Farm Family Succession in the 21st Century
Richard James Cressman
University of Guelph, 2000
Table of Contents
The Progression of Farm Succession
Thirty Years of Changes from 1970 to 2000
The Entrepreneurial Spirit of Farmers
Why Are These Succession Issues More of a Concern Today Than in the past?
Why Spend So Much Time Examining Land Ownership?
Are Farm Families Different from Their Urban Cousins?
Assessment of Succession Planning Programs
Will the Family Business Center Model Work in the Farm Community?..
Farm Succession Programs in the USA
Farm Succession Programs in Canada
Research in the Field of Succession Planning
This project is an investigation of the issues surrounding Farm Family Succession as we enter the 21 st century. The concept of inheritance through land ownership is explored as to how it has impacted both the culture and traditions of farm families. The present interest in farm succession is due partly to the large group of farmers who began their careers approximately 15-35 years ago.
The concept of using Family Business Centers to help facilitate succession is explored in an agricultural context.
Succession planning includes traditional estate planning along with addressing the issues of interpersonal human dynamics. This paper is an overview of how the present cohort of farmers and their advisers can bring the future generation of farmers into the agricultural industry.
Farm Family Succession in the 21 st Century 2 contents
They are numerous individuals whose contribution to this project is much appreciated. Katherine Biondi, University of Guelph; Peter Coughler interim director of the Center for Farm Family Succession-, Professor Elliott Currie, University of Guelph; Terry Good, sales manager of Alpine Plant Foods; Dr. John Fast, director of The Center for Family Business Conrad Grebe[ CollegeKarolynn Hunsberger, agriculture mediation for KPMG; and Grant Robinson FCA, Robinson and Company.
Another group of persons who are far too numerous to mention individually are the hundreds of farmers the author has had the opportunity to interact with over a period of many years. It is from observing this group of individuals working on their farms with their family that has provided the backdrop for this paper. contents