Farm Succession Success Pt.2 with Andrew Leach

Session 2: Financial Considerations and Implementation for Succession Planning

Financial clarity is essential for successful farm succession. Building on key concepts from Session 1, this session explores strategies for value extraction for existing generations, cash flow, and compensation planning. Learn about income planning, equalization funding options for non-farming family members, and protecting your legacy through risk management. Practical insights will help you balance family harmony with financial realities, ensuring fairness and security for all stakeholders. Whether you’re planning or actively transitioning, this session provides actionable steps for financial implementation to secure your family farm for future generations.

 

Andrew Leach first joined Farm Life Financial in 2015 and has more than a decade of experience as a Farm Advisor.  Having grown up as part of a farming family, he understands first-hand the complexities surrounding farm succession planning and has a passion for keeping the farm in the family.  Andy’s work with Farm Life clients focuses on creating efficient farm succession plans, and ensuring the next generation of farm owners can develop the financial literacy needed to continue building the farms legacy. Andy focuses on clearly understanding the next generations goals, and putting tools in place for a successful transition all while navigating the family unit and finding common ground for next steps. 
 
Andy is a long-standing board member for Kawartha Lakes Food Source and is involved with several community-based organizations.  Andy is driven to increase awareness around the intricacies of farm succession and is a regular speaker on financial literacy and farm succession planning, speaking to groups such as the Dairy Farmers of Ontario, Ontario Berries, Ontario Soil and Crop Association and participating as a presenter on the annual OFA Farm Life Financial Literacy & Succession Planning Road Show.  In addition, he is a regular contributor to publications such as Progressive Dairy and Country Guide Magazine. 
 
Andy lives in Kawartha Lakes with his wife and 4 daughters.