MYFB — Ep 22: What’s Fair is Not Always What’s Equal

“One day, this will all be yours.”

If this is the sum total of succession planning you’ve done as a farm owner, or if, as the son or daughter, you’ve heard this one too many times with nothing to show for it — the interview below is a must listen.

On this episode of the Mind Your Farm Business podcast, Jolene Brown, speaker, author, and family business consultant, joins Shaun Haney to talk about the definition of what is fair in a farm transfer.

What is fair is not always equal, says Brown, and the sooner everyone involved understands the concept, the sooner the discussion and planning of a successful farm business transfer can happen.

In the discussion below, you’ll hear the most basic of first questions farm parents must ask themselves, how “playing dead” can move a conversation forward, and why hope is not a business strategy (nor a relationship saver). Give it a listen, and be sure to share it with a friend or family member who likely needs to hear it from someone other than you.

Disclaimer: Royal Bank of Canada and its subsidiaries are not responsible for the information provided in this podcast, and this information does not necessarily reflect the views of Royal Bank of Canada or any of its subsidiaries. No endorsement of any third parties or their advice, opinions, information, products or services is expressly given or implied by Royal Bank of Canada or any of its subsidiaries.

 

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