A farm asset transfer crisis is looming on the Prairies

According to Agriculture Canada the total value of farmland and buildings in Canada amounted to $427.9 billion in 2016. In the same year, the total value of farm machinery and equipment owned and leased by farm operators added another $53.9 billion to the asset base. The fastest-growing age group in the farm population was operators […] Read more

Filmmaker Brina Romanek talks with Jim Giffen, the subject of her documentary.  |  Katie Sadie photo

Documentary delves into farm succession

Filmmaker focuses on the story of a retiring Ontario farmer who is passing on his operation to a non-family member

Filmmaker Brina Romanek was working on a project about food waste in Canada when one of her subjects showed her how many farms in the area were not being passed down to the next generation. It sparked an interest in her, and also anxiety about what it would mean for farming’s future. The feeling was […] Read more

Farmers with children who will eventually inherit the farm but do not necessarily want to farm it may consider transferring the land to those individuals. This can be done in a couple of ways.
 | File photo

How to pass on land to non-farmers

Estate plans are key when trying to figure out how to keep non-farming children involved in the family operation


Farmers with children who will eventually inherit the farm but do not necessarily want to farm it may consider transferring the land to those individuals. This can be done in a couple of ways. In Saskatchewan, for instance, land can be held by multiple individuals in two ways: as joint tenants or as tenants in […] Read more


A farm succession expert says too many families fail to consider the long-term consequences of transitioning all or most of the operation’s equity to one child.  |  Getty Images photo

Make tough decisions now

The demographics of Canada’s family farms are changing. That means there’s a need for new attitudes toward farm succession planning, said Brent DeKoning, a farm succession expert with Lorkovic Wealth Management. “Over 50 percent of the farmers in Canada are … 55 and older,” DeKoning said during a recent web seminar, sponsored by Farm Management […] Read more

Finance Canada is holding consultations this month on how to enable intergenerational farm transfers.
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Government gathers input on intergenerational farm transfers

The Canadian Federation of Agriculture continues to push for a comprehensive review of the Income Tax Act

MOOSE JAW, Sask. — Finance Canada is holding consultations this month on how to enable intergenerational farm transfers. Canadian Federation of Agriculture vice-president Norm Hall said the department committed to the consultations after efforts last summer and autumn to overturn proposed federal tax changes that would hinder farm transfers. He told the Farming For Profit? […] Read more


Younger generation has much at stake in succession plan

There tends to be a large focus on the parents of a family farm when it comes to succession and estate planning. This includes what their exit strategy is and how they plan to fund retirement. But for a successful transition, it is important that the next generation also understands the current decisions and the […] Read more

Sarah Hoffmann and her parents, Karen and Garry Weigum, are using a plan that will transition the farm to Hoffmann in the future.  |  Photo supplied by Sarah Hoffmann

Navigating smooth succession

Figuring out how to best transition the farm from parents to children can be daunting, but an easy-to-understand plan can help families achieve their goals. One such plan, laid out by succession expert Merle Good, comes with crucial steps and rules when the family is figuring out if they want to incorporate, establish a joint […] Read more

Consultant stresses communication as families balance money and emotions

Maturity makes for smooth transition

Family farms | Consultant stresses communication as families balance money and emotions

Reg Shandro spends hours sitting at farmers’ kitchen tables discussing futures. Based in Lacombe, Alta., Shandro is building a business around easing the burden of succession planning for family farms. It’s not easy work labouring through the wide range of emotions, dynamics and finances of individual families. “All farm families have their issues,” he said […] Read more