For the Love of the Land
Did you know that by contacting the National Bank and requesting assistance with the transfer process, you can count on the service of professionals who will help you plan your retirement, while keeping your interests and those of your children in mind? The tax specialists, notaries, appraisers and agronomists at National Bank will put their agricultural and financial expertise to use to best meet your needs.
Thus, the amount of debt has outpaced the ability to repay, and explains in part why joint management periods are much longer than they were in the past. Parents are now more deeply involved in financial matters than before, and continue to work well into retirement age. Contrary to popular belief, most do not have many long-term investments. With the Quebec provincial average hovering around $20,000, this essentially means that they are depending almost entirely on selling their stake in the farm to ensure a comfortable retirement for themselves.
Solutions for a Successful Transfer
Your National Bank agricultural account manager is there to guide you and will explain the ramifications of each of your alternatives. What's more, he/she can recommend the best transfer solution for your particular circumstances. Therefore, whether you are planning on transferring your farm in the distant future, are currently in the process of a transfer or will be doing so very shortly, you will get the information you need.
By choosing the National Bank as a partner for your transfer, you'll be reaping what you've sewn!
*Source : Statistics Canada, Farming Survey, 2002, compiled by the Agriculture Sector.