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DTSTART;VALUE=DATE:20231201
DTEND;VALUE=DATE:20231202
DTSTAMP:20231101T172736Z
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UID:1209-1701388800-1701475199@laraonline.ca
SUMMARY:Finding Fairness in Farm Transition
DESCRIPTION:Farm transition is a difficult topic\, but it is a vital one for the long term sustainability of Alberta farms and Ranches. Northeastern Alberta is heavily dependent on agricultural production\, but over the last 20 years\, the number of active farmers in Alberta has dropped significantly while the average age of farmers has risen. Farm succession planning can be a significant source of stress on the farm and only 14% of farm families have a written succession plan. \nA transition plan that allows the current generation to step back from the day to day operations but not step out\, helps give founders and the next generation of farmers a clear path forward. It allows the farm family to move away from anxiety and overwhelm enabling them to chart a harmonious path forward to sustainability and increased profitability. \nLakeland Agricultural Research Association (LARA) is proud to be hosting Canada’s Farm Whisperer Elaine Froese to present her famous “Finding Fairness in Farm Transition” workshop. Through this workshop\, Elaine will give attendees tips and pointers for successfully working through the ‘undiscussable.’ Elaine is the go-to expert for farm families who want better communication and conflict resolution to secure a successful farm transition. \n  \nFAIR = Financial Transparency | Attitude | Intent | Roles \nWhat do you want your legacy to be? In this one-day workshop\, Elaine will work through considerations around: \nFinancial Transparency \n\nParents/founders are clear and sharing their desires for the future and their personal wealth situation.\nOpenly share the farm books and farm viability.\nDebt servicing – how much can the next generation really afford to service?\nWhat assets would be gifted\, rolled over or purchased?\nDoes your successor(s) want to farm with their siblings?\nHow will non-farming heirs be treated?\nRemember money does not equal love.\nWhat do parents owe their children?\n\nAttitude  \n\nWhat money scripts are you carrying around?\nDo you have a scarcity or abundance mindset?\nWhat does money mean to you?\nValues\, cherished beliefs will form the perspective from which you come to the discussions.\nEvery family member has a different relationship and history with money. It is important to speak about and understand those relationships to have more productive conversations.\nListen to the women’s stories in relationship to their farming siblings.\n\nIntent \n\nIntent is key for conflict resolution.\nWhat is each person’s intent\, what do they truly desire?\nIn farm transition there are many players\, founders\, successors\, non-farming heirs\, sibling groups\, in-laws and extended family including grandparents.\nWorking on the founder’s vision to ensure clarity around defining fairness.\nActively listening to all members intentions gaining clarity.\n\nRoles  \n\nRole expectations need to be clear for all generations.\nWhen do roles shift in the transition process?\nIs it fair (or reasonable) for an 80-year-old to be the majority shareholder with veto power?\nIs it fair for a 60-year-old next gen to have no power?\n\n  \n  \nSuccession Planning Resources\nSee below for some great resources to get you started on your farm succession planning journey. \n         \nFarm Family Harmony Podcast                               The Farm Transition Journey \n  \n  \nRegistration Details\nDon’t miss this opportunity to see Canada’s Farm Whisperer Elaine Froese in her famous one-day workshop “Finding Fairness in Farm Transition.” \nEarly-bird registration $55.00 per ticker. Deadline November 15\, 2023. \nRegular ticker price $65.00 per ticket. Deadline November 28\, 2023. \n  \nRegister by call (780) 826-7260 or click here. \n  \n  \nThank you to our partners and sponsors\n                     
URL:https://laraonline.ca/event/finding-fairness-in-farm-transition/
LOCATION:Smoky Lake Agriplex\, 4612 54 Ave\, Smoky Lake\, Alberta\, T0A 3C0\, Canada
CATEGORIES:In-Person
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