How to Business

A big concern for farm owners is how to ensure their farms stay in the family for generations to come.

Proper estate planning can spare future generations much unhappiness and legal costs especially where the succession of agricultural property is involved.

The assistance of a land surveyor is key to ensuring lawful procedure. Altus Strydom, chairperson of the South African Geomatics Institute, spoke to Gerhard Uys.

Holding a disciplinary hearing must follow due process. This includes taking into account when to postpone the hearing.

Farm input costs include items such as feed, labour and machinery. The following general cost input terms are useful in calculating precisely how much your farm costs you to run.

According to Stats SA, only 6% of South Africans can afford to retire comfortably, while retirement planning was highlighted as the biggest financial planning concern amongst commercial farmers in a recent study for Farmbiz by Marketing Surveys and Statistical Analysis.

Many of us look forward to the day when the ‘question is popped’ and preparations for the big day begin. However deciding to get married entails far more than planning a beautiful wedding. There are far-reaching decisions that need to be made.

(Standard Bank v Johannes Gerhardus Swanepoel NO [2015) ZASCA 71). Standard Bank provided an agricultural produce loan and a business cheque account to the Harne Trust represented by the trustee, Johannes Swanepoel.

One of the overarching objectives of estate planning is to minimise estate duty. There are various planning mechanisms which can be applied to ensure that this objective is achieved.

Nominating a person as a beneficiary on a RA is not a guarantee the person will receive the full benefit intended for them. Careful consideration needs to be given to this as part of a holistic financial plan and in dividing assets between one’s heirs.

Output terms relate to the value of production or yield (such as fodder) of a specific farming enterprise sold or used on the farm. In some cases, this may include sundry farm income.

The unbridled misuse of natural resources guarantees a future of environmental and socio-economic crises.