estate planning (4)

Farm Management & Succession Sand Box

Thanks for landing here, please check out the comment sections as I will be posting resurces there as they come at me. This sandbox will focus on farm management and farm succession resources. 

 

To kick this off, there is a course offered by University of Guelph that requires an investment of your time, there is a lot of good resources there, gets you thinking and hopefuly has soe good ideas to help make your farm more profitable, more enjoyable and get you inspired a bit. I completed the course this fall and found it useful and reminded me of my New Liskerad College of Agricuture Days. I graduated from there in 1984. The Dean , what is his name, it escapes me at the moment, thats not like me to forget a name, it will come to me. Anyway, Earl Pollock was on of my teachers , Allen Francis , he came from Renfrew and he retired there. 

 

Here is my  Christmas email

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Merry Christmas ! wishing you and your family all the best this holiday season.

I meant to send this info earlier, and since I am doing some browsing, I thought you might benefit from this course that I took earlier this year. It's a free course that is packed with a lot of good info that is easy to get through and has some good business lessons in it.

https://www.guelphagriculturalmanagement.com/#whyjoin

The course opens up Jan 9th and one can get on the wait list by registering now.

This is a good course that you and your successors could benefit from.

I am thinking it might spark the succession conversations that should be happening.

I am going to retake the course, the price is right and sometimes we need to hear the message over and over again to glean all the benefits.

Thanks
Tim







Timothy Ross, Family Advisor , CEO & Founder, Brock Shores Financial

Mutual Fund Representative through PEAK Investment Services Inc.




This transmission is intended solely for the individual or entity to whom it is addressed and is confidential in nature. Please be advised that any distribution, reproduction or other use of this document by anyone other than the addressee is strictly prohibited. If you have received this communication in error, please notify us immediately. Thank you for your assistance
Brock Shores Financial / Timothy Ross & Associates, Family Office Providing Omega Stewardship

4502 Airport Road – Tincap, GTA Professional Center , Elizabethtown, Ontario K6T 1A2


613-345-0016 Office
613-213-4625 Cell/Text 613-345-5231 Fax
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Office Assistant: Tammy Abrams assistant@timothyross.com

Office Manager: Megan Ross megan@timothyross.com

Bookkeeping Associate: Becky Eamon becky@timothyross.com
Tax Associate: Kelly Potvin kelly@timothyross.com

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“Serving our clients and community since 1988”

OMEGA STEWARDSHIP

* One Stop Process Driven Approach for Retirement & Income Planning

* Personalized Tax Management Solutions for Individuals & Business Owners

* Confidential Wealth Management Solutions

www.BrockShoresFinancial.ca www.TimothyRoss.com #ImprovingFutures
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Helping Families Achieve ... Life's Major Goals

1. Tax Smart Planning & Investing

2. Worry Free Retirement

3. Education of Our Children & Grandchildren

4. Quality Care for Our Parents

5. Meaningful Financial Help for Our Loved Ones

6. Meaningful Legacy

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It's Too Expensive

This brings me to a myth I hear all the time about insurance.

"It's too expensive."

No, it is not.

Here's what an insurance policy does for your clients:

1. It diversifies their wealth. This might be the only remaining free lunch out there.

2. It optimizes their wealth by reducing long-term taxes, as insurance policies are tax-exempt.

3. It shifts risk away from families at a low cost to someone willing to take on that risk.

4. It makes the estate planning process easier for your beneficiaries. Life insurance policies pay out expediently to the heirs, bypassing the estating process, which means less hassle and faster money.

These are all enormous benefits to our clients.

"If you present insurance positively and showcase its benefits, you will find clients will stop seeing insurance as a cost and treat it as an asset. It is well priced and has massive value for my family. "

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What If It Is All Taken Away

Good question, good answers

A message we all should consider, quite frankly, by the grace of God goes I. Now there has been times that we have had to help people walk through these waters. This can be a very scary, frightening time, and yet, a liberating time in ones life when it is all taken away. When we use that word "All" we are often speaking about the money, the assets, and we miss the point that all is not everything, there is something's that can not betaken away from you. Will make a list of those none all things some day, and I encourage readers to add to the list, I look forward to reading what those treasures that can not be taken away from you would be.  ~ TLR

 

https://www.desiringgod.org/articles/what-if-god-takes-it-all-away

 

What If God Takes It All Away?

Trusting Him Through Financial Struggles

Guest Contributor

Recently we drove past our old house for the first time since downsizing. Immediately, our four children began rehearsing memories, noting every part of the house that they missed. Once again, they struggled to understand why we had to give it all up.

As hard as I tried to respond with confidence that it was the right thing for our family to follow God’s leading — even at the cost of financial comfort and a home we loved — deep down, I wrestled with my own nostalgia and questions.

Living on Far Less

 

Rewind six years when we were living well below our means, carefully planning for the future, and seeking wise counsel to be good stewards of our rising income. But, in his strange sovereignty, God chose to teach us how little control we really had.

Even as our oldest child’s neurological challenges seemed to consume us, other pressures were mounting. My health continued to decline and my husband’s on-call job often left me feeling like a single parent. Medical bills increased, and our confidence in the future was replaced by a growing reality that our family was in crisis.

God led us to a place where there was no other option but to let go of all we had saved, planned, and worked hard for. Within a few short months, my husband took a new job that brought significantly less income (but allowed him to be home more often). We sold our dream home, moved in with my parents, and were completely unsure of what the future held.

Am I Trusting in Prosperity?

 

Where did we go wrong? Maybe somewhere, but maybe nowhere.

Although God commands us to live wisely with what he entrusts us with, he ultimately asks us to trust him above all else, no matter the cost.

Through all of this, even in our desire to use our resources for God’s glory, he has taught me to search my heart by continually asking three questions.

1. Do I live in fear of losing my comfort?

 

If we desire worldly comforts, and fear earthly loss more than we fear God, then we will likely make decisions and plans according to what we think will keep our lives most comfortable. Looking back, I can now see the Lord’s severe mercy in overturning the plans we had set for our lives. He removed all of our earthly means to find comfort and security in this world. It was painful, yes, but it was also freeing.

As our eyes become increasingly fixed on fearing the Lord and trusting his promises for us, we can live in greater freedom to plan and live wisely according to God’s plan, rather than living in bondage to our own.

2. What legacy am I leaving?

 

Where we pour our time, energy, and money is a part of building the legacy that we will leave when we are gone. Are we working so many hours for our family’s comfort but are never there to invest in them spiritually and relationally? Are we so focused on planning for the future that we miss how God is calling us to live radically in the present? Or, does our lifestyle suggest that this earth actually is our home?

I am not saying we should not enjoy the gifts that God has given us, but we are commanded to be good stewards of what God has entrusted to us. We should be frequently asking the Holy Spirit to examine our hearts and show us where earthy treasures are motivating us more than eternal ones, that we might pursue righteousness above all else (Matthew 6:33).

3. Whether in prosperity or need, is Jesus enough?

 

We should plan and save — but is Christ enough if he chooses to take it all away?

In a two-year period, we went from debating how to redesign and remodel our kitchen to wrestling with how we would feed our family of six on food stamps. Both seasons have presented different challenges. In comfort, it was a constant temptation to put our confidence and joy in the false security that wealth gave us. While we desired to honor Christ with all that we had, if I’m honest, it was far too easy to be distracted by the excess.

Far Greater Treasure

 

Admittedly, the past two years have tested us in other ways as well. We’ve wrestled with trusting the Lord’s leading when it seemed only to lead to greater need and suffering. We were tempted to envy the seemingly comfortable lives of those around us. We’ve questioned why God would allow us to lose everything when we earnestly sought to honor him in our steps. We have struggled to understand why God has taken away provisions for the necessary treatments and doctors that our family’s chronic health issues require. And, at times, we have struggled to see God’s provisions and undeserving gifts because we were so focused on what we had lost.

Yet by his grace, he has continually shown himself faithful, providing in his way and timing, while changing our hearts along the way.

In whatever season you find yourself, hold firmly to the truth that Christ is and will always be enough (Philippians 4:19). He is a greater treasure than anything else this world can give. Sometimes, it may take losing everything on this earth to truly come to believe that with every ounce of our being.

Plan for the Future — But Don’t Hope in It

 

Now there is great gain in godliness with contentment, for we brought nothing into the world, and we cannot take anything out of the world. But if we have food and clothing, with these we will be content. (1 Timothy 6:6-8)

We are commanded to be content today because none of us have a guarantee of what tomorrow holds. Therefore, as Christ-honoring as it is to steward our resources wisely — to plan and save for an emergency fund, home, and retirement — we must always be on guard that we are not placing our hope in them. As we grow in understanding how temporary this life really is, we will learn to hold more loosely to our plans, live in freedom rather than fear, and be willing to spend ourselves more radically for the Lord.

When we find ourselves with a comfortable bank account and all of our efforts panning out as we hoped, we must be careful that our security and joy is not found there. We must boldly ask the Lord to both keep us dependent and to help us, in any situation, to glorify him. May we be slow to judge those who are struggling (not assuming it’s their own laziness or poor judgment), and quick to see how God’s grace has provided for us abundantly for his purposes.

You Can Lean on Him

 

If, on the other hand, you are reeling from the loss of what you worked hard for, or are carrying the burden of an uncertain future, take heart and rest in the one who sees your needs and is faithful to provide.

May this be a season that you see and savor an increased desire and love for Christ as you lean on him for your current and future needs. Be careful of giving way to resentment or envy towards those who appear to be more comfortable. Your intense season of need may be the greatest gift of grace that God has given you for his eternal purposes.

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