Reading Time: 5 minutes Advice on handling sibling conflict and the effect it can have on the farm
Sibling issues in farm succession
A six-part series exploring the challenges of sibling conflict and the effect it can have on the farm
How to develop a leader’s mindset at every stage of your career
Summer Series: Leadership looks different at every stage of your farm career. And the stories you hear, the ones you seek out or the ones you tell yourself all effect how you lead
Reading Time: 3 minutes From the time we are born stories help us learn important lessons. Every day I look around for stories that can help me understand what is or isn’t working on our farm. It might be small anecdotes or maybe a line from an employee or a supplier that sticks with me. If I can understand […] Read more
Can slowing down farm succession really work?
Summer Series: Designating more time to the farm transition process can mean less stress and more choices
Reading Time: 4 minutes When I ask farmers to guess how long it will take to complete a transition plan, they usually say one to two years. The reality is that it takes much longer. In a 2017 survey by Business Development Canada (BDC), five out of six entrepreneurs believed that the transition process can be completed in two […] Read more
How to talk about your farm succession estate plans
Summer Series: Estate planning is never easy — and more difficult still is the conversations you need to have with your family. But these conversations can be a great opportunity to teach the next generation about money, family relationships and how to make decisions together
Reading Time: 5 minutes You’ve worked hard your whole life and lived within your means. Now, you want your estate to help the future generation succeed — not create problems or heartache for your family. But if you want your estate to create a legacy of positivity, you’ll have to proactively communicate your wishes through an estate plan. Like […] Read more
Farm succession: Where to begin?
Thinking of farm transition as a short-term, quick deal that we must get right because we only get one chance can prevent us from even starting the process — and starting it off right
Reading Time: 3 minutes I recently polled farm managers about what big projects they were planning for this year. Half the respondents said succession was a priority; however, many indicated that they don’t know where to start. I look at it like this: if you’ve taken your child to the field, or they work alongside you, then you have […] Read more
Finding the right peer group for you
The right peer group can be a great way to gain insight into your business numbers and your management options. But where do you find that ‘right’ group?
Reading Time: 8 minutes Peer groups are quickly taking on a new life in Canadian agriculture. But these are different groups today, about as different from the coffee gang at your nearby Tim’s as the NHL is from the local old-timers’ league. There are still multiple types of these groups, focusing on financial or business management, perhaps, or succession, […] Read more
Farm transfer tax treatment bill now law, feds say
Government to add amendments against tax loopholes
Reading Time: 3 minutes Despite a previous statement from her ministry, Canada’s finance minister says a bill standardizing the tax treatment of farm transfers is now officially on the books. However, while Bill C-208 is now in federal tax law, further amendments are en route to plug legal loopholes the bill may have opened. Finance Minister Chrystia Freeland on […] Read more
Parliament rises as farm succession bill passes
Manitoba MP's private member's bill clears Senate
Reading Time: 3 minutes With the possibility of a fall election looming, MPs rose from the House of Commons on Wednesday, marking the end to a parliamentary session featuring a handful of laws impacting agriculture. Brandon-Souris MP Larry Maguire saw his private member’s bill, aimed at lowering taxes on the sales of farms and other small businesses, pass in […] Read more
Family farms: Recognition + Appreciation > Return on Assets
AME Management: Keep track of good old-fashioned sweat equity
Reading Time: 3 minutes Income is important in a multi-generational farm business, but sometimes the key that actually unlocks a farm’s prosperity has more to do with long-term clarity and its members’ sense of opportunity. Therefore, if you are the second generation (SG), you must ask yourself: “Do I have a career path to ownership? Or am I just […] Read more
The next farm generation steps up
On this farm, transition planning made real gains once the younger generation learned how to take their role in the process
Reading Time: 11 minutes Alec Boekhoven had turned over at 2 a.m., fretting about ways to reduce feed costs on his family’s 600-sow farrow-to-finish operation. Eventually he drifted off on the couch, which is where his son Evan discovered him and woke him up early. It’s why Alec brought his three-year-old with him to do chores, and it also […] Read more
A message from April Stewart, Country Guide's Associate Editor
