Every farm is different and requires a different approach. Successful solutions are ones that have enough flexibility to respond to the changing needs and circumstances of both parties, don't tie down farming children with excessive debts and payments, create enough income to meet the living needs of the individuals involved in the farm, and the operating and growth needs of the business. Unfortunately, financial burdens are split unfairly between generations. Too often this can lead to failure and loss of the family farm. Good communication, a strong management team, delegated areas of responsibility and a solid business plan certainly help in the successful transition from one generation to another.
Family farms remain the dominant and most successful type of food producer in Canada.
Presuming they can be successfully passed from one generation to the next, they will remain so well into the future.