Beyond Succession

Welcome to Beyond Succession, a podcast series within the Bennett Jones Business Law Talks podcast that explores the complexities of family enterprise. Join host Leah Tolton, a family enterprise and corporate lawyer who helps family-owned businesses navigate governance, succession and growth.

For a family enterprise, selling the business is about much more than completing a transaction. Owners must balance financial objectives with family priorities, employee considerations and the legacy built over years or generations.

In this episode, Leah Tolton is joined by Alyson Quan, partner and senior managing director in Deloitte’s corporate finance practice, and Leanne Krawchuk KC, partner at Bennett Jones. Together, they explore how family enterprises can prepare for a potential sale, from establishing the family’s goals and assessing the value and readiness of the business to assembling the right advisory team and preparing for buyer due diligence.

The discussion also considers the emotional side of selling a family business, the differences between strategic and financial buyers, and why the price stated in a letter of intent may not be the amount sellers ultimately receive at closing. Alyson and Leanne explain how working capital adjustments, earnouts, rollover equity, indemnities, regulatory requirements and other deal terms can affect both the structure and outcome of a transaction.

Finally, Leah, Alyson and Leanne discuss what happens when a transaction does not close and how the work completed during the sale process, including improved financial reporting, valuations, due diligence materials and transaction documents, can still strengthen the business and support a future transaction.

In this episode of Beyond Succession, Leah Tolton, Partner at Bennett Jones LLP, is joined by Matt Knight, Executive Director of the Alberta Business Family Institute, to explore how family-owned businesses can thoughtfully engage with AI. From the paradox of patient capital to the challenges of multi-generational decision-making, this conversation offers a roadmap for family enterprises navigating digital transformation without compromising legacy.

Highlights:

In this episode of Beyond Succession, host Leah Tolton is joined by Rob Hannam, CEO of Farm Health Guardian and President of Synthesis Agri-Food Network, to explore how structured strategic planning can help Canada’s family-run farm businesses move from stuck to scalable.

Rob draws on decades of experience guiding more than 50 agri-food organizations through strategy and succession challenges. Together, they unpack the early warning signs that a family enterprise may be drifting without direction and how thoughtful, collaborative planning can realign vision, foster generational dialogue and unlock long-term value.

In this episode of Beyond Succession, host Leah Tolton is joined by Sandra Pollack, author of Don’t Leave a Mess! How to Disaster-Proof Your Family Legacy. Together, they explore why silence is the most common—and most costly—mistake family enterprise owners make when planning for the future. Sandra unpacks how values-based conversations, proactive planning and collaborative advisory teams can prevent disaster and preserve both wealth and relationships across generations.

Whether you are navigating succession, transitioning ownership or just starting to think about your legacy, this episode offers practical hard-earned wisdom for family enterprise leaders ready to move from fear to action.

What if the best buyer for your business is already working for you? In this episode of Beyond Succession, host Leah Tolton is joined by Bennett Jones partner Wes Novotny, one of the first lawyers in Canada to advise on the adoption of an employee ownership trust (EOT). Together, they unpack how EOTs are changing how Canadian business owners think about succession.

Leah and Wes discuss how EOTs allow owners to

All while creating long-term benefits for employees and the business itself. 

If you’re advising a legacy-minded owner—or are one yourself—this episode offers practical insight into why EOTs are a compelling option for succession.

What happens when the person at the center of a harassment complaint is also a family member? In this episode of Beyond Succession, host Leah Tolton, is joined by Laura Inglis and Sabrina A. Bandali to unpack the unique challenges family enterprises face when personal and professional boundaries blur.

They discuss how to recognize when an informal concern becomes a legal risk, the heightened perception of bias in family enterprises and why involving external counsel can make a critical difference. From employment issues to international compliance, tune in for real-world examples and practical strategies to help protect both your enterprise and your family relationships.

When family relationships break down, the impact can extend well beyond personal matters, putting the future of a family enterprise at risk. In this episode of Beyond Succession, host, Leah Tolton, is joined by Patricia Hebert, a collaborative family lawyer, mediator and child advocate, to explore how collaborative family law can protect business continuity, preserve family wealth and sustain long-term legacy during separation or divorce.

Together, they discuss how this non-adversarial approach empowers families to resolve disputes while preserving what matters most—from operating companies and investment portfolios to intergenerational plans and shared values. They also examine how pre- and postnuptial agreements can be used proactively to minimize conflict and protect family assets. This episode offers practical strategies for navigating family change without compromising your family enterprise’s future.

In an era where digital threats are more sophisticated than ever, cybersecurity has become a pressing concern for family enterprises. With their interconnected structures, valuable assets and sensitive information, these businesses are prime targets for cyberattacks. But how can family enterprises protect themselves while maintaining operational efficiency?

In this episode of Beyond Succession, host Leah Tolton is joined by Bennett Jones associate, Suzie Suliman, as they dive into the cybersecurity challenges unique to family businesses and how to mitigate risk. They discuss why family enterprises are particularly vulnerable to cyber threats, balancing cybersecurity with seamless business operations and practical steps to fortify your defenses like vendor management and incident response planning. 

Whether you are navigating leadership transitions, managing complex governance structures or handling day-to-day operations, this episode offers actionable insights to safeguard your enterprise's legacy in the digital age. 

How do United States (US) tariffs and Canadian countermeasures affect Canadian businesses, and what can family enterprises do to prepare? In this timely episode of Beyond Succession, host Leah Tolton sits down with leading international trade lawyer Jessica Horwitz to explore strategies for navigating an uncertain trade environment.

The discussion delves into the latest US tariff policies, unpacking their economic and legal implications for family enterprises in Canada. From supply chain disruptions to workforce impacts and recessionary concerns, the episode highlights practical steps to mitigate these challenges. Topics include adapting contracts, market diversification and capitalizing on free trade agreements outside the US.

This insightful conversation provides valuable guidance for businesses looking to safeguard their operations and stay resilient in an evolving trade landscape.

Delve into the unique challenges and opportunities of Canada’s family-owned agricultural businesses in this compelling episode of Beyond Succession. Host Leah Tolton sits down with Dave Smardon, President and CEO of Bioenterprise Canada, to explore why patient capital is critical for growth in an industry where 92 percent of farms are family-run. Together, they discuss the extended timelines required for successful expansion in agriculture and how this differs from other sectors. They also examine the shifting investment landscape, highlighting how Canadian agribusinesses secure capital compared to their European counterparts and the changes needed to foster growth.

Explore how innovation, driven by advancements in technology and automation, is revolutionizing the growth potential of family-owned agricultural enterprises, helping them scale more efficiently. Leah and Dave also discuss practical strategies for navigating the shift from operator to investor, offering valuable insights on how these businesses can attract external investment while preserving their core values.