Aging farmers, lack of succession plans put future of family farms at risk

Aging farmers, lack of succession plans put future of family farms at risk

Bryan Maynard, a co-owner of Farmboys Inc., along with his brother Kyle, is seen in one of their potato fields in Richmond, Prince Edward Island on Friday, July 14, 2017. Maynard is calling on families to talk about the future of their farms. He’s concerned that a booming number of farmers nearing retirement, without having planned for their successors, is putting the next generation of small-scale farming at risk, a view shared by other farmers and farming organizations. THE CANADIAN PRESS/Andrew Vaughan

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Bryan Maynard says his grandfather, a Prince Edward Island potato farmer, didn’t start talking about retirement until he was 80 years old and had been diagnosed with dementia.

At that point, with no succession strategy in place, Maynard and his brother suddenly had to scramble to find a way to keep the farm in the family and just barely managed to do so

http://www.leaderpost.com/news/national/lack+succession+plans+puts+future+family+farms+risk/13736386/story.html

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