In this episode, my guest is Glenn Dogterom, Farm Family Transition Coach, retired CPA, financial planner, and acting member of the Canadian Association of Farm Advisors. Over the years, Glenn has provided a variety of services to his clients including tax planning and preparation, financial statements, cash flows, and transition planning. Glenn proposes there’s a better, more thoughtful approach to transition without all the pressure and potential for bad decision-making.
We discuss practical strategies for achieving realistic timelines and involving the younger generation from the get-go, as well as what to do and expect if you haven’t. At the end of this episode, you will better understand how much time it takes to achieve a more meaningful transition, and why considering inevitable illness and debt is so important.
For anyone interested in reaching out to Glenn, you’ll want to do it soon as he’ll be retiring from the Farm Family Transition Coaching team in December 2024. To book a Discovery Call with Glenn before December, please use the Contact Page on our website.
“One of the challenges that I think we faced is that when individuals get into their mid-70s, they’re looking for security, and so they’re often concerned about just exactly how things are going to play out and what their role is going to be, and it’s partially the apprehension driven by those factors that have them really not willing to dive into it. They don’t understand how this can get resolved to everybody’s satisfaction.” -Glenn Dogterom
Elaine Froese Resources & Links
- SPEAKING – book Elaine for your next event
- COACHING – find your Farm Transition Coach
- MEMBERSHIP – join the waitlist for the Farm Family Harmony Membership
- RESOURCES – download for FREE
- CONTACT – take the next steps in your transition
About Our Guest
BIO PIC
Glenn Dogterom is a retired Public Accountant and Financial Planner with a focus on the agricultural sector and assisting farm families in the transition process. The nature of Glenn’s work with clients has given him a greater understanding of a variety of farms and practices. He is currently an acting member of the Canadian Association of Farm Advisors.
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Timestamps
[0:00:30] Introduction Glenn Dogterom
[0:01:30] What to do when you’re stuck
[0:03:55] Creating realistic timelines and involving your children in the process
[0:07:00] Assessing your skills and creating a business plan as a younger farmer
[0:08:21] Financial preparedness and passing on debt
[0:10:38] How to lean on your team of trusted advisors
[0:13:02] Navigating transition in the midst of health issues
[0:15:37] Finding harmony through understanding can take time
[0:18:33] Glenn’s favorite “good transition” story
[0:21:41] It’s a journey, not a sprint
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