Weeks can turn into months, and months into years when it comes to getting the ball rolling, and keeping it rolling, on a farm succession plan.
To simplify what can feel like an overwhelming project, the chair of the Winnipeg chapter of the Canadian Association of Farm Advisors (CAFA) recommends coming up with answers to three main questions. They revolve around readiness to relinquish control, willingness to transition to a business partnership, and the farm’s future viability.
Adam Pukalo, who also works as a commodities futures advisor with Ventum Financial, stopped by to chat following a panel presentation on succession planning at the 2025 CropConnect Conference in Winnipeg.
He suggests getting the key stakeholders in a farm succession plan together to answer these three questions:
- Are the current farm owners ready to relinquish control or decisions to their children?
- Are both parties prepared to transition from a parent-child relationship to a business partnership?
- Do they want the farm to continue as a family business or are they open to other options?
Find much more on farm succession planning in the Mind Your Farm Business podcast library.
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