SAM ODROWSKI The Standard
BROCK: Edward Jones in partnership with Sunlife Financial is hosting a free seminar focused on farm retirement planning and passing down family farms to the future generations.
The seminar is meant to educate families on the options they have when passing on their farm, from a cost stand point.
A tax expert will be provided from Sun Life financial who can give insight and answer any questions people may have.
The event organizer, Tammy Scuralli, said, “This is for anyone who is considering retiring, that has been running a family farm for their whole life.”
But all are welcome to attend the seminar. Ms. Scuralli said this event may also be helpful for people who would like to pass on their small business to the next generation.
She said, "sometimes at family farms there is often another business on the side, and a lot of people do not know how the other business will be impacted."
Ms. Scuralli told the Standard that the tax laws are changing for small businesses, so it is important to know how transferring a farm or business to a spouse, or next generation, may affect a person's lifetime capital gains exemption.
The seminar will also look at how a farmer who is retiring, can replace their farming income with retirement income.
Ms. Scuralli is a Financial Advisor at Edward Jones and is happy to provide complimentary reviews and advice to people who attend the seminar.
The event takes place on February 6th, from 1 p.m. to 3 p.m., at the Sunderland Town Hall, at 120 River Street. Refreshments will be served by the United Church Women.
Those who plan on attending are asked to R.S.V.P. to 905-852-1244. Ms. Scuralli encourages all farming families and business owners to come out.
She said, "Information is powerful and knowledge helps us to make educated choices."
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