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DAY'S FARM, MINDING
YOUR OWN BUSINESS
Generally, a farmer's most important asset is the farms itself-the
incomes of several generations are sometimes directly dependent
on it.
There often comes a time when, in an effort to create a more
secure sense of belonging, or for other reasons, the owner
of a farm wishes to make members of his or ber family active
partners in the business.
This desire to make the farm a true family business, for whatever
reason, usually involves the transfer of a portion of the
farm during the owner's lifetime, requiring the setting up
of a new legal structure.
THE LEGAL STRUCTURE
OF YOUR FARM
Your notary can help you make all the necessary
decisions concerning the egal organization of your business.
Of course, each situation is different and some cases can
prove to be quite complicated. With your approval, your notary
will not hesitate to call on the services of specialized resource
people as appropriate or necessary. You can thus be assured
of the best possible legal structure for your specific needs.
Your notary can describe the advantages and disadvantages
of a joint-stock company, a limited or general partnership,
or even a joint venture. Your notary can also inform you of
the legal and tax consequences of each possible alternative.
You will know exactly where you stand regarding the ownership
of property used in tbe business in the normal course of its
activities and the extent of liability in the event of legal
proceedings.
The information supplied by your notary will also allow you
to clearly distinguish between your and your company's tax
situation.
YOUR NOTARY, CONTRACT
WRITER EXTRAORDINAIRE!
Once the decision has been made concerning the proper legal
structure for your project, your notary can immediately begin
to prepare all the document required for the company's incorporation
or for a partnership agreement.
To follow up on the idea of keeping the company under family
control, your notary will also ensure that all the necessary
sale and purchase agreements are drawn up and signed.
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Once
your company is equipped with a legal structure perfectly suited
to its needs, your notary will then proceed with all the necessary
follow-up work and ensure that all relevant licenses and registrations
required by law are applied for and received.
A new corporate structure will often mean reviewing your financial
and estate planning strategy. Your notary will go over the terms
of your will with you and help you plan your estate in such
a way as to ensure the continuity of the business while maintaining
a balance between the heirs.
YOUR NOTARY WILL
ADVISE AND REPRESENT YOU IN ALL MATTERS CONCERNING AGRICULTURAL
ZONING
As an expert in immovable property law, your
notary will provide you with suffïcient information on
every land transaction and help you determine the best way
to hold agriculturalïy zoned property. Your notary can
represent you before the Commission de protection du territoire
agricole du Québec to obtain any statutory authorization
required to subdivide, use, dispose of, include or exclude
a lot in an agricultural zone. Well versed in the subtleties
of the law, your notary can build your case with well-formulated
arguments that take into account the facts of your case.
CONSULT A NOTARY
WHO SPECIALIZES IN ACRICULTUItAL LAW
As there are many laws governing the agriculture
industry, business people very often have a hard time making
sense of it all. Without knowing it, you could omit certain
legal requirements. Furthermore, you could be missing out
on programs, credits or subsidies designed to help improve
your business.
Your notary is a natural ally, close to you
and your family, with your interests at heart. He or she is
able to combine solid business experience with in-depth knowledge
of the workings of the legal profession.
Present and active in every region across
the province, Québec notaries are the best legal advisors
for farmers, who are basically the CEOs of their family businesses.
Consult a notary who specializes in agricultural law. He or
she will be happy to lend you a hand.
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