Roughly 88 per cent of Canadian farmers still don’t have a continuity plan, and that lack of preparation could leave families facing more than grief in the event of a death or serious injury.
That’s the warning from Derryn Shrosbree of 33seven, who joined Shaun Haney in this fourth instalment of a continuity planning series to talk about what might be the most neglected — yet critical — step in succession: documenting who gets what and when.
“Without a plan, you’re starting to farm for the government,” says Shrosbree, pointing to FCC data forecasting $600 billion in farmland changing hands in the next decade.
At the very least, farmers need a will, he says—and ideally two: a personal will and a corporate one, plus a designated power of attorney (POA). “The POA is key in case the combine doesn’t kill you but incapacitates you. Who makes decisions if you can’t?” Shrosbree cautions. He adds that POAs must be chosen carefully to avoid conflict of interest, especially in family-run operations.
It doesn’t have to be complicated, either. “You could do 80 per cent of your will in 30 minutes while in the cab,” Shrosbree says, adding that modern tools allow for virtual meetings and simple Q&A-based drafting. What matters most is making sure it’s recorded and accessible—ideally with multiple sealed copies shared with key advisors.
Above all, the goal is to protect family relationships. “Why farm if your family gets torn apart because of a lack of communication?” he asks. Putting wishes in writing may feel uncomfortable, but it's a practical and powerful step in stewarding the farm’s future.
Check out the first three episodes of Continuity Conversations by tapping here
