For many farm and ranch families, creating a succession plan can feel like reaching the finish line of a long and challenging process.

Running a multigenerational family business is no small feat. Passing on a successful operation where multiple generations are motivated to work, take risks and raise their families is yet another feat. But each is possible, even highly likely, by following this blueprint for motivating the next generation.

One of the key fears of aging farm founders is the conflict they anticipate when the farming heir has access to millions of dollars of land and the siblings who are off to other careers do not have the same net worth opportunity in their future. Or do they?

Grounded in faith and family while investing in the future, Aletta Holsteins followed an articulate succession plan. The family now operates two dairies and has expanded to poultry and hogs as well.

Succession planning is being addressed across the nation to help farmers and ranchers plan to pass down an operation to the next generation.

In agriculture, uncertainty is a constant challenge, from unpredictable weather patterns to fluctuating market conditions. However, these uncertainties should not paralyze decision making or delay essential long-term strategies such as succession planning.

In Olds, Alberta, not far outside Calgary, Harvie Ranching stands as a testament to the lasting tradition of family farming. For over four decades, members of the Harvie family have dedicated themselves to the production of top-quality cattle.

From COVID-19 to governmental policy changes to H5N1 avian influenza (bird flu) outbreaks, the unpredictable is coming at us at a faster and faster pace. When making your contingency and continuity plans, here are some of the key areas of preparedness you should consider.

Family business succession that builds family relationships and continues to perpetuate a successful business requires attention, time investment, deliberate planning and communication.

The modern agriculture landscape often calls for a more strategic approach – one that may involve identifying and grooming a non-family successor.