Cbc video on farm transfer

[GDR]

https://gem.cbc.ca/media/media/short-docs/episode-170/38e815a-011451e9a1e

Video is a bit slow but general idea is nice. Old single farmer helping a young couple take over his farm because he didnt have family that wanted too. Don't know why more guys don't try to make it happen. For some its just a business asset but for most a farm is everything.

[hobbyfrmr]

https://gem.cbc.ca/media/media/short-docs/episode-170/38e815a-011451e9a1e

Video is a bit slow but general idea is nice. Old single farmer helping a young couple take over his farm because he didnt have family that wanted too. Don't know why more guys don't try to make it happen. For some its just a business asset but for most a farm is everything.

Did they highlight the generational land transfer to Input Capital Corporation?
I lost track but it has to be around 20 million in their favour by now.

[grassfarmer]

https://gem.cbc.ca/media/media/short-docs/episode-170/38e815a-011451e9a1e

Video is a bit slow but general idea is nice. Old single farmer helping a young couple take over his farm because he didnt have family that wanted too. Don't know why more guys don't try to make it happen. For some its just a business asset but for most a farm is everything.

Resonates very much with me and it's a practice that will have to become more common with the ageing demographic on the farm.

[bucket]

You guys ever notice how one generation never takes the reigns?


Sometimes it goes from grandpa to grandson....or when grandpa retires so does the son and grandson...

[westernvicki]

I love fairy tales.

If you find someone like this drop me a line, I will help find a worthy recipient of the benevolence.

[ajl]

I am wondering if young Jon is paying Jim current inflated market value for his farm? It will take several generations then to pay for it and start making profits off of it.

[bucket]

I am wondering if young Jon is paying Jim current inflated market value for his farm? It will take several generations then to pay for it and start making profits off of it.

To some people it's not about money...if there is no generation and the old guy is comfortable. ...maybe he doesn't need millions...

[GDR]

To some people it's not about money...if there is no generation and the old guy is comfortable. ...maybe he doesn't need millions...

Agree, you cant take it with you, and by the time most are old enough to quit any non farming children are likely far enough along in life to not need a mighty inheritance. Instead of buying the old guy out if the young guy basically were to provide a living allowance for life of the older generation wouldn't that be good for everyone.

[grassfarmer]

I love fairy tales.

If you find someone like this drop me a line, I will help find a worthy recipient of the benevolence.

I know of several in progress actually. We are involved in it ourselves in a small way. Here is the article some were alluding to a while back on our story. Not to boast but to get more people thinking about a succession model I think is critical if we are to keep family farms alive on the prairie when the current generation need to transition out.
http://www.country-guide.ca/guide-business/the-way-it-happens/ http://https://www.country-guide.ca/guide-business/the-way-it-happens/

[farmaholic]

I got the warm fuzzy CBC feeling when I watched it last night, it must have been the liquor though!

Kinda a bit of a fantasy though, by far the exception not the rule. Bet it rarely ever happens.....BUT....

My buddy(a bachelor with two siblings and one niece) who died of brain cancer in April had 6 quarters of grain land, he sold one to the local BTO, sold 4 to his first cousin and willed the home quarter to some one completely "unrelated", not even a "lifetime" friend. People in the community are a little puzzled.

I respect his decision but don't understand it. His family, ESPECIALLY his sister, helped him alot since his diagnosis and deterioration. Even other people in the community stepped up and helped him stay in his own home as long as he could, which was up until the day before he died. So yes, "stranger" things have happened. This guy inherited a property probably worth about $600K+....