AustralianSenior.com

The Rudd government has pledged an extra $2.4 million to assist drought-stricken farmers worried about the future.

It's aimed at helping farmers develop a succession plan, something too many have failed to address amid Australia's big dry, Agriculture Minister Tony Burke said.

The money will go directly to the 110 rural financial counselors around the country, who will then give farmers advice and support about how to hand over their businesses.

This is mainly due to the fact that the average age of Australian farmers is just under 58 years, according to 2009 statistical figures.

But of the 8550 farmers who have sought counseling assistance over the past nine months, almost 1500 admitted to not having a succession plan.

"Whether it's a person wanting to get into farming or transition into retirement, the story is the same - help with farm succession has been a missing link in support for farmers," Mr Burke said in a statement.

"These farms are not just businesses - they're homes and in many cases, they're the family history."

The counselors will work through succession plans with those who need it, connecting them with relevant advisers and government agencies to assist in the transition.

Succession planning was a key issue identified in a 2008 government report on national drought reforms.

It noted the changing demographics of farm families and recommended the government introduce new measures to enable effective "inter-generational change".