Want to Make Fair & Equal Happen in Your Farm Transition? This May Be the Solution…
Wednesday, October 22, 2025
Reference: Impact Farming
STREAM PODCAST LIVE
All our episodes are available on the following popular audio and video destinations:
Podcast: iTunes / Spotify / Stitcher / Soundcloud / IHeartRadio
Want to Make Fair & Equal Happen in Your Farm Transition? This May Be the Solution…
In this week’s episode, Tracy speaks with Darin Nooren, Insurance & Investment Advisor with Nooren Financial, about one of the most challenging and emotional topics facing farm families — how to achieve fair and equal in farm transition planning. Darin shares his expertise on strategies to balance the needs of farming and non-farming children.
Darin explains how life insurance is one solution that can satisfy everyone’s needs — providing retirement income for farm founders, ensuring the farming child or children can continue operating a whole and intact farm, and offering financial fairness for off-farm siblings. Most importantly, it can help keep the family farm in the family for generations to come.
And let’s be honest — insurance ranks right up there with “let’s not talk about it” subjects like wills, death, and transition planning at large. But this is an important episode that shines a light on one powerful tool that can help farm families finally achieve fair and equal while keeping the farm intact.
🕰️ Episode Highlights
[00:00] – Introduction Tracy introduces Darin Nooren and sets the stage for an important discussion on fairness in farm transition planning.
[5:25] – The Challenge of “Fair and Equal” Tracy and Darin chat about why achieving both fairness and equality in transition planning is so complex.
[9:10] – Common Approaches and Their Drawbacks Darin walks through the most common strategies families use and the pros and cons of each:
- Transferring all assets to the farming child
- Giving the farm to the farming child and other assets to non-farming children
- Dividing the farm equally among all children
- Holding assets in a corporation
- Using a trust for control and transition
- Founders’ retirement income needs
- Giving the farming child the ability to continue operating
- Providing financial support to non-farming children
[47:40] – Insurance for Farming Partners How life insurance can protect farming partnerships by ensuring smooth buyouts and continuity in case of an unexpected loss.
[51:45] – Insurance for Debt Management Darin discusses how insurance can safeguard against debt burden and provide liquidity to pay off farm or business loans.
[1:05:12] – Corporations and Capital Gains A look at how corporations impact transition planning, taxation, and the capital gains exemption.
[1:09:00] – Final Thoughts Darin wraps up with key takeaways: plan early, communicate openly, and use the right tools to protect both your family and your legacy.
Key Takeaways
- “Fair” and “equal” are not always the same thing in farm transitions.
- Insurance is one of the most flexible tools to achieve fairness without jeopardizing the farm.
- Early planning and open family communication are crucial.
🔗Show Resources:
Darin’s First Impact Farming Show Episode:
"Achieving Fair & Equal in Farm Transition Planning | Insights from Darin Nooren"
https://www.farmmarketer.com/Resources/ResourceItem?resourceItemId=532
Nooren Financial - Connect with Darin Nooren:
📩 Email: nornfarmsinc@gmail.com
📞 Phone: (780) 523-7705
...............................
Thank You to our Show Sponsor
Here at The Impact Farming Show, our goal is to bring our audience the people and ideas that will IMPACT their farming operation. We couldn't do it without the continued support of our sponsors that are committed to supporting our show and our shared vision of helping farmers succeed.
Please take a moment to check out this week's show sponsor: Black Earth A WestMet Group Company
Black Earth: The Global Leader in Humic Innovation
Pure Humalite. Proven Results. Sustainable Growth.
At Black Earth, we harness the power of Humalite, the world’s purest source of humic substances, to enhance soil health, boost crop yields, and drive sustainability in agriculture and industry. Learn More
...............................
About the Guest:
Darin NoorenInsurance & Investment Advisor | Nooren Financial
With years of experience helping farm families navigate the complexities of transition planning, Darin brings valuable insights into how to achieve fair and equal transitions while keeping family farms intact for future generations.
Darin’s approach is all about finding solutions that work for the whole family, ensuring everyone is supported, and the farm can continue to thrive.
...............................
📤Subscribe & Share:
If you enjoyed this conversation, please subscribe, leave a review, and share this episode with anyone interested in agriculture policy, sustainability, or the future of food.
Sign Up for Impact Farming Alerts:
If you enjoyed this episode, don’t forget to sign up as an Insider so that you are first to know about all-new Impact Farming episodes, Expert Corner Segments, fantastic contests, and new promotions https://www.farmmarketer.com/impact_farming_show/sign-up
...............................
* Disclaimer - As always, this information is not intended to provide business or medical advice. To ensure that your own circumstances have been properly considered and that action is taken based on the latest information available, you should obtain professional advice from qualified business or medical professionals before acting on any of the information in this post.
...............................
The Impact Farming Show
Welcome to Impact Farming, Farm Marketer's video and audio show dedicated to helping Canadian farmers excel in the business of farming. Our goal with this show is to introduce our audience to the people and ideas that are going to make an IMPACT on their farming operation.
Show Host - Tracy Brunet
CEO of Farm Marketer
.jpg)
Tracy and her husband are cattle ranchers in South East, Manitoba. As host of the show, primary producer and agvocate, Tracy is passionate about helping farmers succeed in the business of farming.
In each episode, Tracy chats with today's most successful farm advisors and industry leaders to bring our audience the best and most important ideas.
Connect with Tracy Brunet - Twitter / Facebook / Instagram / Linked in
.....................