• Farm Succession Planning

Success from one generation to the next

Effective farm succession planning is imperative to the future of Canadian agriculture: 98% of farms are family owned, while the average age of farmers is 55. Farming assets are often cultivated over generations, and increase in value over the lifetimes of people who own them. Each generation acts as a steward of the farm, transitioning it to the next generation to continue the legacy. When planning for farm succession, it’s pivotal to choose the right successors, and mentor them to continue the family’s shared vision for the future.

Every family is unique—as is their farm, and their vision for it. BDO’s succession planning process starts by engaging the family to understand their values and vision. We help them identify the challenges they must address, and then develop strategies specifically designed to reach their goals. We understand what it takes to transition management, leadership, and ownership while ensuring the health and well-being of the family remains intact.

Our team of family enterprise advisors (FEAs), farm family coaches, and other business and financial professionals extend their highly specialized experience to benefit the specific needs of each farm family. We offer strategic integration of cutting-edge tools across BDO service lines; including tax, valuations, financial planning, and human resources advisory to help manage the crucial parts of the farm succession journey.

We’re also proud to leverage our strong external relationships; collaborating with consultants, investment advisors, lawyers, and other local accountants—all in the spirit of helping deliver solutions while protecting our clients’ farm and family.

BDO’s farm succession planning services are designed to help farm families gain clarity, certainty, and peace of mind. Our passion for agriculture means we’re wholeheartedly dedicated to seeing the future success of current and next farm family generations.

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