Moose Jaw mediator Clive Tolley says that about 50 percent of his work is with couples seeking divorce or separation. Some of these couples are part of the so-called boomer generation and some are older. Some contact him on their own, some are referred by their lawyers and some are ordered by the court to […] Read more
After the Farm
Could mediation replace litigation in divorce?
How to get the most out of a farmland sale
Selling farmland has changed along with the price. While demand is obviously higher, so are the opportunities to improve the sale price and shorten the period that land is on the market. In many cases, the value of grain land on the Canadian Prairies doubled in the five years after 2010 and has seen solid […] Read more
When is it time to decide to hang up the car keys?
Since 2010, senior drivers, that is folks age 65 and older, have been having the most automobile collisions in Canada. They are driving into more collisions than any other age group. No one knows exactly why this is happening. It was not always this way. From 2000 to 2007, seniors ranked third, fourth or fifth […] Read more
Farming smarter can often mean farming later
A farm couple from Saskatchewan say they have no plans to retire, at least not in the way that it’s been traditionally done
They have worked hard for many years, they have overcome challenges and age-wise they might qualify; nevertheless, Marj and Ernest Swehla have no intention of retiring now — or ever. At least not in the conventional way. “Our retirement just means doing things differently,” says Ernest at their dining room table in their farm home […] Read more
New gadgets help seniors stay at home longer
In Canada, more than 90 percent of people age 65 and older choose to stay in their homes and communities, according to Statistics Canada. Among seniors in their 90s, about half live in private households. If you or someone you love is among that number, there are many devices and gadgets that can make staying […] Read more
Knowing warning signs of deteriorating skills
The Canadian Automobile Association has compiled a list of warning signs that could signify whether a person needs to change driving habits, as well as information on a doctor’s role in managing this transition. Normal aging affects driving, but there isn’t a set age when a person is no longer safe behind the wheel. In […] Read more
Tax deductions: know the ‘big one’
The capital gains exemption is the single largest tax break that farmers receive, but the issue can get quite technical
Farmers, like most business owners, can take advantage of tax deductions on all sorts of expenses. But when it comes to tax planning, few things can compete with the $1 million capital gains exemption on farm property. “If you asked me what’s the most common tax question I get asked, it would be a no […] Read more
Tax planning called key before retirement
Farmers have a number of options to use to avoid paying high taxes, but creating a plan with an adviser is the first step
When farmers retire, the chronic cash squeeze that plagued them throughout their working lives can often do a reversal. All of a sudden, cash that otherwise wouldn’t be there pours in, putting them in a challenging financial position to avoid high taxes. “When they pull the plug and enter retirement, it’s usually a big shock,” […] Read more
Deduction rules change for big ag purchases
As year-end approaches, most farmers are taking a look at their tax plans with a view to minimizing payments. It’s important to look at decisions that affect both annual tax bills and long-term retirement and succession plans, said BDO Canada tax partner Shawn Friesen from the company’s office in Portage la Prairie, Man. No one […] Read more
More ‘retired’ farmers keep their land
Auctioneers say they are seeing fewer estate sales now than 10 to 15 years ago as retirees keep ties to their farms
“They always say to leave the party when you’re having the most fun,” says Betty Turner. She and husband, Dennis Turner, love farming. But on Oct. 25, after 40 years of farming, the couple are having an equipment auction and retiring. “There comes a time to make some new memories, and that time is now,” […] Read more
