Learn how one family created a farm transition plan that gave them a clear roadmap for future operation success.
Their grandfather's retirement and an open transition conversation helped brothers Bryan and Kyle Maynard build a successful operation with room to grow.
When times are good, the division of what's fair, right and equal in farm transition can be a challenge for farm and off-farm children.
Farms are expensive. For families in transition, ensuring the next generation has enough capital to buy the farm while leaving the previous generation with enough to retire can be challenging.
Farm business owners can choose from a number of valuation methods to make good decisions around the value of their operations.
The following fictional case study, created by BDO Canada, illustrates how the absence of a farm transition plan can throw a family into turmoil when the unexpected happens.
In this BDO Case Study, we look at a farm transition scenario where a childless farm couple find a lucrative option of transferring the farm to their employee.
Farmland, equipment and quota values have appreciated dramatically over the past decade, altering the dynamics for transferring a farm to the next generation.
The Langlois family’s farm transfer success story began in 1667. 11 generations later, the y continue the tradition of giving , not selling to the next generation.
In most farm transfers, it's almost impossible for the incoming generation to pay full value for the farm's assets. How does your transition preparation deal with this?