Succession in farming businesses is often seen as something that can be “done and ticked off”.
But it behaves much more like a washing machine—something that runs through cycles, requires the right inputs to optimise the outcome, and needs to be replaced over time.
If you think about a washing machine, no one expects it to last forever. Most will run effectively for around ten years before they begin to fail, or become inefficient, or simply fall behind current technology. Succession planning is no different. Even if a family believes they have “done succession”, the plan itself needs to be revisited, challenged, and potentially updated – a good rule of thumb is every ten years— to ensure it remains relevant, defensible, and aligned with current legislation and tax settings.
Beyond this lifecycle view, the washing cycle itself provides a useful way to think about the succession process.
The first stage of any wash cycle is the sense and fill. This is where the machine weighs the load, takes in water and detergent to start the cycle.
During succession, this stage represents gathering advice, sourcing information, and combining elements. Financial planners, accountants, lawyers, your financier, and your consultants all play a role in building a strong foundation. Without the right inputs, the process is compromised from the beginning. Good advice sets the direction and ensures the business is moving forward from an informed position.
The next stage of the cycle is agitation. This is where things start to move. It’s where all that advice, input and information is mixed together; how does the tax advice impact or influence the legal advice? Is it workable for your bank? These highly technical components also need to be carefully considered alongside the business’s current and future capacity to make investments, payouts or payoffs. An outcome for outcomes’ sake can be problematic, especially when all the pieces of advice fit together in a sustainable way.
The agitation stage is noisy, uncomfortable and not always tidy. This is a direct parallel to the family conversations that occur during this stage of succession — it’s where the first level of trade-offs could present themselves. These discussions often involve competing priorities, emotion, and differing expectations. But without this movement and process, nothing actually changes. Agitation is necessary. It brings issues to the surface, helps align goals, and forces clarity on roles, ownership, and the business’s future direction.
Following this, the washing machine moves into the rinse and spin cycle. This is where structure is applied, and clarity emerges. In a succession context, this is where agreements are formalised, ownership structures are defined, and the process is mapped out and costed. It is also where risks are removed. Poor structuring, tax exposure, or unclear agreements can quietly sit in a business for years before becoming major issues. This stage ensures the plan is robust and can withstand pressure, whether from regulatory scrutiny or shifting family dynamics.
Following the rinse and spin, you can either hang everything out to dry (the slow and steady process) or use the dryer and get it done and dusted in record time.
The key message is simple: succession is not a one-off exercise. It is a process, and more importantly, it is a cycle. Like a washing machine, it requires the right inputs, needs to move, must be structured properly, and should be reviewed and refreshed over time.
Ignoring this can lead to inefficiencies at best and serious risk at worst. Treating succession as a living, evolving process ensures that farming businesses remain resilient, aligned, and wellpositioned for the future
