{"id":1188,"date":"2021-06-23T09:30:01","date_gmt":"2021-06-23T09:30:01","guid":{"rendered":"https:\/\/financialcare1.ca\/?page_id=1188"},"modified":"2022-01-28T05:10:55","modified_gmt":"2022-01-28T05:10:55","slug":"farmers-ranchers","status":"publish","type":"page","link":"https:\/\/financialcare1.ca\/farmers-ranchers\/","title":{"rendered":"Farmers & Ranchers"},"content":{"rendered":"\t\t
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Farmers & Ranchers<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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Protect your interests, protect your farm.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t

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Farmers<\/h1>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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Our team historical roots are in the Farming and Business communities, and therefore understand the stresses, and rewards of their labour(s). Former chair of CAFA (Canadian Association of Farm Advisors for the Calgary \u2013 Red Deer Chapter). CAFA is a not for profit association dedicated to the education and success of the Farming and Ranching industry.<\/p>

Our team will provide clarity where there is complexity, present an easy to understand quality financial plan with built-in solutions to your needs while maintaining harmony in your family circle when transferring to the next generation.<\/p>

We believe that all Farmers and Business Owners are unique and deserve a well thought out, and comprehensive road-map which we will review regularly and update all as needed.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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\n\t\t\t\n\t\t\t\t\t\t\n\t\t\t\t\t\tClient Testimonials<\/span>\n\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t
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FAQ<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t
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Are you the right fit? Find out… Click Here<\/a>.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

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It is never too late to plan your financial future,\u00a0Start Now!<\/strong><\/b><\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t

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Given our experience and expertise, every operation should have a minimum of three, maximum could be five to seven, depending on the size of the farm operation. Some have additional relationships such as Bankers, Agronomists, Risk managers, Cfo\u2019s, and so on.<\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t

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Every successful farmer will need an Accountant, and or a CPA, a Financial Advisor, and Lawyer.<\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t

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Many assume that an Accountant or CPA, is a Financial Planner; however, their purpose can be quite different, unless they have their CFP or relevant designation.\u00a0You should seek clarification as what services they provide? In most cases, they only provide accounting & tax planning services.<\/strong><\/b><\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t

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\n\t\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/i><\/span>\n\t\t\t\t\t\t\t\t<\/i><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t What is the role of a Financial Advisor?<\/a>\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t

A Financial Advisor has many roles. In today\u2019s world,\u00a0many financial advisors only provide Investment & Insurance products, when, in fact, there are six or more key planning disciplines. It is our firm belief that all farmers should receive complete holistic advice.<\/strong><\/b><\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t

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Tax Planning, Cash \u2013 Flow, Education, Debt, Investment, Insurance, Retirement, and Estate, Farm Succession.\u00a0\u00a0Peters Wealth Management provides a comprehensive financial plan.<\/strong><\/b><\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t

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Peters Wealth Management does not charge a fee for building a holistic financial plan. Consultations provided at no cost, no obligation to all.\u00a0\u00a0Full financial disclosures provided transparently and at the time of any transaction executed at the request of the client.<\/p>

Farm Succession and transfer of wealth from one generation to the next requires the involvement of Farm Planning Specialists, CPA, and Estate & Planning Specialist, which is provided to you by Peters Wealth Management.<\/p>

*CPA and Legal services are an independent value chain of advice; therefore, the cost of these specialists, are subject to their Fee schedules.*<\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t

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\n\t\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/i><\/span>\n\t\t\t\t\t\t\t\t<\/i><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t What is your Risk Management, Exit Strategy, for your Farm \/ Corporation? Are you protected, and Why Should I have a Buy-Sell?<\/a>\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t

Without a buy-sell agreement, you could find yourself sharing the reins of your LLP or corp with your former partner\u2019s spouse, children, or someone else. Would you want to be in business with someone who knows little about your business and does not have skin in the game?<\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t

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A buy-sell agreement in basic terms, is an exit strategy for you and your business partners. It can protect you, your family, and partners, because it sets ground rules for how ownership shares should be dealt with or restructured, should you, or one of your partners leave the business.<\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t

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If you ever need to act on your buy-sell agreement, the money will change hands. Do you have a cash account set aside for this purpose? Sources of revenue could include cash, CSV, installments, or collateral loans. Many shareholders and partners utilize life insurance as a cost- and tax-efficient solution. Cash values, also known as CSV, are available. If an entity-redemption agreement is in place, the Entity, LLP, or Corporation purchases individual life insurance contract on the lives of each owner. The entity then funds the monthly or annual premium and is both the owner and beneficiary of the agreement.\u00a0\u00a0When an owner of the policy passes away, the LLP, Corporation, an or Entity uses the income-tax-free sheltered death benefit to purchase the deceased owner\u2019s shares. A cross-purchase buy-sell,allows each owner to buy a policy on the other owner(s). When one of the owners\u2019 passes, the surviving owner(s) use the death benefit to purchase the deceased owner\u2019s shares.<\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t

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Yes, one of the greatest threats to your livelihood, is the ability to manage your risk beyond your control.\u00a0\u00a0All shareholders included in your LLP, or Corporation, run the risk of Death, Disability, Failure of Health, and eventually Long Term Care.\u00a0Ask yourself this: If something were to happen that affected my ability to earn an income, how would I fare? What if this happened to my partner(s), how would it affect my LLP or Corp?<\/strong><\/b><\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t

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A well-designed estate plan will provide a road map for the transfer of property from one generation to the next while reducing or deferring taxes. However, as a farmer, you may have other estate planning objectives:<\/p>