However, a tax lawyer says avoiding probate fees by transferring titles away from the testator before they die is not hard
As the old saying goes, the only things certain in life are death and taxes. But professional help and planning ahead can go a long way in dealing with taxes that must be paid following a death. For Nikki Rudachyk, partner at McKercher LLP in Saskatoon and a member of the Canadian Association of Farm […] Read moreAfter the Farm
No need to rush into retirement
Pushing seniors out of jobs, especially out of a family oriented business like farming, is not considered good for anyone
Retiring is a big and often daunting decision for Canadian seniors. Whether financially, socially or mentally, how do Canadian seniors, especially farmers, know when it is time to take that big step? Farming is more than just a career, says Tyler Case, an assistant professor at the Edwards School of Business at the University of […] Read more
More later or less sooner
Life after retirement has never been more flexible for those planning their financial future, especially when it comes to receiving Old Age Security and Canada Pension Plan payments. Since 2013, anyone can defer their OAS and CPP payments to later dates and have more control over the look of their finances. For both programs, there […] Read more
Income deferral unique opportunity for farmers
Only five or six types of grain have been formally acknowledged as acceptable, but the list has been informally extended
It is an understatement to say that tax time is stressful. But farmers have a unique opportunity when it comes to claiming their farm income that can help lessen this stress. Compared to other industries, farmers report their income on a cash basis. According to BDO’s Tax Planning for Canadian Farmers, “farmers only have to […] Read more
Going south with Fluffy and Fido
Pet owners who want to head south this winter have a few options on how to deal with their four-legged loved ones. They can board their cat or dog at a kennel, but that can be expensive. They can ask a neighbour to feed, water, walk and care for their pets, but that is a […] Read more
Multiple studies find dementia is decreasing
The declining rate is linked to higher levels of education and better control of heart disease and high blood pressure
At a time when the only medical treatments available for dementia are providing, at best, a little help, there is some good news about this dreaded disease. Studies in England, Wales, Denmark and the United States have found that dementia rates are going down. In England and Wales, it was found that dementia rates have […] Read more
Keeping the mineral rights right
If there isn’t an oil well on the back 40, mineral rights may be something you never even think about, but maybe you should. “Often the family is not even aware of their existence until they are discovered during a routine title search in the administration of a deceased family member’s estate,” says Humboldt, Sask., […] Read more
When grey divorce meets estate planning
When practicing matrimonial law, the first thing Wynyard, Sask., lawyer Bill Klebeck asked farmers seeking a divorce was, “how many kids do you have and what do they do?” “If they’ve got grown children who are farming with them or who are taking over the farm, then you take a different approach, rather than saying, […] Read more
Some people divorce and some people don’t
Not all of Clive Tolley’s clients want a divorce. Some just want some space. “I’ve had several clients that have got to a time in their life where they just wanted to have some independence and do some things they wanted to do and didn’t get a chance to do. They kind of still love […] Read more
Luxury retirement homes offer comfort and choice
Luxury retirement homes are a fairly new phenomenon, their popularity attributed to the desires or sheer numbers of the boomer generation. Canada may be poised for a seniors’ retirement home construction boom to accommodate the number of aging baby boomers, and like most of the things the big wave of post-war babies has done, they […] Read more
