Articles & Resources
Estate Litigation: Who pays the legal bills?
An estate will normally bear the burden of all legal fees incurred by the executor for its administration, which includes not only fees for core services but also those paid to handle more complex matters, including when a dispute arises and litigation ensues. However, there are some exceptions to that general rule and, in addition, […]
Selling the Farm
It is never too late to incorporate your farm, even if done shortly before you stop farming. If you don’t have a successor to take over the farm, it is likely that an auction is part of your retirement plan. This means that there will be a year where you have a significant amount of […]
What happens to the family farm when the family breaks up?
When a farming couple separates, the breakdown of the spousal relationship can also have a significant impact on the family farm. Family farms are often businesses in which both spouses, and often children or other family members, play an integral part. The issues that arise upon a separation or divorce when a family farm exists, […]
Estate Planning & RESPs
Registered Education Savings Plans (“RESPs”) are a common tool for saving for your child’s post-secondary education. Under the RESP contract, the “subscriber” is the person or persons who have opened and contribute to the RESP. There may be a sole subscriber or joint subscribers. The “beneficiary” of a RESP is generally your child or your […]
How Much Cash is Too Much?
Having lots of cash is never a bad thing and can sometimes be hard to imagine after a very challenging year like 2021. However, for the purposes of the Income Tax Act (Canada), having too much cash inside of a farming corporation can be a problem and can result in the loss of certain tax […]
Protecting the homestead from a family property claim
The home quarter is an integral part of most farm operations. Not only do you typically find the farmer’s homestead on this quarter, but the quarter may also contain key buildings or fixtures. So, what happens to the home quarter if the farmer is going through a separation or divorce? Generally, family property legislation in […]