Seidlitz family knows it will be important to put plans down in writing if next generation wants to carry on the operation
BETHUNE, Sask. — The Seidlitz family seems to reach back more than one generation for land transfers. Henry Seidlitz bought his farmland from his grandmother and Henry’s son, Bill, bought his farmland from his grandfather. “I am not sure what will happen for the next generation. It has worked well up to now. I don’t […] Read moreTag Archives succession — page 3
Transition starts by deciding who wants to farm
A good place to start when beginning a farm succession plan is to determine what every family member intends to do in the future
THORHILD, Alta. — Six years ago Harry and Barb DeWindt ordered their three daughters and families to a mandatory meeting at the farm with no hints about the topic. “We are all sitting around the table. One said, ‘are you dying?’ No, I just want to ask you one question all at the same time. […] Read more
Mediation is a common tool used for dispute resolution
Mediation is a dispute resolution process that many people choose or are required to participate in when they are involved in a legal dispute. In Saskatchewan, all civil lawsuits are required to participate in mediation once the claim and defence are filed. This mediation is provided through the province and is at no charge to […] Read more
Young farmers encouraged to build experience and equity
What’s the best way to have your children start farming? How do you compensate them? Many operations pay wages to children or young people working on the farm. This works great when your children are younger. If they aren’t sure about farming in the future, paying wages as a farm employee is simple and transparent. […] Read more
Conservation easement a family affair
Ranching couple waited to make a decision on a conservation easement until their children were old enough to participate
A decision to apply a conservation easement to about 2,000 acres of native grassland and protect it forever was put on hold until Terri and Brad Mappin’s teenage children could be part of the discussion. “It was something important for the kids to understand the implications of it,” said Terri. The family doesn’t know if […] Read moreThere are ways to efficiently farm with family members
Family farms, more than ever before, have been transitioning from generation to generation. In cases where the farm’s main goal is to continue operating for the foreseeable future, the structure of the farm business is vital. Many farm disputes happen between different family members (siblings, parent and child) owning shares in the same corporation. There […] Read more
Best transition plan is one that is implemented
Many farmers spend a lot of time developing what they think is the perfect plan but remain hesitant to put it into action
BRANDON — Farm families don’t need the best farm transition plan, they need the second best plan, said a farm management consultant. “Second best doesn’t sound very good. Nobody wants to be second, but if it means it is an implemented plan, then that is better. An implemented plan that gets changed and tweaked as […] 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
Estate planning is about more than just writing a will
It is important to recognize that estate planning is about more than just making a will. There are actually a number of factors that go into the creation of a successful plan.
