Thousands of Canadian farmers will reach the age of 65 in the next decade and will be considering retirement. Given the complexity of the issue and the time required for certain aspects of the plan to be realized in this process require an early start to the planning process. There are many questions to be answered when a farmer considers retirement from his or her farm. From the financial requirements of the retiring farmer and family to methods of transferring the farm to the impact of rollovers, capital gains and probate, completing a farm financial plan can be very time consuming. Proper financial planning is an extremely important area for you and your family – and one that should not be overlooked. As a Certified Agriculture Farm Advisor, I can assist you in preparing and executing farm financial plans and succession plans.
Here are some articles on Farm Financial Planning and Succession Planning: Farm Succession Planning – Canadian Farming Article, Tax Planning for the Family Farm