The direction that a farm family’s succession planning takes will often be determined by the retiring parents’ future plans
Fall is usually when the phone starts to ring and farmers want to talk about succession, transition or sale, says Curtis Palichuk, managing partner of Wilde Advisory Group in Vegreville, Alta. When farmers come into the accounting office weary from harvest, they are reminded that the best farm transition and succession is a process that […] Read moreAfter the Farm
Beach or barn? Depends on the retirement plan
Fall is usually when the phone starts to ring and farmers want to talk about succession, transition or sale, says…
Farmer brought governance skills to the table
CAMROSE, Alta. — Health rather than a grand retirement plan pushed Ed Gaudet away from the farm he loved. “I…
Alberta producer keeps on driving
GIBBONS, Alta. — The road to Kevin Sustrik’s farm retirement is driven with a luxury limousine. During the summer, Sustrik…
Must Reads
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Farmer transitions from milk to drones and beer
Two years ago, Milt and Tash Olfert decided to sell their dairy cows and quota and leave the dairy business.…
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Feedlot transition takes many steps
LETHBRIDGE, Alta. — Les Wall has ownership in three feedlots and a desire to retire, so the Wall family knew…
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Malt keeps the wheels turning
NEW NORWAY, Alta. — Low prices and a busy off-farm job convinced Dean Durand to sit down with his parents…
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Retirement decision day: why wait any longer?
Carlyle, Sask. — A week after Trevor and Nickie Doty held their farm equipment sale they were on a flight…
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Keep the farm together or pull it apart?
At the end of October, Clint Fischer, an American farm estate and succession plan lawyer, posted the following comment to…
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No regrets, and no more anxiety
STROME, Alta. — It wasn’t until Ray Lestus grew his last crop and sold his farm machinery that he realized…
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Farmer brought governance skills to the table
Alta. man started in pharmaceuticals while also putting together a farm that he will pass on to his daughter and son-in-law
CAMROSE, Alta. — Health rather than a grand retirement plan pushed Ed Gaudet away from the farm he loved. “I got off the combine Oct. 2, 2023, and two days later I was old. I was shuffling and a little faint in the head and walking kind of funny,” said Gaudet, 84, of Camrose. “That […] Read more
Alberta producer keeps on driving
From operating a bale wagon to driving a limo, this farmer stays on four wheels as he charts journey into the future
GIBBONS, Alta. — The road to Kevin Sustrik’s farm retirement is driven with a luxury limousine. During the summer, Sustrik spends most days on his silage harvester, travelling around central Alberta doing custom silage work for other farmers. On the weekends, he drives brides, grooms, concert goers and high school graduates in his luxury coaches. […] Read more
Farmer transitions from milk to drones and beer
Milt and Tash Olfert leave the dairy business and start two new ventures: one in the air and the other in the brewery
Two years ago, Milt and Tash Olfert decided to sell their dairy cows and quota and leave the dairy business. The southern Manitoba couple ran a dairy until their two children were in their 20s and could decide whether they wanted a farming career. “We could tell when they were in high school the interest […] Read more
Feedlot transition takes many steps
Family hopes to make process smoother by using a business tool, hiring a facilitator and holding weekly team meetings
LETHBRIDGE, Alta. — Les Wall has ownership in three feedlots and a desire to retire, so the Wall family knew they had to get serious about succession planning. The family spent years planning and thinking about the future, and then took a giant step forward by joining EOS Traction, a business tool designed to bring […] Read more
Malt keeps the wheels turning
NEW NORWAY, Alta. — Low prices and a busy off-farm job convinced Dean Durand to sit down with his parents in 2005 and question why they were still farming. “Canola was priced at $6 a bushel and barley was $2 and it didn’t make any sense. It was a tough one. We sat down at […] Read more
Retirement decision day: why wait any longer?
A post-harvest vacation from their grain farm helped give a farm couple the perspective and distance to make a decision
Carlyle, Sask. — A week after Trevor and Nickie Doty held their farm equipment sale they were on a flight to Mexico. “Right now we’re sitting in the kitchen of our condo looking out at the Pacific Ocean. It is beautiful here. Our aches and pains are all gone,” said Trevor of Carlyle, Sask. The […] Read more
Keep the farm together or pull it apart?
Farm transition, succession or estate plan is difficult, but posing scenarios or telling stories helps guide the discussion
At the end of October, Clint Fischer, an American farm estate and succession plan lawyer, posted the following comment to his X account. “You’re presented an opportunity to work for a retiring farmer and own the operation over time. What are your concerns? Not free, you’ll be buying into the operating entity at a discount. […] Read more
No regrets, and no more anxiety
STROME, Alta. — It wasn’t until Ray Lestus grew his last crop and sold his farm machinery that he realized how much anxiety he felt when he was farming. “The worries. You don’t realize how much you worry about everything,” said Letus. In the last few years, it was his job to race around fields […] Read more
Best transition plan is one that is implemented
Many farmers spend a lot of time developing what they think is the perfect plan but remain hesitant to put it into action
BRANDON — Farm families don’t need the best farm transition plan, they need the second best plan, said a farm management consultant. “Second best doesn’t sound very good. Nobody wants to be second, but if it means it is an implemented plan, then that is better. An implemented plan that gets changed and tweaked as […] Read more
