GFM Network News

“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

Resilient farmers vs. COVID-19: Producing good outcomes

Resilient farmers vs. COVID-19: Producing good outcomes

It takes self-sacrifice, persistence and loyalty to each other, but farm families are creating good outcomes from the COVID-19 pandemic, and they’re emerging stronger than ever

Reading Time: 5 minutes As we researched this series on resiliency during the COVID-19 pandemic, did families ever shine! During some of the biggest challenges of our generation, we saw the agriculture community step up, and we saw the theme of family resiliency appear time and again. Our clients were eager to tell us the good, and yes, the […] Read more

financial paperwork

Finance metrics you may not have thought of — measuring financial risk

AME Management Part 3: How balance sheets and operating statements help determine your exposure to risk

Reading Time: 3 minutes The first two columns in this three-part series focused on using the operating statement to monitor operating efficiency and to diagnose operating problems. In this column, we turn to the interaction between the balance sheet and operating statement to identify and manage financial risk. This is very topical currently because of concerns that lower grain […] Read more

life insurance policy

Life insurance strategies

These five strategies can be serious winners for farm corporations. But be prepared to do some equally serious homework

Reading Time: 5 minutes If everything is tied up in fixed assets when a major change happens, even the best-managed farms can stumble and fall. Debts suddenly become unmanageable, family farms get bogged down in the mud of unachievable succession, and estates get devoured by tax liability. Setting up a rational way to deal with these situations ahead has some […] Read more

man wearing baseball cap

Real-time financial management for farmers

Is it good, or too good to be true?

Reading Time: 5 minutes It sounds like a dream come true, placing current financial data at the fingertips of everyone involved in the farming enterprise so you can make better, more efficient on-the-spot decisions at critical crunch times. And it might not be a pipe dream any longer. “It’s just the way the world is working,” says Lance Stockbrugger, […] Read more

man doing paperwork at a desk

Family farm corporations on the rise

Depending on your farm objectives, building a trust into your corporation may be your best first step

Reading Time: 6 minutes The death of the family farm is widely bemoaned. Activists ask, “What do we really know about these corporations that produce our food?” As it turns out, it’s the same question that many farmers are asking themselves, although in a very different context. How can I be sure that my farm corporation is the best […] Read more