Reading Time: 4 minutes Keeping the farm in the family is something really special. But figuring out how to share it with siblings and cousins who want to be part of the business? That can get tricky. Especially if the farm is only so big and growth is limited. “Every farm and family dynamic is different, and the more […] Read more
When it looks like there aren’t many options for farm growth what’s a growing family to do?
Summer Series: Here’s how farm families can navigate a common sticky farm succession situation — and still want to have Christmas dinner together
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
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: Sharing your final wishes with family
Reading Time: < 1 minute Are you the child who knows more about what your parents have written in their wills? Are you worried that you’ll be the one left to explain your parents’ wishes to your siblings after your parents have died? If you want to avoid being the bearer of bad news, Patti Durand walks us through what […] Read more
Sell the farm or save the family legacy?
Summer Series: The growing sophistication of farm operations is reshaping farm transitions. And the unprecedented challenges these legacy businesses face demand our immediate and strategic attention.
Reading Time: 4 minutes For generations, Canadian farms have been more than businesses. They are the backbone of our national food security and rural economic infrastructure. They are also living legacies, passed down through families with pride, hard work and an intimate connection to the land. The transformation of Canadian agriculture over the past few decades has been revolutionary. […] 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
Diversifying the farm helps build a new business
Who has time to manage a bigger, more diversified farm? The Boldts found how to say, “We do!”
Reading Time: 11 minutes When Melanie Boldt pivoted her business from a grain farm to the first vertically integrated meat producer and market in Saskatchewan, she took a “just do it” approach and leaned into the challenge to change, diversify and expand her family farm. That was 26 years ago, and looking back, Boldt says she’s not sure she […] Read more
Legal considerations when transferring farm assets
Every farming operation is different and poses its unique challenges and considerations
Reading Time: 5 minutes The transferring of the land, buildings, equipment and quota that make up the farming operation can be thought of as the “meat and potatoes” of transition planning. Typically, once a plan has been developed for succession, there are assets that need to be transferred from one generation to the next. This can take the form […] Read more
A message from April Stewart, Country Guide's Associate Editor
