Agriculture has become a complicated business, filled with many legal and tax related problems. As time goes on the handshake deals become more and more risky as the disputes go to court and cost considerable amounts of money.
Our lawyers offers an exceptional depth of experience and appreciation for farm related problems. A lawyer can help with:
- Ensuring the transfer of agricultural land is completed properly;
- Advising on the type of ownership which best suits your agriculture organization (i.e. sole proprietorship, partnership, corporation, etc.);
- Drafting the best type of lease/ agreements for your operation (i.e. custom agreement, grazing land, crop share, etc.)
- Advising on your succession planning (i.e. providing tips and suggestions to best transition your organization to subsequent generations)
- Advising on your estate planning to maximize on the management and distribution of your estate (i.e. ensuring that your organization is prepared for the expenses associated with your passing)
We wish to fully understand your personal circumstances to ensure that your problem is resolved in the most efficient and reasonable manner possible.
When considering whether you may need legal assistance consider the following:
Purchase and Sale of Agricultural Land
Has the agreement been properly drafted? Did I take into consideration the tax implications of purchasing/selling the farm land? Is GST applicable? Do we have to pay capital gains? Etc.
What impacts can this have on the organization? What protection do the parents have if the child sells the property? What happens to the children who are not part of the organization?
Wills and Estate Planning
How can we ensure the farm’s viability in the future? What about the children who are not part of the organization – how are they compensated from the estate? Are there risks of legal actions against the estate (i.e. wills variation claims or unjust enrichment claims)?
Structure of the Organization
Some organizations are incorporating. Should you? We work with the accountants to ensure that your organization is structured to best fit your goals. What works for your neighbors may not necessarily work for you.