Producers plan for their farms' tomorrow
Posted By Angela Brown, The Daily Graphic
Updated 2 months ago
Death and dying are not the easiest subjects to get the conversation going in any situation, but when the future of the farm is at stake it is important to discuss the inevitable.
Farm succession planning was the topic for discussion at a seminar at William Glesby Centre in Portage la Prairie on Monday.
Elaine Froese, author of Planting the Seeds of Hope, made a presentation about the need for families to communicate their intentions and desires for the future of the farm as early as possible.
"The main thing with that is putting together how you want your business to transfer, which is your succession plan. (That) is different from how you want it to be when you die, which is your estate plan," she said.
The BDO Dunwoody event aimed to introduce farmers to the value of planning for their retirements and having a sound strategy for how their farm will be managed after they die.
abrown@cpheraldleader.com
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