Reading Time: 6 minutes For centuries, it worked for royalty. If you happen to be the first-born son, you were on the path to the throne, no questions asked. And it happened on the farm too. The eldest son was automatically in line to take the reins when Dad got old enough that he needed to step aside. Increasingly, […] Read more
The first-born quandary
What if your eldest son isn’t actually the best choice to lead your family farm into the future?
Succession shocker
The percentage of farm families with a succession plan is going down. That’s right —DOWN! — even though those same families still see succession planning as crucial to success
Reading Time: 4 minutes The day I caught up with famed farm family coach, Elaine Froese, she had already had two conversations with families who cannot bring sibling partners to the table. Phrases like “avoidance of conflict,” “bullying” and “silence is a form of violence” tumble out of her. “Procrastination and conflict avoidance are the root of the issue […] Read more
Young and old
The farm version of the generation gap means that succession talks on many farms stall before they even get a fair chance to start. Here, adviser Delores Moskal shares her ideas for seeing eye to eye
Reading Time: 6 minutes When it comes time to put succession planning on your personal agenda, there are only a couple of ways for it to go, says Delores Moskal. There are the parents who are open to talking succession with the next generation. And then there are parents reluctant to even broach the subject with the kids. So […] Read more
Get off to a better start with farm succession
Here’s advice from Merle Good on how to let the business lead the conversation toward your farm succession plan
Reading Time: 6 minutes John F. Kennedy’s historic words, “… ask not what your country can do for you, ask what you can do for your country,” may also contain the wisdom needed to solve the complexities of today’s family farm successions. Too many young men and women are starting their discussions about the path to farm succession by […] Read more
Plan before you retire
Whether you’re selling or if you’re transferring farm assets to the next generation, tax-smart retirement takes planning… and time
Reading Time: 10 minutes In 2011, 48 per cent of Canada’s farmers were 55 years old or older. Five years earlier, the number had only been 41 per cent. If you draw a straight line, that means 55 per cent of farmers are now 55 or older. And it also means our median age is approaching 65! Whether that’s […] Read more
Never too young to talk about farm succession
As the Ellis family is learning, there’s no such thing as too soon for starting the conversation about farm succession
Reading Time: 7 minutes Lincoln Ellis has just got his first taste of combining. “He thought it was pretty interesting for the first 10 minutes, and then he realized how small the combine cab was, and that was about it,” says his dad, Simon Ellis, with a chuckle. “So it was short-lived, but you know, small steps for now. […] Read more
Succession planning: Preparing for takeoff
How one Manitoba family's farm business succession plan is taking flight
Reading Time: 9 minutes Case Study Objective Four children in their late 20s and early 30s, all want to be part of this family farm and aerial spraying business. First Step The Parsonage family transferred ownership before operational management. The parents had used some of their capital gains exemption earlier when buying out of partnership, and about that time […] Read more
One Ontario family’s joint path to farm succession
“Succession planning here is like hitting a moving target,” says Jim McGregor, but it’s also the family’s greatest opportunity
Reading Time: 8 minutes A mile from the Ottawa River, the McGregor family has lived and farmed, and they have loved and built for five generations, to the point where their produce business has mushroomed to 15 stands, a pick-your-own business and four farmers’ markets. Theirs is a story about embracing change, and about how, in the midst of […] Read more
A team approach to farm succession
Getting their advisers to meet and work together as a team is helping drive the Tilstras’ succession planning
Reading Time: 7 minutes When Ted Tilstra imagined his retirement, he knew that he wanted it to continue to include having a coffee around the kitchen table with his brother and nephews. Tilstra Bros. have been running their parents’ dairy farm in Dunnville, Ont., for nearly 25 years. Together Don and Ted are milking 100 purebred Holstein cattle and […] Read more
Inheriting the family farm as a gift
Succession in Agriculture: High land prices are driving innovation in how to distribute your land
Reading Time: 6 minutes Farming without some startup help from your family can definitely mean an uphill climb. But getting the gift of a farm inheritance isn’t always such a blessing either. Many farmers will tell you it would have been impossible for them to get started in the business if it hadn’t been for a “hometown discount” from […] Read more
A message from April Stewart, Country Guide's Associate Editor
