GFM Network News

Farm Financial Planner: Estate planning for the very long term

This tree farmer’s crop will take decades to mature, but tax planning is still key

David, a name we’re giving to a tree farmer in eastern Ontario, is 83. His wife passed away some years back. He converted a 47-acre former hay and horse farm to trees. Now there are 25,000 trees growing, a crop that, given natural mortality, he is unlikely to see mature. The trees are varied, including […] Read more

It’s worth having a professional draw up a will so there can be no confusion as to how a person's wishes will be interpreted.

Get it in writing: wills and agreements

Financial Planning: Make things easier for yourself and your loved ones by making the paperwork clear

Laura McDougald-Williams, a partner with Meighen Haddad LLP in Souris, Manitoba, spends a lot of time with farm families trying to help them plan for unexpected events such as death, disability, divorce or disagreement. “So many times, I wish I’d had a 20-minute estate planning session with people before one of these events in their […] Read more

Treating non-farming children equally

We know the saying: “equal and fair are not the same.” But this is still a succession stickler

Is equalization a succession issue on your farm? Treating farming and non-farming children equally has been a source of conflict for farm families for years. With the rising valuations in farmland and farm machinery and the potential for future increases, many farm families are struggling even more with the topic of how to treat children […] Read more