Reading Time: 3 minutes Legacy runs deep in agriculture. It’s not just about the land. It’s also about the family name, the farm’s story, the values and the impact that continue long after the current owner has stepped away from the day-to-day. For most farm leaders there comes a time when the question arises: What happens to the operation […] Read more
VIDEO: Building a farm that outlasts you
Summer Series: Legacy isn’t about control. It’s about leading today in a way that creates strength, curiosity and clarity for tomorrow’s owners
How to talk about your farm succession estate plans
Summer Series: Estate planning is never easy — and more difficult still is the conversations you need to have with your family. But these conversations can be a great opportunity to teach the next generation about money, family relationships and how to make decisions together
Reading Time: 5 minutes You’ve worked hard your whole life and lived within your means. Now, you want your estate to help the future generation succeed — not create problems or heartache for your family. But if you want your estate to create a legacy of positivity, you’ll have to proactively communicate your wishes through an estate plan. Like […] Read more
Taming monsters: When farm succession rears its head
Summer Series: With today’s access to capital and cost of land, many farms have grown beyond the point of “built to sell.” What happens when infrastructure and land holdings are too big for an exit strategy?
Reading Time: 2 minutes Family farms were less complex when I was growing up and farming in the 1980s through the early 2000s. Decisions were made in thousands of dollars, not millions. Summers were spent at the lake, not in the cab of a sprayer. It was a great way of life, one that shaped my attitudes and behaviours. […] Read more
Succession on the farm: Where to begin?
Summer Series: Thinking of farm transition as a short-term, quick deal that we must get right because we only get one chance can prevent us from even starting the process — and starting it off right
Reading Time: 3 minutes I recently polled farm managers about what big projects they were planning for this year. Half the respondents said succession was a priority; however, many indicated that they don’t know where to start. I look at it like this: if you’ve taken your child to the field, or they work alongside you, then you have […] Read more
When farm plans fail
If you’ve been talking for years about planning something for the farm, maybe it’s time to look at why you’re stuck
Reading Time: 3 minutes “It’s been 10 years, and we still don’t have a plan.” If this sounds like something you’ve said to yourself, have you also asked, “Why don’t we?” Ten years talking about making a plan but still not having it written down, or not making any real changes in the way your farm operates, can be […] Read more
Manitoba farmers share their farm succession story
Transitioning the family farm can be riddled with challenges. The Stepplers have learned that working collaboratively offers a better chance of success for all
Reading Time: 7 minutes It’s a fact that most families squabble. Individuals don’t always see eye to eye, and they can’t always work together. But if they can find a way, it can make a world of difference to the profitability and future of their farm — and the success of their relationships with each other. The Stepplers managed […] Read more
An evolving vision
First-gen farmers share their blueprint for business transition
Reading Time: 5 minutes When it comes to starting and growing a business, you’re only limited by your imagination. For Belmont, Manitoba first-generation farmers Lydia Carpenter and her husband Wian Prinsloo, it’s that type of unlimited, outside-the-box thinking that has become their regular way of thinking. Over the years, they’ve leveraged multiple income streams, a direct-to-consumer marketing beef business, […] Read more
How farmers can thrive in retirement
There isn’t a one-size-fits-all approach to retirement and planning ahead makes it much more enjoyable
Reading Time: 5 minutes For many farmers, being a farmer is part of their fundamental nature. It’s who they are and they can’t imagine a time when they won’t be a farmer. Who hasn’t heard a farmer say they want to die farming? But the reality is that many farmers will need to exit the business whether they want […] Read more
Planning for retirement: Lifestyle versus finances
Reading Time: 3 minutes Farmers might not think about retirement often, if ever. But the sooner you start to think about retiring, you can minimize the impact of the adjustment when the time comes. A retirement plan should be part of the conversation when creating a succession plan. The emphasis of succession planning is typically on transferring the business […] Read more
Starting succession right
If you’ve resolved to start transitioning the farm this year, these insights can help you get a strong start
Reading Time: 7 minutes It’s no secret that many farm and ranch operations facing the prospect of transition to the next generation feel stuck and unsure how to proceed. “We can’t emphasize enough that retirement is a significant life transition that comes with a rollercoaster of challenges and emotions,” write Robert Laura and Colleen Drummond in the Modern Elder […] Read more
A message from April Stewart, Country Guide's Associate Editor
