For 20 years, Len Davies has been helping Canadian farm families develop and implement farm succession plans. Over two decades, Davies and his Ontario-based Davies Legacy Planning Group have helped 600 farm families navigate the succession process. Farm Management Canada acknowledged Davies’ efforts by awarding him the 2019 Wilson Loree Award at its recent Agricultural… Read More

Despite armies of well-meaning accountants, bankers and consultants urging them to do so, many Canadian farm families don’t have a plan in place to transfer ownership between generations. It could be the word succession that’s getting in the way. This can imply an abrupt change, when the older generation is booted out to pasture and… Read More

“Farm succession is a journey, not an event.” That’s the key message farm succession expert Len Davies has for farm families in the final episode of Agricultural Management Institute’s (AMI) new five-part video series. In the earlier episodes, four farm families shared their personal insights on what made their farm succession plans work. In the final episode,… Read More

Many farmers consider the farm to be their retirement nest egg. Of course the farm will play a significant role in funding retirement, but relying solely on farm assets can create challenges when it comes to farm succession. “You can run into trouble if you put all your eggs in one basket,” says farm succession… Read More

Succession Saga Part 3 - Your Exit Is All About Timing in the Family Business

By Dick Haney Whether You are Entering or Exiting a Business as General Manager, Timing is Everything. “You got to know when to hold’em, know when to fold’em, know when to walk away, know when to run.” Probably many of you have identified these words as part of a song written by Kenny Rogers called… Read More

When is the Right Time to Start Talking About Family Farm Succession? - Elaine Froese

When we think about the threat to family farms we might talk about industry consolidation, farm commodity depreciation, access to qualified workers, rising input costs or market volatility.  All of these things are threats to the survival of Canadian family farms but maybe the biggest threat was not included in this above list. In my… Read More

Intergenerational wealth transfer or succession planning can be a daunting task, but if started early and included as a regular part of financial check-ups, it doesn’t have to be. Trent Hamans, vice president of private banking and wealth planning with ATB Wealth, likens wealth transfer planning to creating a good meal. “Having successful intergenerational wealth… Read More