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Tag Archives inheritance

people standing in field
Columns

Parents retiring, leaving farm to two sons

Farm Financial Planner: A sale of personal assets to a farm corporation is subject to a now-increased capital gains exemption

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A couple we’ll call Jared, 68, and Leanne, 66, from eastern Manitoba, have built a successful grain farming operation. They have three sons: Josh, 40; Craig, 38; and Shawn, 36. Jared and Leanne want to work toward retirement. The plan is to have Josh and Craig take over. Josh and Craig have both been farming […] Read more
farm family
Columns, Farm Life

Great questions to uncover inheritance expectations

Seeds of Encouragement: Keeping a farm intact can complicate the process, but not insurmountably so

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One of the key fears of aging farm founders is the conflict they anticipate when the farming heir has access to millions of dollars of land, and the siblings who are off to other careers do not have the same net worth opportunity in their future. Or do they? Firstly, where it is written that […] Read more
Time and needs require a flexible estate plan
Columns

Time and needs require a flexible estate plan

Two brothers must anticipate challenges when they equally inherit the farm

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In central Manitoba, two brothers we’ll call Sam and Fred, each in his 30s, inherited a successful third-generation farm split fifty-fifty. Their parents took a $10-million slice of farm capital in preferred shares. All growth of farm value subsequent to the estate freeze goes to the brothers in equal amounts to their common shares. Nathan […] Read more

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