The Successors is a RealAgriculture podcast series hosted by Kara Oosterhuis focusing on agriculture from the perspective of the up-and-coming generation. How can you provide mentorship to those around you? What can you do to get that succession conversation going on the farm? Why do you sometimes need to take a step back and evaluate... Read More
Category: Succession Planning
I've been having this conversation a lot lately, as I'm sure many of you have been too — I'm not sure how we're at the end of December already. Although the last couple of weeks have shown some true winter temperatures, it has been abnormally warm (and dry) in my area, which I'm convinced has... Read More
Bill C-208, an act to amend the Income Tax Act, received royal assent in June of 2021. The act, which governs the rules and regulations regarding the transfer of agriculture businesses between family members, was applauded by many in the farming industry. Farm business advisors and accountants might be telling farmers and ranchers that changes... Read More
One challenge that many farmers face is how to pass the reins of an operation to a successor and how to get out of the way, but not go away. Dick Wittman learned plenty of valuable lessons managing a family-operated 20,000 acre crop, cattle, and timber operation in northern Idaho. He now heads Wittman Consulting,... Read More
A strong legacy component to a farming operation can often make choosing who will take over the farm a difficult decision. Renee Wiatt, family business management specialist with Purdue University's agricultural economics department, talked succession planning with RealAg Radio host Shaun Haney, as part of Farm Management Canada's Agricultural Excellence Conference. "Farming is a very... Read More
The Successors is a RealAgriculture podcast series hosted by Kara Oosterhuis focusing on agriculture from the perspective of the up-and-coming generation. How do you separate business from personal when you live and work with your spouse? What are some of the things you can do when you're the newcomer into an operation? Why is planning... Read More
Change is everywhere in farming and often everything seems to be in flux, whether it's markets, trade relationships, weather, or family relationships. Depending on the circumstances, farmers react differently to change says Heather Watson, executive director at Farm Management Canada (FMC). "Some people see that as unwelcome and unnerving; others see it as an opportunity... Read More
It would seem that no one has ever told the Jochums that "too many cooks spoil the broth." Günter, Crystal, and daughter Fiona Jochum farm together just west of Winnipeg, Man. But they don't just farm as a family, they also farm with Gunter's brother-in-law. All told, there are a number of managers, and Günter…Read More
When different generations work together in the farm business, conflict can arise over responsibility, ownership, succession, and day-to-day operations of the farm. Justin Funk, managing partner of AgriStudies, has done extensive research on what makes intergenerational farms unique in how they operate. In this Mind Your Farm Business podcast, Funk shares how differences in doing…Read More
The Successors is a RealAgriculture podcast series hosted by Kara Oosterhuis focusing on agriculture from the perspective of the up-and-coming generation. What does it take to successfully farm with your family? How do you tackle multiple roles on the farm, and involvement with commodity groups? Why do we need to celebrate the successes in years... Read More