Many farms are in the middle of or preparing for a transition to the next generation. The legal struc-ture of the farm (proprietorship, partnership, corporation, joint venture) can help, or hinder, this transition. | Getty Images

Farms encouraged to consider setting up joint ventures

A farm’s overall success in the short and long term has a number of factors, chief among them being the blood, sweat, and tears of the men and women who operate them. Many farms are in the middle of or preparing for a transition to the next generation. The legal structure of the farm (proprietorship, […] Read more

Unanimous shareholders’ agreements help succession

An often-overlooked component of a business owner’s estate plan is a unanimous shareholders’ agreement. A USA can be a useful tool for estate planning purposes, especially in the context of the succession of a family farming corporation. Generally, a USA is an agreement that governs the conduct of a corporation and its shareholders. USAs can […] Read more

Capital gains exemption not as tax-free as you may think

Whether you are a tax expert or not, if you farm and personally own farmland or shares in a farming corporation, you are likely to have come across three words that sound like pure gold — capital gains exemption. However, there are three other words that almost always tag along where the CGE goes — […] Read more


Many farm families consider transferring their farmland into joint names with their children before they die so that their estates avoid probate fees, but there are risks associated with this strategy.  |  Getty Images

Transferring farmland into joint names comes with risks

When planning for the future, it is common for families to receive well-intentioned advice that parents should transfer their farmland into joint names with their children before they die so that their estates can avoid probate fees. Probate fees are the fees that an estate pays to the court in order to receive letters probate […] Read more

Whenever a person transfers capital property to someone with whom they are related, the act deems that transfer to occur at fair market value, regardless of the actual sale price. A similar rule states that whenever a person dies, that person is deemed to have disposed of all capital property at fair market value. | Getty Images

Transferring the farm to the kids is tax free – or not

Many farmers know there are “tax rollover” rules in the Income Tax Act that allow their farmland and shares in their farming corporation to be transferred to their children without tax. However, these rules have many conditions that can catch people by surprise. First, some background. Property that can create a capital gain or loss […] Read more


Farm estate planning: where there’s a will, there’s a way

Putting together a plan for what will happen to your assets after your death can feel like an overwhelming task. There are so many variables to consider: How will my debts be paid? How do I make sure that all my kids are treated fairly? How do I ensure that my farmland will remain in […] Read more

Understanding family property law is key to succession

Farm succession planning is complex. The transition of the family farm to the next generation raises several questions, including how you ensure the farm remains in the family. The legacy within a family farm may span several generations. But what happens if along the way a separation or divorce occurs and the family farm is […] Read more