A farm succession planning guide developed by Wellington County has won the award of excellence in innovation from the International Economic Development Council.
Justine Daynard, leader of the project, said the idea came from looking at Statistics Canada data about the age profile of farmers in Wellington County and the province.
Many have not developed a comprehensive plan for what usually is a very personal, emotional, complex and detailed challenge.
It goes far beyond considering whether a family member will inherit the farm or if it will be sold to someone who respects the land and community.
Finances are important, including taxes.
Today’s farming operations are larger than a generation ago, the finances are more complicated and a lot of people and businesses can be involved. For example, there could be written or hand-shake agreements for land rental, hired workers, equipment rentals or custom-operator contracts and sales commitments.
The process typically takes three to five years, Daynard said.
Wellington County farmers immediately responded when workshops were first offered two years ago. Two workshops were fully subscribed and all 250 copies originally printed were snapped up. More than 1,000 visitors have checked out the on-line website.
Daynard and her team have now developed a “white label” plan that other municipalities can adapt to their unique situations.
People from other nations have also expressed an interest in using the plan for their farmers.