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Episode 129: "Transition Planning, The Underlying Issues" w/Art Lange
In this week’s episode, we speak to Art Lange about “The Underlying Issues” regarding transition planning.
Are you ready for some real talk about why transition fails to get started? If so, you are in the right place.
More often than not, it’s not things like taxes and wills that cause the senior generation to stall and avoid the subject. It’s rarely that. It’s often all the stuff that we don’t want to talk about…”The Underlying Issues,” and that is precisely what we are going to chat about today.
In this episode, Tracy and Art discuss:
- They discuss the three biggest obstacles for founders. Are you not getting anywhere with the founders of your farm? It’s likely one of these three reasons.
- They discuss what happens if a family starts doing transition planning, and then it goes downhill into arguments and ill will. What then? Art provides some great suggestions.
- Art shares how to deal with founders that refuse to discuss the subject.
- We chat briefly about the five triggers of transition planning and why it’s critically important to plan before any of these triggers occur.
If so, this episode is for you. Whether you are a farm founder or the next generation looking to take over the farm, this episode is for you.
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* Disclaimer - As always, this information is not intended to provide business or medical advice. To ensure that your own circumstances have been properly considered and that action is taken based on the latest information available, you should obtain professional advice from qualified business or medical professionals before acting on any of the information in this post.
Find a Farm Transition Advisor on CAFA website: https://www.cafanet.ca
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Thank You To Our Show Sponsor
Here at The Impact Farming Show, our goal is to bring our audience the people and ideas that will IMPACT their farming operation. We couldn't do it without the continued support of our sponsors that are committed to supporting our show and our shared vision of helping farmers succeed.
Please take a moment to check out this week's show sponsor: Bayer Crop Science
There are a million things you love about farming. But spraying for weeds in your cereal crops is probably not one of them. That’s where we come in. You can be confident our line-up of proven cereal herbicides work to manage tough to control weeds for cleaner fields acre after acre. So you can do what you do best. Get back to farming. Get back to what you love.
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Show GuestArt Lange P.Ag., CAFA
AJL Consulting - Farm Business Management Consultant
The principal in AJL Consulting is Art Lange. He graduated from the University of Alberta with a B.Sc. (Ag) with an Animal Science major. Art has worked in many facets of the agriculture and food industry in Alberta and B.C. for almost 40 years. Those include stints in the farm machinery industry, feed industry, inspection work with the federal government, living and working on a hog farm, and selling veterinary medicines for a multi-national drug company.
Art worked for Alberta Agriculture for 20 years in the pork production area. For his last two years with the department Art coordinated groups of agri-industry people that were part of the Ag Summit process.
In April of 2004 Art started his own consulting business called AJL Consulting. From 2004 to 2009 he was a rostered farm financial consultant for the Canadian Farm Business Advisory Service (CFBAS) which was administered by Agriculture and Agri-Food Canada. Under that program, Art completed about 100 farm business plans. Since 2009 he has been concentrating on developing business plans for food processors and preparing farm succession plans. In total Art has completed over 200 farm business and succession plans and thus has a wide variety of experience in addressing most farm business opportunities and challenges.
The Impact Farming Show
Welcome to Impact Farming, Farm Marketer's video and audio show dedicated to helping Canadian farmers excel in the business of farming. Our goal with this show is to introduce our audience to the people and ideas that are going to make an IMPACT on their farming operation.
Show Host - Tracy Brunet
CEO of Farm Marketer
Tracy and her husband are cattle ranchers in South East, Manitoba. As host of the show, primary producer and agvocate, Tracy is passionate about helping farmers succeed in the business of farming.
In each episode, Tracy chats with today's most successful farm advisors and industry leaders to bring our audience the best and most important ideas.