Mind Your Farm Business — Ep. 60: Unconventional succession planning


Farming with family can be rewarding, and also stressful.

Transitioning a farm’s ownership from one generation to the next can be emotionally-charged and high stress, but would it be easier or any different if you were selling the business to a non-family member?

Dick Wittman of Wittman Consulting says that many farmers may feel as if they’ve failed in some way if one of their children don’t want to take on the family farm.

But the farm career and investment vehicle you built was your dream — not necessarily one of your children’s.

Wittman says we need to challenge this idea that a lineal heir is a measure of success. Still, there are instances where selling the farm as a whole business and property is still the goal.

To navigate unconventional farm succession, Wittman says all owners and family members should open up the lines of communication to discuss what the vision for the farm transfer may look like. Whether the farm is sold to a long-time, loyal employee, the neighbours, or young upstarts through a mentorship, an unconventional succession can still be successful.

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.

Wake up with RealAgriculture

Subscribe to our daily newsletters to keep you up-to-date with our latest coverage every morning.

Wake up with RealAgriculture

Please register to read and comment.

Privacy Preference Center


Necessary cookies help make a website usable by enabling basic functions like page navigation and access to secure areas of the website. The website cannot function properly without these cookies.

gdpr, __cfduid, PHPSESSID, wordpress_test_cookie, woocommerce_items_in_cart, woocommerce_cart_hash, wp_woocommerce_session, wordpress_logged_in, wordpress_sec, wp-settings, wp-settings-time, __cf_mob_redir, wordpress_cache, realag


Measuring interactions with the ads on the domain.



These are used to track user interaction and detect potential problems. These help us improve our services by providing analytical data on how users use this site.



Preference cookies enable the website to remember information that changes the way the website behaves or looks, like your preferred language or the region that you are in.

chartdefaults, comment_author, comment_author_email, comment_author_url
JSESSIONID, _os_session,anonymous_votes,csrf-param,csrf-token,user,user-id,user-platform,intercom-session,intercom-lou,intercom-session
personalization_id, tfw_exp


Register for a RealAgriculture account to manage your Shortcut menu instead of the default.