The fourth annual Farm Transition Appreciation Day (FTADay) will take place on Tuesday January 9, 2024. This tribute was created to encourage and celebrate the progress Canada’s farmers are making to secure the future of farming in Canada. It is one day of the year when the farm sector can come together to share stories and advice, and to encourage farmers through a national campaign using social media, agricultural media and offering learning events across Canada. This year’s theme, Farming for our Future, will showcase how today’s farmers are paving the way for Canada’s next generation.

The New Year is the perfect time to reflect on the positive steps farmers have taken to secure their farming legacy and help ensure the continuity of Canada’s agricultural excellence through effective planning. FTADay is a celebration, and a call to action.

To kick things off, here are five farm transition planning tips:

1.  Start the conversation about farm transition at least 10 years before the transfer is set to take place to allow sufficient time for everyone to prepare and adjust.

2.  Hold a formal meeting involving everyone to identify and harmonize the family and business vision and goals in writing

3.  Establish a clear and mutually agreed on transition timeline between the current owners and successors to reduce uncertainty about the future of the farm and everyone’s role within it

4.  Prepare a formal written farm transition plan that can be shared, referenced and reviewed on a regular basis

5.  Hire a coach or transition planning facilitator to help keep your transition planning on track

To register for the webinar, link here: https://cafanet.ca/ev_calendar_day.asp?date=1/9/2024&eventid=229

Source: Farm Management Canada December 11, 2023 news release