As land values soar and tax bills loom, Canadian farm families face a pivotal question: are they leaving a legacy — or a liability when it comes to the farm business continuing?
In this second interview with RealAg’s Shaun Haney, Derryn Shrosbree, CEO and founder of 33seven, outlines the urgency and opportunity in continuity planning for multi-generational farms. Using a real-world example of a $10 million farm, Shrosbree explains how an estate freeze can protect the senior generation’s assets while empowering the next.
“[If] we freeze the value at $10 million, which means the 70-year-old is worth $10 million—he’s frozen the liability and the legacy at the same number,” he says. Future growth then accrues to the next generation, preserving long-term viability, he says.
But clarity of the farm value must come first. “Once you’ve demystified the number, it becomes tangible,” Shrosbree notes. “Farmers know what their inputs cost to the penny. Why don’t we know what our enterprise is worth and what’s taxable?”
The conversation doesn’t shy away from tough truths: most farmers want to preserve the farm, yet delay planning—often due to “invoice fatigue” or not knowing where to start. With farmland values creeping over $5,000, $10,000 or even $30,000 per acre in some regions, Shrosbree warns that unchecked tax burdens could force acreage sales, or worse, cripple the incoming generation with a debt-load they can’t manage.
Shrosbree says that farm continuity demands strategy, not just sentiment.
Check out the first episode in this podcast series — What is the farm worth?
Subscribe: Apple Podcasts | Spotify | RSS | All Podcasts
