Farm Succession and Transition Planning

Why is succession planning a priority?

Huron County is the most agriculturally productive County in Ontario, with 2,564 farms controlling total capital assets of over $12.2 billion. Yet only 14% of farm families have a written succession plan. That leaves over $10.3 billion dollars of capital unprotected by written multi-generational agreements. With the median age of farm operators being 57 years of age, this leaves Huron’s top sector in a vulnerable position.

Farm succession planning has been noted as a top stressor in multi-generational farm families. Stressors include:

  • Loss of control
  • Fear of failure
  • Loss of purpose
  • Loss of wealth
  • Family friction

However, as families procrastinate and avoid succession planning, these fears become a reality.  A transition plan, where the current generation can step back but not step out, helps give founders and the next gen farmers a clear path forward; a sense of security creating certainty around transition. It allows the farm family to move away from anxiety and overwhelm enabling them to chart a harmonious path forward to sustainability and increased profitability.  Asking powerful questions about what you want for the next chapter of your farm will help you reach your goals. 

Finding Fairness in Farm Transition

Farm succession is a tough topic, but it is vital. We are excited to welcome Elaine Froese, Canada’s Farm Whisperer, to Huron County for her famous one-day workshop: Finding Fairness in Farm Transition. Through this workshop, Elaine will give attendees tips and pointers for successfully working through the ‘undiscussable.’ Elaine is the go-to expert for farm families who want better communication and conflict resolution to secure a successful farm transition.

Don’t miss this chance to see Canada’s Farm Whisperer in person on Thursday, November 16 from 9:30 am – 4:30 pm. Click here for tickets!

In the Finding Fairness in Farm Transition workshop, you will:

  • Identify your key challenges, such as decreasing anxiety over the uncertainty of your future and share them with your farm family.
  • Understand what communication style helps you be understood and the style you use.
  • Learn new language and questions to help you get clarity of expectations, certainty of timelines and agreements and a commitment to action.
  • Be aware of your positive conflict behaviour and how to create solutions for transition plans 3 key issues: income streams, housing, and fairness. Prior to the session, you can complete a Conflict Dynamic Profile.
  • Navigate conversations about fairness by having financial transparency and sharing your intentions around the transfer of your wealth.
  • Create a timeline for action on all the pieces of the transition: communication plan, estate plan, financial plan, business vision, conflict resolution strategy.
  • You will not be given tax advice as Elaine is not an accountant, she’ll help you with more tools for finding harmony in communication and conflict resolution.
  • Know which advisors you need to pull in to find out the income stream from the farm and from your personal wealth bubble.

1:1 Laser Coaching Sessions

Need some one-on-one coaching? No problem. Elaine and her staff are available on November 17 for 1:1 Laser Coaching Sessions. Limited spaces available. Reserve your spot by selecting this option during your ticket purchase.

Save the Date!

There will be a follow-up farm transition planning webinar with Elaine Froese on Feburary 29, 2024. Stay tuned for more details!

Finding Farming in Farm Transition. November 16 from 9:30 am - 4:00 pm in Goderich, Ontario.

Register Now!

Early Bird Tickets: $65 each. Deadline: September 30, 2023. Tickets: $75.00 each. Deadline: November 2, 2023.

Click here to register for the Finding Fairness in Farm Transition workshop.

1:1 Laser Coaching Sessions

Book a 1-hour, 1:1 Laser Coaching Session on November 17 for an additional cost of $350 per session. Limited spots available. Reserve your spot today!

Farm Transition Planning – Educational Resources

The Huron County Economic Development Department is gathering thought-provoking information for farmers to help move them to productive transition conversations and action. 

Podcasts

See below for various podcast collections that can help you start or continue thinking about the future of your farm.

Huron County Podcast - Coming Soon!

Huron County Podcast - Coming Soon!

Stay tuned for a brand new podcast about life and business in Huron County! The inital episodes will be a series on farm transition planning – why it’s important, the cost of not having a plan in place, and the perspectives of the mother, father, in-laws, and the next generation.

Farm Family Harmony Podcast

Get personal with Elaine Froese, Canada’s Farm Whisperer, in Farm Family Harmony, where no farm topic is taboo! Whether it’s which sibling gets the family farm, or when it’s time to tell Mom and Dad to respectfully change roles, Elaine covers the crucial conversations every farm family needs to have.

Farm Succession Planning Playlist

Farm Succession Planning Playlist

The Huron County Economic Development Department is gathering thought-provoking information for farmers to help move them to productive transition conversations and action. This is a curated playlist of podcasts, largely featuring Elaine Froese, Canada’s Farm Whisperer.

Additional Resources

See below for various resources from crediable sources that can support a successful farm transition.

Ontario Ministry of Agriculture, Food and Rural Affairs (OMAFRA)

Visit the OMAFRA website to learn about the importance of farm succession planning and how to create a succession plan for your farm. This information is for commercial livestock and crop farmers in Ontario.

Farm Credit Canada

FCC Advisory Services is a complementary program designed to help farm families gain clarity, identify goals and determine the next steps in their transition journey.

Their national team of Business Advisors is here to listen and ask the important questions. We can help you start the conversation, define goals and intentions, eliminate barriers and explore options.

Visit the Farm Credit Canada website for articles, videos and more to set you up for success.

Guest Speaker: Elaine Froese, Canada’s Farm Whisperer

Elaine Froese (pronounced ‘phrase’), CSP is a certified professional speaker, certified coach, and author. She’s a go-to expert for farm families who want better communication and conflict resolution to secure a successful farm transition.

  • As a farmer and mother to the successor of their farm, she understands the culture of agriculture intimately.
  • Her superpower is helping families find harmony through understanding.
  • Her expertise is to discuss what she calls the Undiscussabull™ – the bull in the middle of the farm family that no one wants to talk about.
  • She is an award-winning author who’s written 5 books over the past 25 years.
  • Elaine will not give tax advice as Elaine is not an accountant. She’ll help you with more tools for finding harmony in communication and conflict resolution.
  • Elaine’s passion is to share simple, practical and actionable tools with farm families so they can talk about tough issues and get traction in their farm transition. Her topics are a catalyst to courageous conversations and conflict resolution. Expect her to WOW audience by bringing clarity with workable and practical tools.
  • She’s on a mission to guide farm families, across North America, to get unstuck, communicate better, find harmony through understanding, and secure a profitable farm legacy. Elaine’s goal is for everyone to be rich in relationships.
Elaine Froese Headshot

Thank you to our sponsors!

Finding Fairness in Farm Transition Event Sponsors - County of Huron, Ontario, Hensall District Co-Op, Scotiabank, Goderich Print Shop, Blackburn Media

How Can We Help?

Huron County is always excited to support new and innovative ideas and businesses.
We’re here to help!

Find Us

57 Napier Street,
Goderich, ON N7A 1W2
Canada

Phone

+1 (519) 524-8394 ext.6