Over 85 per cent of Canada’s farms don’t have a written transition plan in place, a fact that could put those operations in jeopardy when it’s time for an ownership change. A formal plan can help protect all parties involved in a farm transition, as it provides stability and minimizes disruptions and risks to the business.
Agriculture Financial Services (AFSC) wants to help ensure Alberta’s producers have the information they need to plan a successful transition path for their farm. That’s why AFSC, in partnership with Farm Management Canada and MNP, is presenting a one-day workshop on November 8 in Red Deer to help farm families as they work to transition the farm between generations.
“Succession planning is a long-term strategy to ensure there’s a plan in place for your farm’s future,” explained Darryl Kay, AFSC CEO. “Planning can help ensure the farm business continues to be successful, and the farm family continues to be a family.
“Planning for the future now will put you and your farm on the right track.”
The Bridging the Gap Workshop is designed to engage multiple generations working together on the family farm in meaningful discussions to better understand each other’s’ concerns and considerations for the future of the farm. It takes place November 8 at the Holiday Inn & Suites Red Deer South. The workshop runs from 8 a.m. to 4 p.m.
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