I appreciate the difficulty of fitting yet another item into an already full position, and so I'll suggest that your challenge isn't so much juggling yet another task as it is prioritizing the ones you currently have. If you are retiring later this year, how are you prioritizing your current responsibilities? Who are you developing to take on and step up to those tasks? Fitting everything in is likely impossible since you only have 24 hours in a day, but prioritizing them (based on ROI and strategic business goals) is the only way to use those 24 hours wisely.
I'll also suggest that you consider shifting your approach to professional development discussions with your team. If your staff members are fully aware of business strategies, they should be defining their own development goals and potential career directions by aligning their strengths and abilities with strategy. This is taking ownership of their careers and building a business case for their development and direction. Since career ladders are (often) non-existent, someone needs to be building the alignment of professional career value and business direction and no one can do this better than the individual. When a manager tries to do this, the process can be perceived as political, often becoming divisive. While this is quite different than the 20th century career paradigm currently in use in most organizations, it's a much smarter use of resources and provides tremendous alignment of "talent" with business strategy. I wrote a book on it: Career Ownership.
You need to have developmental conversations with your team when they have plans to propose. These can be spread out over time, discussed in smaller bites with plans created over several months. Most people are highly motivated to consider career options, and you might be surprised at the growth your team members desire. I'm happy to talk with you further around this process: it's not difficult but it is different and takes shifts in thinking.