Farm Family Harmony Podcast

In this episode, I sit down with Kevin Hegedus, Certified Financial Planner and founding partner of PWM Private Wealth Counsel, for a practical conversation about how to align vision with siblings and/or spouses when there's lots of disagreement. Kevin brings years of experience helping farm owners and families sort through the financial intricacies and reach retirement confidently. Together, we explore misalignment between spouses' vision for retirement and transition timing, and the value of early planning and using tools for transition. We discuss the 3 key farm transition snapshot points; the difference between equal vs. fair inheritance; and the importance of family meetings, celebrations, and communication. Kevin also brings valuable insight into contingency planning and long-term care for aging farmers. If you or someone you know is struggling to find alignment with their farm spouse or siblings, this episode is for you. "It boils down to having those early [planning] conversations. None of us are going to be here forever, so how do we make sure that what we worked so hard for transfers to the next generation properly." - Kevin Hegedus, PWM Private Wealth Counsel Resources Mentioned During This Episode PWM Private Wealth website: https://www.pwmprivatewealth.com financial planning, retirement, and succession resources Money Sense Radio Show: https://www.pwmprivatewealth.com/radio weekly insights on planning, tax, and retirement About Our Guest Kevin Hegedus is the Founder and Managing Partner of PWM Private Wealth Counsel in Saskatchewan. A Certified Financial Planner and Registered Portfolio Manager, Kevin has more than 25 years of experience guiding families, business owners, and farm operators through complex financial decisions. He specializes in connecting investment, tax, and estate planning strategies to help clients achieve clarity and confidence. Kevin is also the long-time host of the Money Sense radio show and a regular speaker on topics such as retirement income planning, succession, and intergenerational wealth. Contact Kevin Visit PWM Private Wealth Counsel's Website Follow Kevin on LinkedIn Elaine Froese Resources: Watch this episode on YouTube. Visit the podcast website SPEAKING - book Elaine for your next event COACHING - explore Farm Transition Coaching MEMBERSHIP - become a Farm Family Transition Member FREE STUFF - downloadable tools for your farm transition CONTACT - take the next steps in your transition BURNING QUESTION? Submit it here Farm Family Coach Social Media Links Facebook Instagram LinkedIn X YouTube TikTok Timestamps 0:00:36 — Introduction & purpose of the podcast (alignment in farm family vision). 0:03:18 — Identity and challenges of farm business owners. 0:04:26 — Misalignment between spouses' vision for retirement and transition timing. 0:06:57 — Three key farm transition snapshot points: income streams, housing, fairness. 0:08:36 — Scenarios for retiree income and transition, selling equipment, rental of land. 0:12:58 — Financial transparency, farm women, and discovering hidden wealth. 0:13:49 — Managing sibling disagreement and succession, splitting the farm. 0:16:53 — Equal vs. fair inheritance, the role of insurance for fairness. 0:19:01 — The value of early planning and tools for transition. 0:21:26 — Building personal wealth, tax-free savings, and retirement income. 0:23:22 — Fee structure for financial advisors and value proposition. 0:25:08 — Historical reasons for tax avoidance mentality in farming. 0:27:25 — Income-splitting, tax strategies for retirement, the importance of financial planning. 0:29:57 — Income challenges for the next generation of farmers, debt options. 0:32:05 — Open family discussions for smoother transition and succession. 0:34:18 — The importance of family meetings, celebrations, and communication. 0:35:33 — Contingency planning for aging farmers and long-term care. 0:36:39 — Advocating for women's roles in planning and independence. 0:37:53 — The "poison pill" in farm succession and legal protections. 0:39:43 — Final advice: have open conversations about future planning, income, and fairness.

In this episode, I sit down with Lyndsay Seafoot, Human Resources Specialist and owner of Curbridge Consulting, for a practical conversation about one of the toughest dynamics on family farms: how to give performance feedback to family members. Lindsay brings years of experience helping farm businesses create clarity around roles, job descriptions, and communication. Together, we explore why giving feedback to employees often feels easier than giving it to your own relatives, and how to change that. We discuss how clear expectations, structured check-ins, and respectful communication can help farm families move from frustration to alignment. Lindsay also shares actionable tools for creating a more professional workplace culture without losing the warmth of family. If you've ever struggled to balance accountability with compassion, or wondered how to have honest conversations that don't end in conflict, this episode will show you how feedback — when done right — can strengthen both your team and your relationships. Resources mentioned on this episode Access the folder of resources About Our Guest Lyndsay Seafoot is the founder of Curbridge, Stand Out Staff, and Directors Desk, all of which are companies focused on building expert-level HR for companies and organizations. Lyndsay started in entrepreneurship in her 20s but has been focused on building and growing her HR companies since 2020. Lyndsay has a CPHR designation, and with her 14 years of experience in the field, she has worked with companies across the prairies to develop strong HR foundations that allow companies to grow, hire better, retain more, and get some peace of mind when it comes to employees and managing them. Contact Lyndsay Visit Lyndsay's website Follow Lyndsay on Instagram @curbridge.hr @curbridge @lyndsayseafoot Elaine Froese Resources: Watch this episode on YouTube Visit the podcast website SPEAKING - book Elaine for your next event COACHING - find your Farm Transition Coach MEMBERSHIP - become a Farm Family Transition Member FREE STUFF - downloadable tools for your farm transition CONTACT - take the next steps in your transition  BURNING QUESTION? Submit it here Farm Family Coach Social Media Links Facebook Instagram LinkedIn X YouTube tiktok Timestamps 0:00:33 Introduction and guest welcome; Lyndsay's HR expertise. 0:01:35 Defining frameworks and the need for HR foundations on farms. 0:03:00 Feedback challenges in farm families and key performance feedback questions. 0:04:34 Defining performance feedback: types (real-time vs. formal). 0:05:50 Communication issues and useful vs. unhelpful language for feedback. 0:10:11 When to give performance feedback and why it is often avoided in farm families. 0:14:33 How younger generations can seek effective feedback and build common ground. 0:18:33 Technology for farm procedure clarity; importance of face-to-face feedback. 0:20:15 How farm spouses/partners can encourage feedback initiation. 0:23:47 The cost of lacking feedback: retention, engagement, and the farm's reputation. 0:29:20 Leadership's role in scheduling and prioritizing feedback meetings. 0:32:47 Addressing the "not my job" mindset and fostering the right farm culture. 0:36:57 Accountability for improvement; holding family members to professional standards. 0:40:03 Key takeaways: respect, common ground, and choosing your response.

In this episode, I talk about what it really means to take back control of your future, especially if you're feeling stuck, micromanaged, or unheard in your family farm transition. I explore why so many farmers find themselves frustrated and uncertain, waiting for others to make decisions that deeply affect their future. From micromanaging parents to unspoken fears about letting go, I unpack the root causes of these tensions and the mindset shifts needed to move forward. I also share how curiosity, courage, and communication can turn conflict into clarity, and why it's time to stop accepting bad behavior, start setting boundaries, and make this winter the season you finally take action. If you've ever thought, "Things can't keep going like this," this episode will help you see that progress starts with you — one honest conversation, one clear boundary, and one next step at a time. Access the full show notes for this episode at elainefroese.com Elaine Froese Resources: Watch this episode on YouTube. SPEAKING - book Elaine for your next event COACHING - find your Farm Transition Coach MEMBERSHIP - Join the Farm Family Harmony Membership waitlist RESOURCES - download for FREE CONTACT - take the next steps in your transition  BURNING QUESTION? Submit it here for Elaine or her coaches Timestamps 0:00:30 - Introduction and discussion about harvest season and Christmas 0:08:09 - Addressing micromanagement and family dynamics in farming 0:16:53 - Strategies for having difficult conversations and planning for the future 0:19:01 - Urgency of making changes and managing time effectively

In this episode, I sit down with Amber Meyer, Certified Financial Planner with TruStone Wealth Management, for an eye-opening conversation about how financial realities and family expectations shape the success (or the struggle) of farm transitions. Amber brings years of firsthand experience helping multigenerational farm families align money, mindset, and legacy. Together, we explore the biggest hurdles keeping families from "getting to the table," from unspoken assumptions and generational gaps to the tough math of cash flow, living expenses, and retirement readiness. Amber explains why clear communication, realistic asset valuations, and early planning are essential to keeping both the business and the family intact. We also talk about creative ways to make transitions viable—from custom work and diversified income streams to using tools like trusts and lifetime transfers to balance fairness with financial sense. If you've ever wondered how to start these conversations or how to keep them from derailing, this episode will help you see that peace and profitability can go hand in hand when families commit to transparency, teamwork, and communication. Access the full show notes for this episode at elainefroese.com Discover more about our guest: Amber Meyer, CFP APMA Elaine Froese Resources: Watch this episode on YouTube. SPEAKING - book Elaine for your next event COACHING - find your Farm Transition Coach MEMBERSHIP - Join the Farm Family Harmony Membership waitlist RESOURCES - download for FREE CONTACT - take the next steps in your transition  BURNING QUESTION? Submit it here for Elaine or her coaches Timestamps 0:01:55 - Amber's background growing up on a farm in North Dakota 0:04:34 - Discussion of generational gaps in farming 0:08:34 - Financial inventory and assessing farm viability 0:11:53 - Advice on saving and investing for young farmers 0:17:06 - Importance of wills and estate planning 0:21:37 - Setting realistic land and asset valuations 0:24:04 - Fee structure for financial advisors 0:28:58 - Who typically drives the farm transition process 0:33:56 - Key advice: Communicate, communicate, communicate

In this episode, I sit down with Dr. David M. Kohl, Professor Emeritus of Agricultural Finance and Small Business Management, for a conversation about what it really takes for young farmers to build strong, lasting farm businesses. We discuss why transition is not just a handoff but a transformative process that requires transparency, honest financial assessments, and the courage to face tough realities head-on.  Dr. Kohl explains why starting with a clear resource assessment matters, how cash flow planning shapes long-term success, and why written goals act as a compass when the road gets messy.  This episode offers young farmers, founders, and successors alike practical wisdom, fresh perspective, and encouragement to move from uncertainty to clarity — and to see transition not as a burden, but as an opportunity to strengthen both the farm and the family behind it. Access the full show notes for this episode at elainefroese.com. Discover more about our guest: Dr. David M. Kohl Elaine Froese Resources: Watch this episode on YouTube. SPEAKING - book Elaine for your next event COACHING - find your Farm Transition Coach MEMBERSHIP - Join the Farm Family Harmony Membership waitlist RESOURCES - download for FREE CONTACT - take the next steps in your transition  BURNING QUESTION? Submit it here for Elaine or her coaches Timestamps 0:04:40 - Discussion on farm succession 0:05:30 - Resource assessment for family business transition 0:06:55 - Importance of understanding true profitability through accrual adjustments 0:11:24 - Advice on debt servicing and working with lenders 0:14:59 - Land buying strategies for young farmers 0:18:29 - Importance of goal setting and using a facilitator 0:22:16 - Skill assessment and developing mini business plans 0:24:17 - Warren Buffett's advice on behavioral success 0:28:35 - Discussing family living arrangements and budgets 0:33:08 - The five key points for successful farm transition