Ballast & The Farmers' Inheritance
- Jaqui Peters
- 2 hours ago
- 2 min read
Long Story Short
Clients needed $250,000
Key priority was to keep family farm in the family
The strategy delivered more than an eightfold financial return.
The Long Story
The Situation | Three sons were set to inherit their father’s half of the farm that he had jointly owned with their uncle. However, in order to receive their 50% inheritance; the brothers had to come up with $250,000 to buy out their uncle. Originally, they sought advice from a finance broker who was unable to help, as they didn’t have enough equity to borrow that amount of money. Eventually, they were referred to our team at Ballast Group of Companies. |
The Plan | Ballast assessed the brothers’ individual financial positions, including their superannuation funds. Our team ascertained that with the combined amount from their funds; they would be able to buy their uncle out and receive their inheritance. We assisted them with the establishment and management of their Self-Managed Super Fund, to ensure the purchase of the farm and the on-going administration of the Fund remained compliant. |
The Results | The end result far exceeded their original goal. Not only were the brothers able to inherit the farm their father wished to pass onto them, but when their uncle retired and the brothers agreed to sell the property; they received a total of $2.53 million for their 50% share. |
Our team worked hard to ensure the best possible result for our clients, because we understand that the advice we provide can have a very real and lasting impact on people’s lives.
While we’re proud to have achieved an excellent financial result for our clients, what makes this outcome even more meaningful is that we were also able to help keep an important asset within the family until they were truly ready to let it go. It’s outcomes like this that remind us why the work we do matters.
Every individual’s financial situation is different which is why here at Ballast, we value deep expertise and apply our knowledge with thought and care. Our integrated services approach means you have an entire team ready to assist you with each of your financial needs.
Financial advice doesn’t have to be complicated. Get in touch today to let us help you build a life you’re proud of.
Disclaimer:
This case study may contain general advice which has been prepared without taking into account your objectives, financial situation or needs. Accordingly, you should consider the appropriateness of any general advice we have given you having regard to your own objectives, financial situation and needs before acting on it. Where the information relates to a particular financial product, you should obtain and consider the relevant product disclosure statement before making any decisions to purchase that financial product. Ballast Superannuation Management is an administration service. We recommend you seek clarification from your Financial Planner or Accountant regarding any general advice given.
Licenses:
Ballast Financial Planning Corporate Authorised Representative Number: 1261619
Corporate Authorised Representative of AD Advisory Services Pty Ltd Australian Financial Services License Number: 237058
Ballast Accountants Pty Ltd Registered - Tax Agent Number: 76473006 - BAS Agent Number: 26233797
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