Dan Doll: Leading Edge Conference

 

 

By using some poetic license on Dickens famous line: “ It could be the best of times, it could be the worst of times,” you come up with the overall theme of the Alberta Canola event: Leading Edge Farm Management Conference recently held in Red Deer.  Farmer retirement and farm transitioning are difficult tasks that all farmers eventually face; these are constants in an ever changing world, just like: “ death and taxes”.  BUT, this process does not have to be the daunting task that most people envision.  Alberta Canola put an excellent program together and brought in extremely knowledgeable speakers, which enforced the idea that with a well defined set of goals, a strong plan, a timeline for implementation, and sound professional advice, succession planning may actually be, an enjoyable, fulfilling, end of (full time farming) experience.

 

Keynote speaker, David Irvine focused his extremely moving presentation on the human and interpersonal nuances of successful succession planning.  He focused his talk on five pillars of a successful business and a successful succession plan.  In order for either of these to succeed, the following points must be in place between all the players involved:

Merle Good, a well known farm management consultant, Dean Gallimore, a chartered accountant with a wealth of experience, and Rob Strilchuk a long time tax adviser, covered the nuts and bolts and the many options that are available for a successful transition plan.  The good natured bantering between them as to what would work, was it legal, how is the accounting done and how would Revenue Canada view it, provided some humour, and stimulation in a serious, but often dry subject area.  They proved that not all consultants and accountants are boring.

 

Lawyer Tracy Hanson has been practicing law in the area of agribusiness for many years and just like professional athletes, all that practice has really made her a good lawyer.  Her presentations focused on the need for written legal documentation of all aspects of a succession plan, and a well written will.  She emphasized that wills are only part of a succession plan and not a substitute for them.  Tracy also kept Merle, Rob, and Dean in check as to whether any of their strategies could possibly land them or their clients offside in the view of Revenue Canada.