Farm Succession Speaker

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On many farms, the biggest transition risk isn't taxes or land values. It's that nobody has started the conversation. When the Impact Farming podcast asked Tom Deans what farmers get wrong about transition, he said they “are doing nothing.”

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Tom has brought that message to Farm Credit Canada audiences, including the FCC Young Farmer Summit in Winnipeg and a series of online events on farm transition and estate planning. He helps farm families, and the people who advise them, talk about what usually goes unsaid.

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What the Numbers Say About Farm Transition

• Just 12% of Canadian farms reported a succession plan in the 2021 Census of Agriculture.
• Canadian farm operators averaged 56 years old in 2021, and 60.5% were 55 or older.
• The average US producer was 58.1 years old in 2022, and 38% were 65 or older.
• About 43 million US farmland acres are expected to change hands over five years, not counting land in wills or trusts.

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The Questions Farm Families Avoid

• Who actually wants the farm? Generations of pride can create pressure, and children may feel they have to stay even when they want a different career.
• Is the farm a legacy or a way to create wealth? Tom challenges owners who see the farm as “our baby” and asks them to treat it as a vehicle for creating and transferring wealth.
• What's fair to each child? Tom warns that equal isn't always fair. A business and the same amount of cash can leave very different results after tax, which matters when one child farms and another doesn't.
• Should the next generation buy in or receive a gift? Tom questions the habit of gifting a family business. He argues that a successor with their own money at stake is more committed.
• What if nobody should take over? Tom told Farm Credit Canada that longevity may not be a healthy goal, and that there is no shame in ending things if the next generation isn't ready.

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What Successful Farm Families Do Differently

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Tom says the families who transition successfully are the ones who talk openly and meet with their farm advisors every year. Families who feel overwhelmed by the complexity, the emotion, and the weight of legacy tend to avoid the subject, which can erode both wealth and relationships.

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What Tom Covers at a Farm Event

• Why silence is the biggest threat to family farms
• Why farm family meetings matter, and how to start them
• The common obstacles that keep families from estate planning
• Practical transition ideas that protect wealth and relationships
• The questions in Tom's book Every Family's Business

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Who Books Tom

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Agriculture is one of the industries Tom speaks to at conventions and workshops. His client list includes Farm Credit, Farm Journal, All-Star Dairy Association, and Agri-Trends. Tom is a strong fit for farm organizations, lenders, commodity groups, young farmer programs, and agricultural advisors.

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Available Formats

• Conference keynotes for farm organizations and agricultural conventions
• Young farmer sessions for the next generation, like Tom's talk at the FCC Young Farmer Summit
• Workshops for farm families and agricultural advisors
• Online events for audiences spread across a province, state, or region
• Virtual Family Meetings for one farm family, with up to ten family members and their advisors

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Watch and Listen to Tom on Farm Transition

• The Modern Family Farm Transition, a Farm Credit Canada webinar
• Six Estate Planning Ideas Successful Farm Families Master, a Farm Credit Canada webinar
• Farm Transition Q&A with Dr. Tom Deans, from Farm Credit Canada
• Every Farm Family's Business on Impact Farming with Tracy Brunet

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Planning for business owners outside agriculture? See Tom's family business succession keynote.

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Watch Tom Speak