A Specialist in Agricultural Law
DAY’S FARM, MINDING YOUR OWN BUSINESS
Generaliy, a farmer’s most important asset is the farm 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.
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.
