GFM Network News

Accidents and other medical emergencies could leave you unconscious or otherwise unable to make your own health care decisions.

Have a plan in place before it’s too late

What every farmer needs to know about health care directives

Reading Time: 5 minutes When the topic of estate planning comes up, the first notion that pops into our heads is how we will divide our assets after we’re gone. That’s important, of course, but an estate plan also include important documents like a health care directive that might be essential while you’re still alive. A health care directive […] Read more

Estate planning when you have no heirs

Estate planning when you have no heirs

These strategies ensure your hard work in this world creates a meaningful legacy when you’re gone

Reading Time: 5 minutes If you’ve put off writing a will, you’re in good company. A report from the Angus Reid Institute has found that more than half of Canadians have no estate plan. Canadians who don’t have a will typically blame it on the high legal costs, but Bud Arnold, CPA and tax partner with Baker Tilly Canada, […] Read more

“Estate planning was much simpler 10 to 20 years ago,” says wealth management advisor Brent Dekoning. In fact, tax changes in even the last couple of years can expose the farm to huge costs.

Five new trends in estate planning

It’s easy to feel like everything is under control. After all, you signed your will years ago. So everything is great, right?

Reading Time: 5 minutes Canada is in the midst of a massive intergenerational transfer of wealth with the owners of trillions of dollars in assets thinking they’ll pass all that wealth on to their children. Despite this historic handoff from one generation to the next, the Investment Planning Counsel reveals that few Canadians have discussed their investment plans with […] Read more

Tips on planning a lasting legacy

Seven things you need to know about including charitable giving in your estate plan

Reading Time: 5 minutes When retired farmers Scott and Laura-Lee Lewis of York, P.E.I., shared their plans to bequeath $500,000 from their life insurance policies to two local charities, their generosity made national headlines. In a 2019 article in The Charlottetown Guardian about their planned giving, the couple said, “As business owners, we felt giving an insurance policy was […] Read more

Last Will and Testament

Estate planning and the legal system: Part 2

Does your will protect your wishes?

Reading Time: 3 minutes In an age when contracts are often the size of phone books and legal battles are fought over the fine print, people often question whether the old-fashioned handshake or verbal agreement still exist. The answer is yes. In fact, not only do oral contracts still exist, but they have the power to displace written contracts, […] Read more

Sound accounting advice may help you make major donations with an affordable net cost to the farm.

Smart farm strategies for charitable giving

New tax laws and innovative financial strategies give you new ways to make donations with real impact

Reading Time: 5 minutes With fewer farmers facing an insatiable number of organizations needing time and money, the decision of how much to give to whom is getting tougher. What do you want your money to do? How much should you give and when? What are the tax benefits? For many farmers, there’s also the question of how best […] Read more