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.
• 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.

RBC Dominion Securities Inc. | Lorkovic DeKoning Wealth Management | www.lorkovicwealth.com