Reading Time: 10 minutes The British press has given Welsh farmer Eirian Davies her own nickname, the “Cowshed Cinderella,” even though the court case that she brought against her parents, claiming they had reneged on a promise that she would inherit the family dairy farm, certainly didn’t have a fairy-tale ending. When the courts awarded a C$2.2 million settlement […] Read more
Courting disaster
When farm families end up in court, winners are few and very far between. Still, more and more families are ending up before a judge
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
Succession planning: Preparing for takeoff
How one Manitoba family's farm business succession plan is taking flight
Reading Time: 9 minutes Case Study Objective Four children in their late 20s and early 30s, all want to be part of this family farm and aerial spraying business. First Step The Parsonage family transferred ownership before operational management. The parents had used some of their capital gains exemption earlier when buying out of partnership, and about that time […] Read more
Estate planning and the legal system: Part 3
Guide Legal: If you wonder about challenging a will — don’t wait too long
Reading Time: 3 minutes If you are a beneficiary under a will, there is one thing you should know. If you believe you have been treated unfairly, voice your concerns immediately and take action. While you might feel inclined to assist in the administration of the will and collect your share of the assets, don’t. Otherwise, you may be […] Read more
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
A message from April Stewart, Country Guide's Associate Editor
