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07/07/2025

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Tag Archives succession

Seven rules of behaviour for family farm teams
General

Seven rules of behaviour for family farm teams

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When the next generation comes home, Elaine Froese says families can set up some rules of engagement right away so everyone knows and can operate within that culture. When new people join the team, it can help to clarify expectations. “Culture is the invisible glue that holds the farm and the family together. It is[...]
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Add one more harvest worry to the list — the prospect of higher taxes. But experts say a personal pension could reduce that hit and provide a host of other benefits.
News

Worried about federal tax changes? There’s an alternative, say experts

Federal Liberal bid to close ‘loopholes’ will increase taxes on most 
farm corporations, but there’s a way to avoid that hit

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Reading Time: 3 minutes Proposed federal tax changes aimed at ‘income sprinkling’ and other tax reduction measures used by corporations — including those owned by farmers — have ignited a storm of controversy. But there are “a lot of other tax strategies” that farmers can use, say financial planning experts. In July, federal finance officials announced proposed changes to[...]
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Larry Martin. Photo: Supplied
General

8 management practices of successful Canadian farmers

In our CTEAM program and other activities, we get to meet a range of Canadian farmers, and often we have the opportunity to assess their success both financially and personally, in terms of their ability to meet or exceed personal and family goals. Several characteristics of these successful people become obvious rather quickly. Not all[...]
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General

Coming to the table to talk about farm transition

Farmers often stop me in the hall of conferences to ask deeper questions that are keeping them awake at night. The most common question is, “Elaine, how do we even get people to the table? My parents are refusing to talk, and my grandparents are even more stubborn!” Farm families are stuck because they give[...]
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News

Workshops on succession planning

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Reading Time: < 1 minute Alberta Agriculture is sponsoring two-day farm transition and succession workshops in January and February. “The January session will be led by the Alberta Business Family Institute,” said provincial farm business management specialist Dean Dyck. “Topics include gathering information, evaluating financial needs, designing a succession and estate plan, and family communication.” Day 2 in February will[...]
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Merle Good has found a new way to pass on the farm that minimizes taxes and risk — but make sure you talk to a tax specialist first, said the farm business management expert.
News

A new way to pass on the farm that may let you sleep easier

An intercorporate loan can protect retirement income, give the successor 
more control, and take care of non-farming children

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Reading Time: 4 minutes [Updated: Dec. 12, 2016] – Merle Good has a new piece of estate planning advice for Canadian producers: “Create a damn shareholder’s loan.” “This isn’t a new idea, but it isn’t done as frequently as it should be,” said the farm business management expert. “This strategy allows us to do a lot of neat things[...]
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Livestock, News

Succession planning offered at Cow-Calfenomics

Cow-Calfenomics to be held in five locations from Nov. 1 – 9

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Reading Time: < 1 minute The theme of Cow-Calfenomics 2016 is Managing Uncertainty in Alberta’s Cow-Calf Sector. “This year we have a great lineup of speakers to discuss trending farm business topics in the cattle industry,” said farm financial specialist Rick Dehod. “For an example, Shauna Feth, executive director of the Alberta Business Family Institute, will be speaking on Transition[...]
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They grow up fast and that’s why farm families need to start planning early for succession and the tricky problem of how to transfer land.

News

The dilemma of transferring land

FarmTech: The successor needs land to farm, but the parents need money for retirement and a way to keep everyone happy

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Reading Time: 3 minutes There’s a perfectly good reason why so many farmers are reluctant to hand the reins to the younger generation. “With land, you need it for the farm and you need it to run the business, but it’s also your largest contributor to the family wealth,” said Greg Gartner, a partner at Moodys Gartner Tax Law[...]
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Mike Kozlowski (left) and Blake and Angela Hall with son Hawksley (right) have partnered with Tom and Margaret Towers in a unique approach to succession planning.
Beef Cattle, News

Preserving the family farm — with people who aren’t family

Veteran ranchers partner with young producers who don’t own an acre but are keen to have a farming career


By
Reading Time: 4 minutes Tom and Margaret Towers were looking to downsize their cattle operation when they went on Kijiji in search of grass-finished beef to add to their reduced herd. Instead, they found Blake and Angela Hall, a young couple in need of a long-term solution to their land troubles. Together, the couples started the Tamara Ranch Project[...]
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