When we think about the threat to family farms we might talk about industry consolidation, farm commodity depreciation, access to qualified workers, rising input costs or market volatility. All of these things are threats to the survival of Canadian family farms but maybe the biggest threat was not included in this above list.
In my opinion one of the greatest threats to family farms is our inability as an group to properly manage family farm succession. One of the the questions that I hear the under forty bracket asking is when is the best time to address the issue with my parents? Is there actually a best time to start talking about the farm’s succession plan? Is there a way to address the topic with your family so that things get off to a great start and don’t get derailed by hurt feelings and wounded egos?
I asked my good friend Elaine Froese to talk about when is the right time to start talking about family farm succession planning and the best way for everyone to approach the topic.
If you cannot see the below interview with Elaine Froese, Click Here