What are the key steps that farm families need to consider when developing a farm succession plan? It’s a looming question for many farm families right now. To help in the process, the Agricultural Management Institute (AMI) has produced a new farm succession video series, viewed from the kitchen tables of Ontario farm families as they explore the issues that make or break their farm succession plans.
Each week for the next five weeks RealAgriculture.com will premier a new video from the series featuring farm succession advisor Len Davies and families he’s worked with to develop successful farm succession plans.
In this video, Davies takes us to the Foster family farm in Carleton Place, Ontario where we meet Jim and Lynda Foster.
“The Fosters really are a textbook case,” says Davies. “They are good communicators, set goals and are ready for succession. They also have a defined process and are committed to making succession happen.”
“This series provides a unique perspective on the challenges farmers face when tackling farm succession,” adds Ryan Koeslag, Executive Director of AMI. “When it comes to farm business management, succession is one of the most difficult tasks. This series will be a valuable resource for farmers who need to develop and execute succession plans.”
If you cannot see the embedded video, click here.