Cultivating Business The official publication of the Canadian Association of Farm Advisors 2016-2017 Canada Post Mail Publications Agreement Number: 40609661 With Compliments Of: CAFA Members: The Most Valuable and Trusted Farm Advisors2016-2017 / www.cafanet.com 5 MESSAGES 7 A Message from CAFA’s National Chair 9 A Message from CAFA’s Executive Director 10 CAFA Event Information and Membership Details FEATURES 12 That’s Not Your Land Anymore: Understanding Your Corporation as a Separate Legal Entity 14 The Intersection Between Family Law, and Farm and Estate Planning 17 Gender and Family Business Succession Planning 18 Administration of Your Estate: It Can be Easy or Hard, the Choice is Yours 19 Thinking Outside of the (Gift) Box SPECIAL SECTION 20 2016-2017 Canadian Farm Advisors Resource Guide 20 Alberta 21 British Columbia 21 Manitoba 23 Ontario 31 Saskatchewan 33 Associates 34 Student 42 Buyer’s Guide Cultivating Business contents Published By: Matrix Group Publishing Inc. Return all undeliverable addresses to: 309 Youville Street Winnipeg, Manitoba R2H 2S9 Toll-Free: (866) 999-1299 Toll-Free Fax: (866) 244-2544 www.matrixgroupinc.net Canada Post Mail Publications Agreement Number: 40609661 President & CEO Jack Andress Operations Manager Shoshana Weinberg sweinberg@matrixgroupinc.net Publishers Peter Schulz Jessica Potter Editor-in-Chief Shannon Savory ssavory@matrixgroupinc.net Senior Editor Alexandra Walld awalld@matrixgroupinc.net Finance/Administration Pat Andress, Nathan Redekop, Lloyd Weinberg accounting@matrixgroupinc.net Director of Circulation & Distribution Lloyd Weinberg distribution@matrixgroupinc.net Sales Manager Neil Gottfred Sales Team Leader Jeff Cash Matrix Group Publishing Inc. Account Executives Andrew Lee, Bonnie Petrovsky, Brian MacIntyre, Colleen Bell, Dan Brennan, David MacDonald, Donna Krickovic, Frank Kenyeres, Jim Hamilton, Kevin Harris, Krystal Miller, Matt Potts, Renée Kent, Rick Kuzie, Rob Gibson, Roxanne LaForme, Sandra Kirby, Thomas Watson, Tylure Lincoln Advertising Design James Robinson Layout & Design Travis Bevan ©2016-2017 Matrix Group Publishing Inc. All rights reserved. Contents may not be reproduced by any means, in whole or in part, without the prior written permission of the publisher. The opinions expressed in this publication are not necessarily those of Matrix Group Publishing Inc. Printed in Canada. Cultivating Business Published For: Canadian Association of Farm Advisors Box 270 Seven Sisters Falls, Manitoba R0E 1Y0 Toll free: (877) 474-2871 Direct: (204) 348-3578 Cell: (204) 340-2500 Email: info@cafanet.com CAFA’S NATIONAL BOARD OF DIRECTORS Amanda Hammell National Chair RBC Royal Bank Hanover, ON George Sinker Vice Chair George E. Sinker Law Office Michael Bossy BNG Bossy Nagy Group, Chartered Professional Accountants Tillsonburg, ON Peter Boys Boys Financial Services, Red Deer, AB Chris Corbett FarmLink Marketing Solutions Melfort, SK Sidney Cumming AccuPro Real Estate Appraisals & Consulting Grande Prairie, AB James Fehr RBC Royal Bank Steinbach, MB Kim Gerencser K.Ag. Growing Farm Profits Inc. Regina, SK Stan MacEwen Laskowski Wright Chartered Accountants Saskatoon, SK John Mill Shared Enterprise Institute Toronto, ON Jim Soldan The Family Furrow Chilliwack, BC2016-2017 / www.cafanet.com 7 National Chair’s Message F or those of us involved in the agricultural industry, we know this past year has been challen- ging to most sectors; record low beef prices, drought conditions in Eastern Canada and flooding in some areas of Western Canada, declining milk prices and softening commodity prices. And, after reading all of that, one would think to themselves, who would want to be a farmer? I immediately thought of the Super Bowl commercial that was extremely popular a couple of years ago, “So God Made a Farmer” written by Paul Harvey. While Harvey praises farmers for many things, the essence of the comments were around how hard they work. As farming operations continue to evolve and you need an above average work ethic, you also need to be developing the skills and knowledge that will help your business grow, change or transition. In today’s business environment, hard work will only get you to the front gate. As an organization, it is important for our advisors to participate in activities that can add value to our farm clients and our other members. Our strategy over the last year has been to develop new value-added conferences, such as our Updated Farm Tax Seminar and our Succession planning conference, which highlighted the three model circle. These conferences were successful and planning is well underway for our 2017 conference year. As an organization, we felt it was necessary to increase our level of ENGAGEMENT and we hope that many farm advisors felt after our conferen- ces. The definition of EMPOWER is to make someone stronger and more con- fident. Our goal as an organization is to increase the skills and knowledge of farm advisors to better assist their farm family and business clients. Like any or- ganization, as members you will get out of the organization the time and effort that you put in. And finally…ENERGIZE. Being in- volved in the agricultural industry is not just a job to many of us. It is about community and teaching our children the morals and values we were raised with. We need to increase our level of energy when it comes to business de- velopment, volunteerism and establish- ing goals. As CAFA members, we spend a great deal of time discussing goals, strategies, missions and vision state- ments with our farm clients, and as an organization we took some time this fall to do the same thing for our business. As a board, we gathered in Winnipeg to develop ideas and for- mulate what our organization will look like in three, five and 10 years. Change is constant, and the way our clients’ wish to do business now is more than likely going to evolve and change. As farm advisors, we have to ensure we are equipped. As we settle in to the winter months, we realize this is a time where, as farm advisors, many discussions happen. I want to encourage you to share your CAFA designation wherever you can. We want to make the brand as strong as we can so we become recognized as highly rated farm advisors. If you are presenting or at any meetings you may attend, proudly display that you are a CAFA member. After all, it is our mission to continually improve the quality of ad- vice being given to farm producers and their families. I encourage you to view our website as we have continuous updates with regards to upcoming conferences and meetings. And be patient, we are con- tinually upgrading our website. Thank you to our members who have been part of this organization for the last 15 years and thank you on behalf of the farm clients you have assisted. As you transition into 2017, be sure to ENGAGE in conversation, EMPOWER other farm advisors to join our organization and ENERGIZE our existing members about all the great reasons to be involved in the agricultural industry and work with our farm clients. Amanda Hammell National Chair Engage, Empower, Energize CAFA National Board of Directors 2016- 2017. Front Row (right to left): Kim Gerencser, Peter Boys, Stan MacEwen, and George Sinker. Back Row: Chris Corbett, Amanda Hammell, Michael Bossy, Jim Soldan, John Mill, Myles Pouteau, and Sid Cumming. Missing: James Fehr. ank You to the CAFA Board!2016-2017 / www.cafanet.com 9 T his past year, the CAFA Board made a key decision to hire Synthesis Agri-Food Network to help CAFA prepare for future growth. They conducted a member survey ask- ing members about their expectations of CAFA and compiled the results in a report. The Board met to discuss the results in November in an intense two-day strategy session. The time was well spent and I am enthusiastic about the dir- ection the board has determined CAFA should go. This past year, CAFA developed its Farm Update series on Tax, Succession, Management and Focus on Women Farmers. All provided first class professional development for farm advisors, filling a substantive void for professionals to hone farm-focused skills and knowledge. CAFA will continue to develop powerful pro- fessional development updates for farm advisors, adding more topics to recognize CAFA’s multi-disciplinary make-up. CAFA will facilitate its members’ ability to organize new chap- ters and manage them in a sustainable way. There is an evi- dent need—at the grassroots level—to have greater access to the education and networking that regular local meetings offer. Watch for new CAFA chapters in Truro, N.S. and Yorkton, Sask. in early 2017. CAFA is primarily a membership-funded organization. How- ever, achieving genuine success is not a solo effort. CAFA has sponsorship support at the national, provincial and Updates lev- els from some leading organizations in the farm sector. Their part- nerships with us are most appreciated and merits recognition. National Sponsors • Country Guide magazine provides CAFA with national advertising to some of Canada’s leading farm managers, with well researched articles that are “Strategic. Business. Thinking.” CAFA is pleased to offer an annual subscription for all our members. • Farm Credit Canada has been a national sponsor since 2004 and invites CAFA members to be involved in their Ag- Knowledge events as presenters and participants. We look forward to the continued partnership going forward. • FarmMarketer.com is a leading website dedicated to farm, ranch and rural property sales in Canada and provides CAFA with national promotion of events on their website. Ontario Sponsor • Allied Associates LLP, Chartered Professional Accountants have been a provincial sponsor since 2006. They know the value in having their partners and managers stay current and connected through the local chapter networks and provincial updates. Update Supporters Then there are the many firms who are key Update support- ers at varying levels. Thank you to the following: • Agri-Food Management Institute is a Platinum Sponsor for the Farm Succession Update being held in Ottawa on March 23, 2017. Please visit their website at www. takeanewapproach.ca. • Collins Barrow LLP is a Gold Sponsor and has supported our Farm Management Update in Woodstock, Ont. and the Manitoba and Alberta Succession Updates. Google their descriptive farm succession infographic! • Agri-food Management Institute and Farm Management Canada have sponsored the AgriWebinars® for our Ontario Farm Tax, Succession and Management Updates so that the professional development can be accessed across the country. • Abundance Canada, previously Mennonite Foundation of Canada, have become strong supporters of our Farm Suc- cession and Tax Updates as charitable giving is often a goal in farm succession plans. • Lakeview Insurance Brokers, a growing agricultural in- surance provider in Western Canada, bought everybody coffee, morning and afternoon, at both the Manitoba and Saskatchewan Updates. • Bonnefield continues their sponsorship of various provin- cial CAFA events as they preserve “farmland for farming” by offering a number of tools for farm advisors and farmers. • Matrix Group Publishing Inc. continues to support CAFA’s AGM in Manitoba and continues to provide CAFA with this great publication that’s in your hands right now. As you review this magazine, read the articles that are summaries of past Update presentations and appreciate the calibre of our current membership—consider the value of CAFA membership to your own practice. “CAFA members are the most valuable and trusted farm advisors in Canada” is the title of this article, but what it really is, is CAFA’s refreshed Vision Statement. Be part of it! Liz Robertson CAFA Executive Director Executive Director’s Message e Most Valuable and Trusted Farm Advisors in CanadaNext >