Recently, some financial institutions have begun imposing their own internal form of “verification” requirement with respect to powers of attorney.
Tag Archives estate planning
Tax and estate planning toolbox needs periodic inspection
Achieving tax efficiency and a smooth transition of a farming business, whether that means selling the farm or passing it on to the next generation, requires a high level of care and attention.
Estate plan tips to recognize farming, non-farming kids
Rural communities all have stories about farmland deals gone bad, land sold through divorces, and non-farming siblings inheriting land and selling it out from under the farming sibling. That’s likely why many parents want to give most, if not all, the farmland to the farming child(ren), so the farm remains in the family. This typical […] Read more
How to avoid a ‘family war’ on farm succession
An estate planner says a family conference that includes lawyers can help take the teeth out of farm transition disputes
Glacier FarmMedia – There are countless books, articles and seminars with advice on farm succession but those resources often fall short of addressing how to salvage things when family discussions fall apart. Farmers can take the teeth out of disputes by incorporating a purposeful family conference into the proceedings, farm management adviser John Poyser told […] Read more
Where there’s no will, there’s still a way through intestacy
Everyone has been told it is important to have a will, but not everyone has heeded that advice. What happens when a person dies without a will, a situation known as intestacy? In some limited circumstances, this is not a big problem. If all assets (house and bank accounts) were held jointly with someone who […] Read more
Family law plays a significant role in estate planning
Drafting a will is a common reason to visit a lawyer. A will is an important document that sets out what happens with assets upon death. Depending on your wishes, it may be prudent to seek not only a lawyer who is skilled in the area of estate planning but also one who has the […] Read more
Estate planning help offered
Farm Credit Canada has introduced a new will and estate pre-planning tool that will provide producers with a starting point when thinking about how to successfully plan for the future of their operations. It is based on Tom Deans’ Willing Wisdom Index platform but has been adapted to reflect the unique needs of Canadian farm […] Read more
Fair transition can require creativity
Estate planning specialist says families must recognize that everyone involved in the process has different perspectives
LACOMBE, Alta. — When farm families need strong medicine to help solve their farm estate challenges, they call the Farmacist. Reg Shandro has talked to farm clients for more than 20 years, helping to find the correct remedy for a successful farm transition. Shandro has broken his estate planning into four themes — perspective, fair, […] Read more
Electronic wills are the new frontier of estate planning
Saskatchewan recently introduced legislation allowing for wills in electronic form. Previously, wills needed to be written on paper with a “wet ink” signature. This new change will allow for the option of either: a holograph will a paper will with a “wet ink” signature a digital/electronic will This article will explore the need-to-know information surrounding […] Read more
An old will can be as bad as no will
GRANDE PRAIRIE, Alta. — Gareth Pugh has seen the good and the ugly sides of estate and will planning and prefers the good side — the planned. Not having a will may cause devastating consequences for farming families, but having an old will can cause just as many problems, said the lawyer specializing in estate […] Read more
