even if they shift.

Write it down

At the end of each meeting, write down what was agreed and what's still open. Share the notes with everyone. Then take that list to your accountant and solicitor. Our first conversation checklist lists all of these questions.