Rob and Jill, aged 53 and 52, have run the family farm for over 30 years, in 2001 they started a second business – Harbury Fields Caravan Park.
They love running both businesses, but it’s hard work and it gets tougher each year. They’re starting to think about scaling back their commitments and to start succession planning.
We hear them both discuss family succession planning, how Rob’s pension may be used to support the business, the best way to gift money to family members and when is a sensible time for a family business to seek financial advice.
Have you discussed succession planning with your family?
When should a family business take financial advice?
Have you considered how to make the most of your pension?
Have you considered the most tax-efficient way to gift money?