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Why Founding Farmers are Hanging On and How to Help Them Let GoAt 61, my life expectancy is 86. The math says I have a quarter of a century left to create a legacy, help others transition, and mentor the next generation. I am also now a grandmother who delights in reading Penny Grace stories, rocking her to sleep, and sharing her giggles. Life is precious.

Recently I was coaching and speaking to cranberry growers, many who are in their 70’s and 80’s and still attending the AGM of their industry. I was also party to the succeeding generations angst about founders who are not willing to let go of the reins of power.

This begs the question: “When is Dad or Mom going to let go of ownership?” But maybe we need to ask a different question: “What does a good day look like to you on the farm as you continue to age?” The transfer of labour, management, and ownership can happen in stages over time, but it will happen, either intentionally with good planning and agreements or by death.

6 Reasons Why the Aging Founding Farmers are Hanging On:

1. They Don’t Realize 10 Years Have Passed

They are busy with farm operations, and they are too busy to plan. Okay, announce each member of the farm team’s age, and set a date for a discovery meeting to talk about the transition. Use an outside facilitator if you think it would help to keep discussions safe and respectful.

founding farmers - succession talk

2. They Believe the Myth “If You Stop Farming or Retire, You Will Die”

Some older farmers have bought into the myth that if you stop farming or retire, then you will die soon after. Hogwash. Your intent is to keep the aging founder engaged and “in the loop” with the happenings of the farm business. You also want to have your name on some equity so that you can leverage your growth vision.

3. They are Paralyzed with Fear About Inheritance Fights

They don’t want you to know that their current will divides the farmland base into 3 equal parts with all their heirs, including the non-business heirs. Yikes! It is 2018; it is time to be aware and clear about the contents of the business founder’s will. Who are the executors? Who has power of attorney? What is the consequence of the trusts that are set up? There are many questions to get expectations sorted out on the table because your farm business cannot afford surprises.

As a farm family coach, I often hear that parents don’t want their children to fight. That is not the problem. The issue is the mindset that conflict is bad. Conflict is a normal part of life and is not bad. What is bad is unresolved conflict or the avoidance of finding workable solutions for all parties involved. Read my blog about Finding Fairness in Transition.

4. They Are Unsure of Where Their Income is Going to Come From

Because they’ve sunk every dollar back into the farm. This lack of a personal wealth bubble has the parents feeling strapped. Tell them it is high time to seek out an ag. smart financial planner (fee for service who won’t pressure them to buy investments). Folks sleep better at night when they know that they won’t outlive their resources.

Founding Farmers - income

My financial planner who is a member of the Canadian Association of Farm Advisors was able to run my numbers and assure me that I am good with funds until I am 102. You can also start tracking your family living expenses and cash flow to understand what the realistic expectation is for future living costs.

5. They Don’t Want to Move From the Main Yard

Okay, you can take ownership and give them a life estate to stay longer, or better yet, you can source other options that will be activated if and when the elder folks need assisted living. I suspect the reluctance to move is more about who is going to deal with mom’s great collection of stuff or dad’s history of being on that property for over 6 decades. Folks can let go of many things when they feel that what they are moving towards is more beneficial or exciting for them. Are you going to help volunteer to downsize? Many of the farm folks that have changed living sites tell me that they wish they would have done it much earlier!

6. They Have Not Accomplished All of Their Legacy Pieces

When a farmer retires, what remains is their farm legacy, and for many founding farmers, they do not have all of the legacy pieces that they expected to be in place by this time of their life. I met a grandfather who was busy making sure that his grandson would have a piece of his original farmland. This legacy building was very important to his plan, although his other planners may not have agreed with his decisions. Ask the elder couple what they wish to be remembered, what possessions are important for them to pass on with stories attached, and what is their most important value for the family to continue expressing. Letting go of money and land is not the only part of the legacy building.

[Tweet “Retiring from the #farm doesn’t mean you can’t keep helping. How to help founding #farmers move on.”]

How to Founding Farmers Can be More Intentional About the Years Ahead

Recognize What Age Tasks are Important for You in Your Current Decade

For those that are 60 plus, it is about starting over and creating a legacy. Seventy-year-olds still have a lot to contribute to the management and will be good mentors if their opinion is respected. The eighty-year-old crowd takes great pride in ownership, and their letting go will happen when they don’t fear the failure of the next generation, and they feel that their legacy plans will be honoured.

founding farmers - age related tasks

Realize That There are No Guarantees

Farmers embrace avoidance behaviour and hate to make mistakes. Older farmers have seen train wrecks in succession explosions and are fearful of making the wrong decisions for transfer of assets. Build a good team of trusted advisors and work out your plan. Having no plan is a disaster.

Each Day We Live is a Gift

Those of us who have lost loved ones to accidents learned this early in life. Be more present to what is happening today, and don’t dwell on “woulda, coulda, shoulda” attitudes about what happened in the past. Use your warm hands to bless your family with gifts of love, attention, affection, and affirmation.

Love does not read minds. I cannot guess what you need to do to create more certainty for your family business legacy, but you know. It is time to get it done founding farmers.

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“Elaine Froese truly is the Farm Whisperer. With her big heart and stern resolve, she guides families through uncharted waters and helps them arrive safely at their desired destination. She has been there, done that, and has helped hundreds of families come out on the other side. With your family and your farm legacy on the line, you owe it to yourself to start this conversation. You do not need to do it alone. Let Elaine Froese guide you through. Your legacy is being written day by day. How will you be remembered?”
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“I attended the meeting you spoke at in Stratford Ontario recently. We held an emergency family/farm meeting today because of issues that I had enough of. We used a 'talking stick' like you recommended and wrote a chart of rules. The rest of the family thought the idea that we needed a meeting was worth rolling their eyes over, until we got started. The younger ones were quick to clue in that they now have an opportunity to be bluntly honest. The older ones took a bit longer to believe they could truly say what they think. In the end, the meeting needed two sessions because there was so much to talk about… and so many things people didn't realize were a big deal to the others. Your lessons and encouragement have given us the tools we need to get to a better place in our relationships and our business. Truly thankful.”
Kim Martin, Dairy Farmer, Ontario
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Tennille Wakefield, Farm Partner
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James Mitchell, Principal, Conversations Consulting
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G.G., Farm Family Legacy Coach, Alberta
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Laurianne Osmack, Financial Planner / Partner, Doell Osmak Wealth Management
“She has a sense of “knowing” quickly what is happening in the family dynamic. Her messages to her audiences drive home what needs to be done next to solve the complex issues of farm transition and conflict resolution.”
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“Eye-opening. Excited to open the door of communication with my spouse and farm family.”
Ashley Hoppe, Farm Partner
“The Strong Farms, Strong Families session gave farm families an opportunity to meet face to face with Elaine Froese... hear her own story, experiences and skill set. From this information packed session and related materials, families could identify areas of success in their journey and other places they need assistance. The greatest take away was that participants could see that Elaine Froese is someone they can trust with the things that they hold most precious.... their family and their farm.”
Nancy Atkinson, Nobleford Ag Society, Alberta
“Elaine’s real-life scenarios help her audiences know they are not alone, knowing there are creative solutions to help them get the life on the farm they have always wanted.”
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“A long time female client who had refined the art of procrastination was so moved by the end of your presentation that she accepted your permission to “drop the bananas.” She contacted me soon after for an appointment to do some planning which included the selling of the family “Century Farm.” A very, very emotional decision on her part that was not likely to have occurred without your presentation.”
Don Forbes, Forbes Wealthy Management
“I just have to say… that your work is amazing and I have never forgotten your teachings from our session in Williams Lake at TRU. It is super important work. I know so many people going through the trauma of succession. I hate to use that word, but I was an “out-law” and know it can get terrible. I continue to forward your emails on to others. Keep doing what you do! You are amazing. You kind of walk into the fire regularly… and with a smile. Proud to have met you.”
Megan, BC Rancher
“As my husband and I eagerly started the course we were optimistic and excited to be taking this next step in our Farm Transition. We were starting to question ourselves and whether or not we were just being selfish and greedy, and if this Farm Transition was still an option for us. We barely got through the first Module and were already having such a huge relief. As we moved through the modulus there were so many times that we just sat back with our hands in the air and thought YES. My husband and I would smile with relief because all of the concerns that we have been struggling with were relevant and came up in the modules. We really enjoyed the course and are excited to move on to the next stages to find our farm resolution.”
Shannon Gilchrist, “Get Farm Transition Unstuck” online course participant
“My hubby farms with 2 brothers and parents, and it’s become a really toxic place. No communication, no respect, etc. Twelve months ago, my husband’s brothers told him they don’t want to work with him anymore and offered him a pay out. His parents did nothing to stop it! He had no choice but to leave. Three months later, we moved off the farm and into town. He has been offered heaps of jobs and is now truck driving and carting hay and grain. We have tried communicating with his parents about what happened but they are not interested. So basically my hubby has lost his family. Very sad but we as husband and wife are overall in a good place and moving on to create our own life. Please continue on with all your wonderful work in helping families on the farm. I continue to tell any farmers I know about you, that they must ‘google’ you, and read your books.”
Donna, Farmer, Australia

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