By Bruce Warkentin, MNP LLP
April 4th, 2025
Estate planning today requires more than dividing assets. It’s about preserving what you’ve built, preparing your heirs, and directing your wealth with purpose. And in many cases, charitable giving can help you do all three.
Rising farmland values may signal opportunity, but passing on that wealth isn’t always simple. With assets often tied up in the business, estate planning requires more than splitting what’s left. Learn how charitable giving can create clarity, reduce conflict and build a meaningful legacy, all while protecting your operation. Whether you’re looking to support your community, guide your heirs or reduce taxes, the right plan can help your values live on.
If you own farmland or operate a family-run business, your wealth likely isn’t sitting in cash. It’s tied up in land, equipment, and operations. With farmland values in Canada, continuing to climb, many landowners assume the next generation will inherit a windfall. However, the reality is rising asset values don’t always translate to flexibility — or a lasting legacy.
Your estate has three possible destinations: your beneficiaries, the government, or a charitable cause. That’s the core decision whether you make it or not. If there’s no plan in place, the tax system will play a major role in deciding where your wealth ends up. Without a structure, your family may face tension, liquidity issues, or the forced sale of farmland to pay taxes or settle the estate.
Bruce Warkentin, Business Advisor, MNP
Charitable giving offers a powerful alternative, a way to reduce tax burden, avoid conflict, and leave a legacy that reflects your values. One of the most important steps you can take is having conversations with your family while you’re alive. A will shouldn’t come as a surprise.
The choices you make today will shape how your legacy lives on. Your estate plan is a chance to reinforce the values you’ve lived by, support the people you care about, and invest in the future of your land, your business, and your community. Thoughtful giving, whether during your lifetime or through your estate, can ease tax burdens, reduce conflict, and leave a meaningful mark. It also gives you the chance to lead by example, showing your family what it means to use wealth with purpose.
Bruce Warkentin, Business Advisor, MNP
Start the conversations early. Revisit your plans as life changes. When your intentions are clear and your priorities are shared, your legacy becomes more than a memory — it becomes a foundation the next generation can build on.
