The primary purpose of these amendments is to increase transparency regarding beneficial ownership and assist the Canada Revenue Agency (CRA) in properly assessing the tax liabilities for trusts and their respective beneficiaries.

I believe folks are happy in their roles on the farm when they are clear what is expected of them, and they have the proper tools to get the job done.

The story gets repeated time and again. A farm family invests time and money in a professional farm advisor to help them sort out a transition plan and how to implement it. Finally, almost incredibly, after a series of family meetings that started out nervous but eventually get surprisingly productive, everybody gets on board with the plan. Everybody knows their role; everybody pulls in the same direction.