New estate planning tool helps with Canadian farm transitions

Dec 13, 2023

FCC launches innovative will and estate pre-planning tool for Canadian farmers

We know it is the holidays, and you don’t want to be talking about Estate Planning. But the holiday season should remind you of how much those you love mean to you, and that you want to ensure they are well cared for in the future.

Farm Credit Canada (FCC) has taken a significant step in aiding Canadian farm owners with the launch of a new Will and Estate Pre-Planning Tool. This innovation, adapted from Dr. Tom Deans' Willing Wisdom Index platform, is tailored to meet the unique needs of the agricultural sector, emphasizing the crucial yet often overlooked aspect of estate planning in farming families.

This tool is designed to provide producers with a starting point for contemplating the future of their operations. By answering a series of questions, farm owners receive personalized recommendations and a checklist, highlighting their estate planning strengths and identifying any gaps.

This immediate feedback is a game changer in the agricultural industry, where discussions about will, and estate planning are notoriously difficult to initiate.

Dr. Tom Deans, a renowned intergenerational wealth transfer expert, emphasizes the emotional bond farmers have with their land and business, making the transition process intensely personal and often challenging. The tool aims to break the ice, encouraging families to start these critical conversations.

The Will and Estate Pre-Planning Tool is not just a standalone resource but a complementary element to the FCC’s Advisory Services. It equips producers with vital insights and preparatory questions for their advisory meetings, simplifying the overwhelming task of estate planning.

Greg Thomarat of FCC highlights the tool’s role in facilitating early discussions, preventing potential misunderstandings and conflicts. The tool is free, anonymous, and confidential, offering actionable steps for immediate implementation. Producers can revisit the tool to track progress and update their plans.

The introduction of this tool is a step forward in addressing a crucial but often neglected aspect of farm management. It not only simplifies the estate planning process but also fosters healthier communication within farming families, thereby ensuring the smooth transition and sustainability of Canadian farms.

Video: New Solution Powers Efficient Pork Growth

Alltech has introduced Olerix, an innovative phytogenic blend created to promote growth and feed efficiency in pigs. Through a proprietary coating process, the bioactive blend of phytogenic compounds used in Olerix is designed to outlast the manufacturing process, ensuring consistent outcomes from feed to finish. The result is a high-impact efficiency solution that provides consistent support for gut health, feed efficiency, immune function and growth performance. Olerix is backed by validated trials conducted under modern pork production conditions.

“As the industry searches for technology to drive profitability forward in a more sustainable manner, we’re thrilled to join that effort with our Olerix technology,” said Mark Hulsebus, general manager for U.S. pork at Alltech. “Our work in this phytogenic space is yielding very encouraging results, and we’re excited to make this new opportunity available to pork producers focused on optimizing feed efficiency and growth rates.”

“Olerix represents the next generation of phytogenic technology — combining feed efficiency, livability and immune support into a practical commercial solution producers can implement today,” said Andy Rash, U.S. monogastric director at Alltech.