By Jackie Kelly-Pemberton
It can be tough for any farm family to sit down and start a discussion about succession planning. This is something I’ve had firsthand experience with, and it is not without its challenges, but planning for a secure future is a reality of running a family business. Having access to tools and resources for succession planning is one of the growing number of additional services the Ontario Federation of Agriculture (OFA) now offers to our members.
As a grassroots organization, OFA has listened to what’s on the minds of our members, and we understand the tools needed to continue to support their farm businesses. We’ve heard from members who are worried about the complexities of passing their farm businesses to the next generation, and it was clear to us that there was a need for programs and promotions that can help navigate the complications of succession planning.
Because of this the OFA has recently partnered with Farm Life – a succession planning group that only works with farm families – to help get conversations started and succession plans developed on how to pass your farm harmoniously through the generations. Farm Life was founded when the owner and his family tragically lost their father, and their family faced the consequences of not having the right plan in place and the family farm was lost.
OFA wants to help members start the “what if” conversations about succession planning, and the new partnership with Farm Life offers some incentives to help make that happen starting with a complimentary consultation. Farm Life brings farm families together to have courageous conversations about the future of their farm and completes a tax efficient succession plan. OFA is helping by offering preferred rates on succession planning to assist farmers to build a plan that protects both the family harmony and the legacy of the farm.
OFA’s Benefit Program brings together exclusive services and programs to complement farm businesses to offer additional value to OFA members. With more than a dozen partners, OFA members can access a wide range of special services and programs from farm vehicles to insurance, farm supply, communications and banking. Full details of all OFA’s benefit partners are available at ofa.on.ca.