The Great Transition: Your Guide to Navigating Farm Succession, Wealth Transfer & Market Shifts

Canada’s farming community is facing an unprecedented intergenerational wealth transfer, with over 50% of farmers aged 55+ preparing to transition their legacies. In the Fall 2025 issue of Intelligent Farmer, we tackle the critical decisions shaping the future of your farm: when to transfer wealth, how to plan succession, and strategies to thrive amid market changes.

Download the full Fall 2025 issue of Intelligent Farmer today

When to Transfer Wealth: Lifetime vs. End-of-Life

• Transferring during your lifetime can support younger generations facing financial hurdles (e.g., student loans, home purchases) and allows you to witness how they manage responsibility.
• Retaining control until end-of-life preserves your operational influence but risks family conflict if not communicated clearly.
• Key takeaway: Proper planning and open dialogue are non-negotiable for a smooth transition.

Farm Succession Planning: Start Now

• Initiate conversations early to align family expectations and set a timeline.
• Choose successors wisely: Evaluate financial readiness, future visions, and dynamics among farming/non-farming children.
• Gather critical documents (wills, financial statements, insurance policies) and understand asset values.

Farm Incorporation: What You Need to Know

• Optimize tax benefits by choosing a non-calendar year-end (e.g., October for cash crop operations).
• Structure shares strategically (special vs. common shares) to maximize tax flexibility and family control.
• Work with professionals to navigate asset transfers and avoid pitfalls.

Renting Your Land? Protect Yourself

• Always use written agreements to define risks, expenses, and GST obligations.
• Cash rent vs. crop share: Understand how each impacts income stability, taxes, and AgriProgram eligibility.

Mental Health & Resilience: Your 3-Point Checklist

• Create a written farm business plan: 88% of farmers report reduced stress with a clear roadmap.
• Integrate mental health into your business culture: Support employees and family members with resources.
• Build community connections: Organizations like Do More Ag offer peer support to combat isolation.

Commodity Markets: Soybeans, Corn & Wheat Outlook

• Soybeans: U.S. policy changes boost domestic crush demand, but global trade tensions persist.
• Corn: Strong exports driven by competitive pricing, despite Mexico’s slow trade negotiations.
• Wheat: Global ending stocks tighten for the 6th year, signaling potential price volatility.

Don’t leave your farm’s future to chance.

Download the full Fall 2025 issue of Intelligent Farmer today for actionable strategies on succession, incorporation, mental health, and market trends.

RBC Dominion Securities Inc. | Lorkovic DeKoning Wealth Management