A 72-year-old breeder, the CCA president and a 27-year-old rancher talk about what it takes to hand down a cattle operation.
Tag Archives family farms
VIDEO: Three Manitoba cattle ranchers on what succession planning really looks like
Mike Duguid sold his last herd at 72, Tyler Fulton took over a three-generation operation, and Connor English is building a path for his own sons — all three say the hardest part is the family conversation
VIDEO: The intergenerational gap on Canadian ranches
Depth of Field with Kelly Sidoryk
Think of the five people you spend the most time with, other than family. How many are either 10 years older or younger than you? Chip Conley with the Modern Elder Academy has been exploring this concept recently. “The Organization for Economic Co-operation and Development estimates that building multi-generational workforces, and giving older employees greater […] Read more
Ranch succession part 1: Sibling dynamics and ‘cousin consortiums’
Transitioning the ranch is complex enough with siblings. How do you do it when cousins are involved?
When it comes to passing the ranch down, the biggest obstacle may not lie between parents and children but rather between siblings. While researching this story, I learned that families are focusing on the next next generation and that “the cousin consortium” refers to a messy web of competing interests and unspoken expectations that can […] Read more
Family farms at risk from higher capital gains rates: GGC
[UPDATED: June 11, 2024] Glacier FarmMedia – Looming changes to Canada’s capital gains inclusion rates will increase average taxes by 30 per cent on the country’s family-run grain farms, putting their futures at risk, according to research conducted by the Grain Growers of Canada (GGC). “Our research shows that an average grain farm in Canada, […] Read more
Most farms lack a succession plan
While formal succession plans were rare for previous generations, the next generation of farmers and ranchers is pushing for them
On the second floor of the Queensbury Convention Centre at Agribition, the Grain Expo takes place every year. Around the edge of the room, booths are set up, surrounding the tables attendees sit at. Everyone sits watching the panel of producers walking onto the brightly lit stage. Steve Sanden and his son, Josh Sanden, are […] Read more
When the farmhouse crumbles part two: Protecting the farm’s legacy from divorce
What do farmers and ranchers need to consider before getting married, or during a divorce?
In my previous article, I wrote about things to be aware of when marrying into a family farm. But just as someone marrying into a family farm has things to consider, the farmer also has considerations before bringing someone into the mix. Today, most people believe that divorce implies that it’s a basic division of […] Read more
Minimizing family conflict on the farm
Focusing on communication, problem-solving and scheduling meetings are important steps in managing conflict
Business deals and family relationships are like oil and water. Under most conditions they don’t mix very well, and age-old wisdom is to keep them separate. Usually this is good advice, not because family members are poor risks as business partners, but because of additional challenges involved in complex relationships. But family farms don’t have […] Read more
Succession planning 101
The first step to succession planning is to call a family meeting
If you asked farmers and ranchers what keeps them up at night, besides markets and weather, many would say the succession plan or lack thereof. When is the best time to start the process? Similar to planting trees, 25 years ago. But the second-best time is now, was a comment made by a recent Entreleadership […] Read more
