Oct. 06/26 News Print Page

Every farm transition begins with a conversation, yet many Canadian farmers have yet to take that first step.

According to the 2021 Census of Canadian Agriculture, two-thirds of Canadian farms have no succession plan and only a small percentage has an actual written plan. With nearly one in four Canadian farmers now 65 or older – and more than 40 per cent expected to retire in the next decade – the pressure to plan for farm succession is growing.

That’s why clear, practical transition strategies are more important than ever.

 

Key facts on succession planning

Of the 189,874 Canadian farms counted in the 2021 Census of Agriculture:

  • 125,499 Canadian farms reported having no succession plan
  • 41,502 Canadian farms reported having a verbal succession plan
  • 22,873 Canadian farms reported having a written succession plan
    • 22,196 included one or more family members
    • 891 included one or more non-family members

Source: Statistics Canada Census of Agriculture 2021

Paths to farm transition

Farm transition looks different for every operation. Common succession options include:

  • family succession – transferring ownership and responsibilities to a relative, often over time.
  • partnerships – allowing retiring farmers to mentor successors while gradually handing over control.
  • corporate structures – such as corporations or LLCs, to help manage assets and operations.

Other possibilities include selling to a third party, leasing the farm to a successor, creating trusts or estates, or even employee buyouts for long-time workers who know the farm inside and out.

Succession isn’t just about retirement – it’s about ensuring the farm continues to thrive for generations to come.

Planning, financing, and support

Farm transition planning is about building a solid foundation for the future. That means thinking through tax strategies, legal agreements, estate planning, and relationship dynamics. It also involves financial conversations, like exploring loan options to support the next generation taking over the farm.

Fortunately, there are financing tools designed specifically for young, beginning, and returning farmers. For example, Agriculture Financial Services’ (AFSC) Next Generation Loan offers competitive interest rates, an additional Next Generation rate incentive, and the flexibility of interest-only payments – making it easier to step into ownership.

Tips for a smooth transition

  • Start early: Begin planning well before retirement to allow time for thoughtful decisions and gradual transitions.
  • Communicate openly: Honest conversations between generations help align expectations and avoid misunderstandings.
  • Get professional advice: Work with financial advisors, lawyers, and succession specialists to navigate legal and tax implications.
  • Document everything: Formal agreements help clarify roles, responsibilities, and timelines.
  • Invest in mentorship: Retiring farmers can pass on valuable knowledge and experience through hands-on guidance.
  • Be flexible: Every farm is different—stay open to creative solutions that meet both personal and business needs.

Bridging the Gap: Farm Transition Workshops

To support Alberta’s producers through this process, AFSC, along with our partners Farm Management Canada and MNP, host a series of one-day farm transition workshops across the province each fall and winter.

These workshops are designed to bring generations together – parents, children, and successors  – as they begin the transition conversation.

Through meaningful discussions and sessions, participants will explore:

  • Succession planning strategies
  • Effective communication across generations
  • Navigating resistance and tough conversations
  • Building and working with a transition team

Attendees will be encouraged to share their experiences, ask questions, and learn from one another. Everyone will leave with practical tools, resources, and a clearer path forward.

To sign up, please use the links below. You will be taken to a third-party website, Eventbrite, to register. If you wish to learn about Eventbrite’s privacy policy, please see: Eventbrite Privacy Policy | Eventbrite Help Centre

Reserve your spot today

Tickets for the Bridging the Gap workshops are available through Eventbrite. Ticket prices range from $42 for an individual to $105 for a four-person farm family. AFSC has a limited number of complimentary tickets (available with promo code) available. Save your spot using promo code AFSCBTG

  • Bridging the Gap Farm Transition Workshop – Red Deer
    November 10, 2026
    Holiday Inn Express, Gasoline Alley
    Get tickets: Bridging the Gap: Red Deer
  • Bridging the Gap Farm Transition Workshop – Edmonton
    January 28, 2027
    Days Inn & Suites by Wyndham West Edmonton
    Get tickets: Bridging the Gap: Edmonton
  • Bridging the Gap Farm Transition Workshop – Lethbridge
    February 23, 2027
    Lethbridge Trade & Convention Centre
    Get tickets: Coming soon