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Tag Archives succession planning

Senior couple gazing out over farmland, late summer.
Columns

How to keep legacies fair for non-farming kids as land values soar

Parents worry their bequests will not be fair due to the appreciation in land prices

By
In southern Manitoba, a farming couple we’ll call Bob and Suzy (not their real names) are, at their respective ages of 82 and 80, approaching full retirement. They have one son who farms and two daughters who have city jobs. The children are in their 40s. Bob and Suzy are contemplating posterity and are eager […] Read more
Your attitude about conflict needs to be positive, knowing that positive conflict behaviours are going to help everyone get what they want.
Farm Life, FarmLife

Froese: Transition planning does not have to be tough

Transitioning management and ownership of a farm business is a journey that begins with taking that first step

By
Susan Forward, author of Emotional Blackmail gave me a key phrase for coaching that is life changing. She used the term, “Where is it written… (insert issue)? As a farm family coach who is currently in her third succession/transition journey, I would like to challenge you with, “Where is it written that transition planning has […] Read more
If you want the farm to continue and keep the legacy going, then the farm succession process must begin while you are still alive, with a sound mind and body.
Features

Succession plans: address the underlying issues

How to begin or become unstuck

By
Many articles have been written about farm succession or farm transition as it is more recently called. I think it’s time to look at some of the underlying reasons why this can be a difficult process. I base my comments on my work as a farm business and transition consultant for 17 years as well […] Read more
Froese: ‘Shutdown’ insights to get folks to the transition table to talk
Farm Life, FarmLife

Froese: ‘Shutdown’ insights to get folks to the transition table to talk

Knowing some of the reasons why people shut down is good start to communication

By
The winter is cruising by and you are wondering if you are ever going to get a communication breakthrough to figure out “The Plan” for the future of your family and your farm. You might be the aging founder, the frustrated successor or the curious non-farm sibling. Whatever role you play, this scenario is impacting […] Read more
Get clear first on the expectations of your family circle BEFORE you start listing your needs and wants with your advisers.
FarmLife

Froese: Hiding behind your advisers

Don’t expect your team of advisers to create a transition plan before you engage with the family

By
I just heard an estate planning lawyer, Chris Delaney mention that he is seeing farmers “sheltering in the tactics” rather than embracing what I call the “emotional factors affecting planning.” Delaney is the author of The Naked Opus, a novel approach to estate planning. It’s a very good read. Please understand, the foundation for great […] Read more
Alison Anderson, the director of Succession Matching.
Farm Life, FarmLife

How to find a successor for your farm

If you don’t have anyone interested in taking over the farm 
Succession Matching may be able to help

By
It often happens at my succession communication seminars that a weary farmer approaches me with a problem. “Elaine, we don’t have a successor for our farm.” The look of worry and wear on their face makes me want to just sit and listen to their story. When I spoke in Biggar, Saskatchewan a few years […] Read more
Which shade of control is blocking your farm transition?
FarmLife

Which shade of control is blocking your farm transition?

One lawyer suggests there are four different types of control that need to transfer

By
Elaine, Dad just won’t give up control!” is a common frustration with the next generation trying to navigate into management and ownership. Ottawa-based lawyer Denis Sicotte presents an interesting concept; he calls it “shades of control,” meaning there are four different types of control that need to transfer: 1. Operational Control: The operations, daily decision-making, […] Read more
two farmers walking together
Features

Five habits for a successful farm succession

Unresolved conflicts destroy family businesses. Plan ahead to help your family through the farm succession minefield


By
Dr. John Fast, a business planning consultant, bills himself as “The Family Business Doctor.” Judging from the size of the crowd at his talk at this year’s FarmTech Exhibition in Edmonton, lots of farmers are seeking his prescriptions. His presentation, “The Ultimate Management Challenge: Succeeding At Succession,” addressed one of the most difficult parts of running a family […] Read more
Men watching a sunset
Columns, Crops

A look back and a step up

When the next generation moves home to the farm, it’s a time for change and role re-evaluation

By
I am somewhat late for the season of “year in reviews,” so I thought I’d do one better and review, briefly, my last three years on the farm. In May 2015 it will be four years since I moved back to the farm, so I’ve been through four crop seasons. When I moved back to […] Read more
Good communication is key to a successful farm transition
Columns

Good communication is key to a successful farm transition

Finding common ground is a good way to move things along as long as both parties buy in

By
This is the final part of our series on succession. We’ve looked back over the last 10 years identifying successes and messes that we’ve witnessed in business transitions. From here we developed an extensive list of reasons why those transitions were successful or what caused them to go off the rails. We grouped this list […] Read more

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