The underlying pressure of keeping a family farm legacy alive can spark a variety of emotions among siblings, potentially causing conflict that will affect the business.
Tag Archives transition
The emotional stakes of a farm family legacy
The final instalment in a six-part series exploring the challenges of sibling conflict and the effect it can have on the farm
Consider thinking strategically when renting or selling land
While it makes economic sense to rent or sell the land for as much as possible, thereby maximizing the return, it’s wonderful to see instances where retiring farmers are more strategic.
Variety of options available to manage separation, divorce
In Saskatchewan, there are a variety of process options that people may use to navigate separation and divorce.
Life’s transitions can be challenging but rewarding
From retirement to adapting operations, today’s farmers are making transitions; here’s how two farmers used them to grow
The agriculture industry is grappling with change, perhaps more than ever before, which is why it’s also more important than ever for farmers to understand how to successfully navigate transitions, both professional and personal.
Delayed capital gains tax changes can affect producers
Whether you are preparing to sell your property, looking to retire or strategically planning when to sell your investments, the recent conversations about the capital gains inclusion rate will inevitably affect many of your decisions.
Farm transition does not have to be a messy process
Farm transition is often characterized as a power struggle, but it doesn’t have to be that way, heard participants at a succession workshop held as part of the recent Canadian Federation of Agriculture annual meeting.
Good governance, respect help farm transitions
Kolk Farms has made sure strong procedures are in place to ensure that transition and succession are done properly
Transition is nothing new for the Kolk family of southern Alberta. Since the farm was established in the 1950s, it has moved from one generation to the next and one commodity to another.
Tax not sole basis for succession plans
A tax expert says how much tax one might have to pay should not be the first consideration when drafting a farm transition plan
No one wants to pay more taxes than necessary, but an expert says tax shouldn’t be the only thing people worry about when succession planning.
Farm transition service offered
Loft32, an agricultural communications company, has launched a new farm transition service. Called Farmers’ Bridge, it provides online training and assessments for families that want to develop a farm transition plan. A series of three to five minute videos feature experts answering common succession questions such as “what is Canada’s farm rollover rule” and “what’s […] 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 more
