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All in the family: Farm succession meeting draws packed house in Crossfield, Alta. Social Sharing

Reference: CBC News

More than 100 farmers and farm industry stakeholders packed a Crossfield, Alta., community hall this week for a workshop on farm succession — where farmers develop clear strategies to transfer their operations down to their kids when they retire.

Farm succession and estate planning expert Merle Good says his consulting firm holds about 24 of these workshops across the prairie provinces every year and interest has grown as more farmers near retirement and more of their kids are choosing to take over the family business.

If the plan is to keep the farm operation going and in the family, Good says that transition means family members also need to relate as business partners.

"So in our succession, it's not just about the assets, it's about trying to transfer the skills, the knowledge and the experience," said Good... Read More