Farm transition and succession planning are two of the most avoided yet critical discussions for family farms.
In this candid and solution-focused episode of the Mind Your Farm Business podcast, host Shaun Haney welcomes back renowned farm family coach and author Elaine Froese to break down the roots of procrastination and explore how to move forward without compromising relationships or the farm’s future.
From avoiding conflict to invoice fatigue, Elaine and Shaun dive into why conversations stall and what can be done to create progress—even when things feel stuck. If your family keeps putting off “the talk,” this episode is a must-listen.
A summary of this episode:
- Common culprits: procrastination and avoidance. Why “after seeding/harvest/Christmas” keeps getting in the way of planning for the future
- Three keys to start: income stream, housing, fairness
- Elaine outlines the critical questions every family must ask before creating a succession plan
- Why clarity is kind
- How being open about your goals, fears, and timelines opens the door to action
- Family finances: asset-rich, cash-poor
- Understanding the imbalance between farm assets and personal wealth—and how it limits transition options
- Encouragement for families to assess both emotional and practical roadblocks to change
- When work ethic clashes with transition timing
- Generational differences around “earning it” and why it’s time to break the suffering cycle
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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