WORKSHOPS

Module #1; The Transition Framework, data collection & goal setting, how to quantify capital needs, understanding after-tax vs pre-tax income needs in retirement. 

Module #2; Identifying, quantifying farm & retirement assets, optimizing entitlements. Connecting with Service Canada, understanding your Statement of Contributions, CPP/OAS options, RRIFs & pension income credits.  Managing multiple income streams. 

Module #3; Understanding Marginal Tax Brackets, Exploring Business Structure & tax minimization strategies. Financial Statement fundamentals.  

Module #4; Successor Development, managing expectations, partnership & inter-spousal agreements. Business control, management and ownership transfer strategies. Understanding life insurance. Wills, Successors and minor children. Successors preparing for future successors.

Module #5; Exploring Retirement & Succession Options, understanding key advisors, accountants, lawyers, investment and life insurance advisors. Understanding how investment and insurance advisors are compensated. 

Module #6; Communicating with non-farming children. Communication break down and the value of  mediation. Implementing & Monitoring your Plan

Module #1; The Transition Framework, data collection & goal setting, how to quantify capital needs. Selling to  a stranger or preserving a legacy by selling to a neighbour? Exploring exiting options.  Visualizing retirement activities and including learning & physical fitness . Non-traditional retirement, volunteering for seniors overseas.

Module #2; Identifying, quantifying farm & retirement assets, optimizing entitlements. Connecting with Service Canada & understanding CPP/OAS options, RRIFs & pension income credits. Understanding after-tax vs pre-tax income needs in retirement.  Managing multiple income streams.

Module #3; Understanding Marginal Tax Brackets, Exploring tax minimization strategies; Defer, Deduct, Divide, Exit & Retirement Options, visualizing next steps. Compare selling vs renting, crop share and joint ventures.  Compare being paid out over time to one or two lump sum payments.

Module #4; Implementing your plan with key advisors, accountants, lawyers, investment and life insurance advisors. Understanding how investment and insurance advisors are compensated. 

Module #1; Estimating net after tax estate values, tax minimization strategies, life insurance and life insurance trusts, understanding the probate process, estimating probate & legal fees. Implications of joint names on land, savings and principal residences; the Good, Bad & the Ugly.

Module #2: Your Estate Matters (Estate distribution, equal vs fair). Why wait to distribute an estate, can sooner be better? Will preparation; selecting an appropriate attorney, the value of reviewing your plans with your accountant, and selecting the right executor(s). Wills and The Family Property Act.

Module #3; The difference between Legal and Ethical Wills and Explanatory letters, Powers of Attorney & Healthcare Directives.

Module #4; Getting it Together; Death Binders; Wills & Powers of Attorney(copies & where to find originals), investment statements, and banking information, life insurance policies, birth certificates, passports, corporate minute books, land titles, passwords & user names. Communicating/articulating your plans to beneficiaries & executor(s).