B.C. TRANSITION TOOLKIT FOR NON-FAMILY FARM TRANSFER – Stage 3
BUILDING YOUR TRANSITION TEAM
Working alongside the right team of people on your transition journey is fundamental to success. It’s just not possible for one person to know everything that is required. The level of expertise required – legal, financial, technical – spans across disciplines, and different people will come into the transition process at different points. Who are these professionals you’ll need, and how do you find them?
While some professional relationships (think accountants and lawyers) will span years, others may only last hours, such as a meeting with a technical advisor or insurance broker. Some may simply involve a phone call to a BC Assessment representative with a question. Technical advisory, extension and business support services available to farmers differ across regions.
Most of the private support you’ll require for your team, such as lawyers or financial advisors, work on hourly rates, or potentially contracts. Publicly-funded technical support is sometimes available through a local organization or representative, often free-of-charge or subsidized. Some costs will need to be incurred independently, such as a financial planner, while others, such as a mediator, could be paid jointly by both parties. It’s important to build your team early on in the transition process so you can include the potential costs required to hire professionals into your business plan.
We’ve collected transition professionals across B.C. on the Young Agrarians U-Map – check it out to see transition professionals in your region!
