Farm Financial Planner Archives - Page 4 of 4

During the 10-year buyout of the farm, Sam and Ursula would have an annual income of almost $150,300.

Farm Financial Planner: Transition: two children, one farm

Sam and Ursula wan to pass the farm onto their son, but share the wealth with their daughter

By Andrew Allentuck April 18, 2016

A farmer we’ll call Sam, 62, and his wife Ursula, 59, farm 10 quarters of grain in central Saskatchewan. Helped by their son, Ernie, and his wife, Maria, both 35, they have developed a very successful operation. The farm generates an average of $175,000 a year and the couple operates equipment for roadwork, snow plowing […] Read more

Columns

Farm Financial Planner: Retiring farmer selling off the farm

With no spouse and a disabled nephew, this Saskatchewan farmer is ready to close up shop

By Andrew Allentuck March 7, 2016

In northwestern Sask-atchewan, a 63-year old farmer we’ll call Rorie runs a mixed grain and cattle operation on 12 quarters of land. Helped by Sam, his 43-year old nephew, Rorie, who has never been married, keeps five quarters in wheat and oilseeds and grazes 80 cows on the remaining seven quarters. Rorie has a lot […] Read more

Columns

Farm Financial Planner: Widow wants to wind down farm

With no children wanting to farm, this widow wants to sell up and minimize taxes

By Andrew Allentuck March 1, 2016

A widow we’ll call Susan, 64, has a 1,120 acre farming operation in central Manitoba. She owns 800 acres personally and has another 320 acres in her farming corporation. When her husband — we’ll call him Burt, passed away, the estate was probated and quickly transferred to Susan. Now she wonders what will become of […] Read more

Columns

Time to distribute the farm assets

Farm Financial Planner: At age 80, Mary wants to pass her wealth on to her family and a favourite charity

By Andrew Allentuck January 29, 2016

As her 80th birthday approaches, a farm widow we’ll call Mary finds herself in a dilemma. Her husband Bob passed away 10 years ago, leaving substantial life insurance benefits which she used to cover living expenses and farm losses. Mary’s 1,280-acre grain farm is rented to tenants. The farm has broken even with recent high […] Read more

Columns

Pay off debts before selling the farm

Farm Financial Planner: This Manitoba couple can pay off their debts and look forward to a reasonable retirement

By Andrew Allentuck January 4, 2016

In south central Manitoba, a couple we’ll call Herb and Cathy, both 64, are looking ahead to their future. They have farmed grain for more than two decades and have two children, a son age 40 and a daughter, 42. Each has a career off-farm and neither has an interest in returning to the family […] Read more

Columns

Keep farming for a lower tax bill

Keeping the farm operating will hold taxes down and maintain the farm legacy

By Andrew Allentuck May 19, 2015

Farming has been good to a couple we’ll call Horace, 50, and Betsy, 40. Their 3,500-acre grain operation has been consistently profitable. Now they want to plan their retirement and succession, but it’s too early to tell if their daughter, Moira, 10, will be interested in continuing to farm. The couple plan to stay with […] Read more

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Tag Archives Farm Financial Planner

Farm Financial Planner: Transition: two children, one farm

Farm Financial Planner: Retiring farmer selling off the farm

Farm Financial Planner: Widow wants to wind down farm

Time to distribute the farm assets

Pay off debts before selling the farm

Keep farming for a lower tax bill

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