GFM Network News


Generational transfer and the task of being fair to the other children is complex.

How to keep the farm together, a complex generational transfer

Farm Financial Planner: Parents devise a plan for middle-aged children to keep the farm whole

A couple we’ll call Max, 75, and his wife, Betty, 70, farm 1,000 acres in western Manitoba. They have three children who are 40, 48 and 45 years old. The eldest and youngest have city jobs and no wish to farm. The middle son, who we’ll call Brian, will take over the farm. The issue […] Read more

It’s clear that a modest financial base can produce substantial returns late in life with well-managed tax exposure and a view to transfer of assets to the next generation.

Farm Financial Planner: A Manitoba couple generates more income and pays less tax

How the couple secured retirement and transferred their remaining land to their son

In central Manitoba, a couple we’ll call Harry, 80, and Mary, 76, had a mixed grain and beef cattle farm for four decades. They sold the home quarter to their youngest son, taking back a long-term mortgage with favourable terms. They kept 320 acres, which they have rented out to a neighbour. Their plan was […] Read more


The couple’s largest capital asset will be their personally owned farmland.

Farm Financial Planner: Retirement income and inheritances

How to create a retirement plan and leave a legacy for your children

In central Manitoba, a couple we’ll call Jack, 57, and Susie, 54, have found themselves in a crisis. The couple left active farming and now rent their land to a neighbour. Sixteen years ago, Jack got a city job and sold 480 acres of the farm, half its original 960 acres, to pay debts and […] Read more

If a situation is becoming stuck, 
try asking the other person how they 
would like to
move forward.

A new frame to see transition possibility and movement

Here’s some language tools to use to help persuade and influence others

If you’re fighting storms or sorting cows, grab five minutes to soak this story in. You cannot neglect tending to the needs of your cows. Let’s talk about embracing the same urgency with your farm transition conversations. My speaker friend Shelle Rose Charvet, author of Words that Change Minds, has tools for better language that […] Read more


Farm Financial Planner: Estate planning for the very long term

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

Farm Panorama in Autumn

Farm Financial Planner: Keeping the farm and keeping afloat

Recently widowed Linda wants to keep the farm together with a viable tax plan

In north-central Manitoba, Linda is 75, recently widowed and wondering what to do with the family farm. She has 880 acres rented out for $1,500 per month for grain and pasture. Two sons in their 40s have off-farm jobs, but even if they wanted to go home and farm, there isn’t enough land for a […] Read more


Male gives a gift to female

Gifts with a warm hand, not a cold one

How are you transitioning 
money to the next generation?

It was great delight to hear Dr. Meir Statman speak to certified financial planners in Halifax at their annual convention in June. He was talking about normal financial behaviours and why culture matters in how we transition our money to the next generation. I clapped when I heard him say, “I believe it is wise […] Read more



Farm Financial Planner: Switching up a succession plan

When children change their minds, parents revise their farm succession plans

Central Manitoba farmers Lloyd, 59, and his wife Ellie, 58, have been running their grain farm for four decades. With 1,920 acres of land they own personally and 960 acres in their farming corporation and reasonably up to date machinery owned by the corporation, they face the common problem of generational succession. They have two […] Read more