Farmers' Bridge: Transition Readiness

These questions were developed to give you a clear picture of your needs, so together we can navigate the transition between generations. Understanding where your farm and family are now will ensure you get the right help at the right time, pinpoint potential problems and highlight improvements. Let's start building a bridge to the future that's best for you and your family.

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* 1. Think about your current jobs or roles on the farm? (check all that apply)

Key decision-maker

Owner

Manager

Labour

Paid employee

Unpaid support

In-Law

Exiting generation (e-gen)

Next generation (n-gen)

Other (please specify)

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* 2. In your opinion, what are the top problems/issues/challenges your farm needs to overcome to get succession completed?

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* 3. On scale from 0-100 with 100 being awesome and 0 being not at all, how does your family communicate about money?

100

Clear

i We adjusted the number you entered based on the slider’s scale.

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* 4. Approximately when do you want this succession plan to be completely activated?

within 1 year

2 years

3-5 years

5-10 years

10 to 20 years

21+

Other (please specify)

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* 5. How would you describe the next generation leader(s) of the farm business?

No one interested

No one asked

No stated/set requirements for this responsibility

Interested but not working full-time in the farm business

Training begun

Already managing at least some aspects of the business

Consistently part of the decision-making

Family informed and agree with decision

Another potential successor has indicated interest

Needs a plan for transitioning ownership

Has worked on the farm for more than a decade without ownership

Non-family successor

Other (please specify)

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* 6. Have any recent events or changes spurred on this desire to plan transition (pick more than one, if appropriate to the situation)

Significant change to the business

Death

Divorce/Separation

Illness

Next generation-driven

Disagreement

Inheritance

Birth of a child

Marriage/Cohabitation

Other (please specify)

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* 7. On a scale from 0 to 100, how would you currently rate the pain, stress and/or worry currently involved with this transition, with 0 being rainbows/unicorns and 100 being mental health support required.

100

Clear

i We adjusted the number you entered based on the slider’s scale.

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* 8. Are any on-going mental health issues impacting the transition process?

Depression (diagnosed)

Personal Relationships issues

Grief

Substance Abuse/Addiction issues

Dementia (diagnosed)

Undiagnosed mental health issues

Other (please specify)

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* 9. What percentage of the involved parties are currently willing to discuss transition planning together?

100%

75%

50%

25%

10%

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* 10. How well does the next generation know the following?

	no clue, no access to information	vague idea, no access to information	Can find information, full access	full knowledge, full access
Current value of farm assets/liabilities	Current value of farm assets/liabilities no clue, no access to information	Current value of farm assets/liabilities vague idea, no access to information	Current value of farm assets/liabilities Can find information, full access	Current value of farm assets/liabilities full knowledge, full access
Net income of the business	Net income of the business no clue, no access to information	Net income of the business vague idea, no access to information	Net income of the business Can find information, full access	Net income of the business full knowledge, full access
Gross margin of major enterprises	Gross margin of major enterprises no clue, no access to information	Gross margin of major enterprises vague idea, no access to information	Gross margin of major enterprises Can find information, full access	Gross margin of major enterprises full knowledge, full access
Current ownership of assets (who owns what?)	Current ownership of assets (who owns what?) no clue, no access to information	Current ownership of assets (who owns what?) vague idea, no access to information	Current ownership of assets (who owns what?) Can find information, full access	Current ownership of assets (who owns what?) full knowledge, full access
Their own personal net worth	Their own personal net worth no clue, no access to information	Their own personal net worth vague idea, no access to information	Their own personal net worth Can find information, full access	Their own personal net worth full knowledge, full access
Their own cost of living per year	Their own cost of living per year no clue, no access to information	Their own cost of living per year vague idea, no access to information	Their own cost of living per year Can find information, full access	Their own cost of living per year full knowledge, full access
What's in the E-generation's will(s)?	What's in the E-generation's will(s)? no clue, no access to information	What's in the E-generation's will(s)? vague idea, no access to information	What's in the E-generation's will(s)? Can find information, full access	What's in the E-generation's will(s)? full knowledge, full access

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* 11. Which of the following does your farm and family currently have in place (can select more than one answer)

Share Holders Agreement(s)

Will(s)

Partnership agreement(s)

Joint venture agreement(s)

Cohabitation and/or prenuptial agreement(s)

House agreement(s) such as rental , memorandums of understanding, purchase

Employment/Compensation agreements

Life insurance

Off-farm investments and/or pensions

Job Descriptions/Career pathways

Other (please specify)

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* 12. What outside professional advisors have been involved in this transition planning process, so far?

Lawyer

Accountant

Financial investment Advisor

Insurance Salesperson

Banker (financial institution)

Succession planner

Business Advisor

Counsellors

Other (please specify)

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* 13. How many people will be directly impacted by this transition?

# in family

Employees in the business

Family members working in business

Non-farming heirs

Potential Successors

Owners

Managers

Suppliers and buyers (estimated)

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* 14. Does your farm have any formal or informal meetings on a regular basis?

No meetings (not including if E-generation meets with accountant annually)

Random conversations about operations, management, ownership

Meet daily or weekly to discuss operations

Consistent Operations meetings + Managers meet at least once month to discuss business decisions

Consistent Operations + manager meetings Plus Family meets at least once per year

No meetings (not including if E-generation meets with accountant annually)

Random conversations about operations, management, ownership

Meet daily or weekly to discuss operations

Consistent Operations meetings + Managers meet at least once month to discuss business decisions

Consistent Operations + manager meetings Plus Family meets at least once per year

How else do you communicate on your farm?

Farmers' Bridge: Transition Readiness

Question Title

* 1. Think about your current jobs or roles on the farm? (check all that apply)

Question Title

* 2. In your opinion, what are the top problems/issues/challenges your farm needs to overcome to get succession completed?

Question Title

* 3. On scale from 0-100 with 100 being awesome and 0 being not at all, how does your family communicate about money?

Question Title

* 4. Approximately when do you want this succession plan to be completely activated?

Question Title

* 5. How would you describe the next generation leader(s) of the farm business?

Question Title

* 6. Have any recent events or changes spurred on this desire to plan transition (pick more than one, if appropriate to the situation)

Question Title

* 7. On a scale from 0 to 100, how would you currently rate the pain, stress and/or worry currently involved with this transition, with 0 being rainbows/unicorns and 100 being mental health support required.

Question Title

* 8. Are any on-going mental health issues impacting the transition process?

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* 9. What percentage of the involved parties are currently willing to discuss transition planning together?

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* 10. How well does the next generation know the following?

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* 11. Which of the following does your farm and family currently have in place (can select more than one answer)

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* 12. What outside professional advisors have been involved in this transition planning process, so far?

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* 13. How many people will be directly impacted by this transition?

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* 14. Does your farm have any formal or informal meetings on a regular basis?

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* 15. Who are you?

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* 16. Where do you live/farm?

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* 17. What's your email? (so we can send you a free report of your transition readiness or set up a one-on-one call)