Reading Time: 13 minutes Rob Saik is excited. He can hardly hold back as he explains the succession plan he used when he sold his own company, Agri-Trend, a few years ago. Saik had two big goals. As an ag consultant and entrepreneur, he needed financing for his newest venture, the agricultural advisory network called AGvisorPRO, but he also […] Read more
A ‘next’ solution?
[The "Next" Issue] More farmers are looking for a new strategy so they can set the next generation up with a viable farm while also supporting their non-farming children. Could this be it? Maybe, it seems, but it takes some effort to figure out whether setting up this kind of tax-free zone will benefit your farm
A co-trustee’s responsibility
Guide Legal: If asked to serve as a co-trustee, be aware that acting as a rubber stamp will not protect you if things go wrong
Reading Time: 4 minutes When drafting a will, parents often name more than one of their children as the trustees of their estate. Given the dynamics between siblings, it is not uncommon for one child to take on a more active role than another in administering the estate. However, in a recent decision, the Court of Appeal for Ontario […] Read more
Compare and consider income replacement insurance
During their careers, one in three Canadians will be sidelined for 90 days or more by injury or disease. Are you prepared?
Reading Time: 8 minutes Most farmers insure their buildings, vehicles, equipment and other farm assets. Many insure their crops and livestock. Increasingly, farmers also use risk management strategies to insure a price they will receive for the commodities they sell. However, few farmers insure what may be the biggest risk to the farm; the inability for the farmer to […] Read more
Life insurance strategies for your farm
These 5 strategies can be serious winners -- but be prepared for 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 […] Read more
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
A message from April Stewart, Country Guide's Associate Editor
