Codie Russell, CFP, CLU, CHS

23/05/2026

Many estate problems don’t start after death.

They start because difficult conversations never happened.

I recently spoke with a client who shared that they are concerned because their father is very private about his financial affairs.

Situations like this often lead to uncertainty and added stress when settling an estate.

Clear communication during lifetime planning can make a significant difference for the family left behind.

21/05/2026

Some farm transitions fail because of taxes.

Many fail because leadership never transitions.

Succession planning is just as much emotional planning as financial planning.

Sometimes the hardest part is letting go.

19/05/2026

I recently sat down with a farming family to discuss succession planning.

While reviewing their corporate financial statements, one thing stood out right away.

Year after year, both corporate and personal taxable income were kept near zero.

Like many farmers, they had become so focused on minimizing taxes today that they weren’t fully utilizing the long-term advantages of the corporate structure.

Not every tax write-off creates long-term value.

Sometimes paying a little tax today can create far greater flexibility and wealth for the future.

Many farmers incorporate to access lower corporate tax rates and build retained earnings over time.

If all income is continually spent down or eliminated, it’s worth asking whether the corporation is truly being used to its full advantage.

16/05/2026

No will? Then you don’t decide who gets what.

In Manitoba, your estate is distributed based on a legal formula, not your intentions.

And in some cases, your spouse may not receive everything.

A simple will can completely change that outcome.

Estate Planning Saturday

14/05/2026

One of the biggest taxes farmers pay is the tax they never planned for.

Poor structure.

Wrong ownership.

No succession plan.

No estate equalization strategy.

Sometimes the issue isn’t investment returns.

It’s how everything is organized.

Farm families work too hard to lose wealth to poor planning.

12/05/2026

Last week I met with a family who had recently sold farmland and wanted to discuss options for investing the proceeds.

Near the end of the conversation, we started discussing their corporate investments. Most of the funds were sitting in GICs.

What surprised them was learning that passive investment income inside a corporation can be heavily taxed in Manitoba, in some cases over 50% before integration and refunds are considered.

They asked a great question:

“Why has nobody explained this to us before?”

The reality is that many business and farm owners are never shown the full range of tax-efficient strategies available for corporate investing.

Sometimes small structural changes can create significant long-term tax savings.

If you have retained earnings, corporate investments, or excess cash inside a corporation, it may be worth getting a second opinion to ensure your investment strategy is working as tax-efficiently as possible.

11/05/2026

As some of you may know, my family recently sold our first home.

While my wife and I have mixed emotions about leaving the house we brought our daughters home to, we’re excited for the memories waiting to be made in our forever home.

Sometimes the most exciting new beginnings can still feel a little bittersweet.

09/05/2026

Probate isn’t triggered by size alone.

In Manitoba, it usually comes down to whether institutions are willing to release assets without it.

If assets are held solely in your name, or there’s any uncertainty, probate is often required.

It’s as much about protecting the executor as it is the bank.

Estate Planning Saturday

08/05/2026

3 years of snacks on the floor, Disney songs, and being completely wrapped around her finger.

Wouldn’t trade it for anything.

Happy 3rd birthday to my oldest daughter.

07/05/2026

Inheriting farmland and thinking about selling?

This is more common than you might think and if handled properly, it can be a powerful way to manage taxes across generations.

But timing matters.

The most effective strategies are usually put in place years before a transition or sale happens. In many cases, having a plan 2–3 years in advance with your advisor and accounting team can make a significant difference.

I’ve seen situations where proper planning has saved families hundreds of thousands or more in taxes.

If selling inherited farmland could be part of your future, it’s worth understanding your options early.

05/05/2026

Working with farm families across Manitoba on farm succession planning, one thing has become very clear:

No two farm operations are alike.

Every farm has a different mix of family dynamics, land, timelines, and financial goals. What works for one farm transition plan doesn’t always work for another.

That’s why generic advice around farm succession or selling farmland can fall short, especially when taxes and long-term planning are involved.

If you’re thinking about farm succession planning in Manitoba, it’s important to build a plan that fits your operation, not someone else’s.

If you have questions about your farm’s future, feel free to reach out.

Helping create and transfer wealth for farmers and business owners.