Farmers Don't Retire: The Conversations That Never Happen

Kate's dad was close to the end of his life when a physio asked him when he'd retired. His answer? "Farmers don't retire". Kate grew up the youngest of six on the family farm at Elmore, which has been on her father's side since 1870. Her two eldest brothers became the farmers. Kate was steered towards an academic career, spent 20 years advising farming families and then bought some land of her own. Over an Irish nitro stout, Kate talks about coming home for the Sunday roast and struggling to stay in her lane, the powerful advice from her mum that she brushed off at the time and the chat with her dad, in the barn while the two of them were shovelling sheep manure, that finally got him unstuck. Kate reckons only about one in ten farming families has a legally binding succession plan that everyone knows about, and it's rarely the wills and trust structures keeping the rest of them stuck. When the farm is the family home, the office and who you are, what's left when it's time to hand it over? Chapters 00:00 Welcome to My Shout 01:03 The Bloke at the Townsville Pub 03:32 Youngest of Six at Elmore 10:29 When the Farm Is Also Home 12:59 You Can't Control Other People's Lives 17:42 Starting the Conversation With Dad 23:58 How Few Families Have a Plan 27:12 In-Laws and Who Takes Over 30:36 Wills, Trusts and Tax Changes 38:57 When Succession Goes Well 41:23 Coming Home With New Ideas 46:37 Kate Turns the Tables on Shane 51:14 I'm a Farmer Versus I Farm 55:23 Today's Shout: Devilbend Nitro Stout Today's shout was an Irish nitro stout from Devilbend Farm Beer Co. on the Mornington Peninsula. Devilbend Farm Beer Co.: https://devilbend.beer/ About Kate Burke Dr Kate Burke is an agri-strategist and communicator helping people of agriculture think better, stress less and prosper more. Kate has recently authored Succession: Future Proofing your Family Farm and conducts speaking, training and strategy sessions for family businesses navigating the challenges of transferring assets and responsibility from one generation to another. Kate has 35 years' experience helping farming families. Website: https://thinkagri.com.au/ LinkedIn:   / drkateburkethinkagri   Facebook: https://www.facebook.com/share/1J9UGn... Follow My Shout wherever you listen. Apple Podcasts: https://myshoutpodcast.com/apple Spotify: https://myshoutpodcast.com/spotify More episodes: https://myshoutpodcast.com/episodes #MyShout #FamilyFarm #FarmSuccession