This paper discusses succession planning on family farms. It reviews traditional farm succession planning, and then compares the traditional farm model with the modern farm. The paper also introduces the “wise owners succession model,” and highlights the goals of the model as well as succession principles to discuss with farm clients.

This paper is part of a collection presented at LESA’s Family Farm Issues in Red Deer on October 27, 2017 and in Lethbridge on November 3, 2017.