Why written farm agreements are important

The financial costs can be high if farm enterprises aren’t properly structured with written agreements or if important business decisions are neglected. This can be especially true when a farm is planning to transition.

Lawyers often see the impact of poor farm enterprise planning. The lack of proper agreements can make addressing or resolving conflicts challenging and, in some cases, costly.

“The process of sitting down, sharing mutual concerns, exchanging facts and setting expectations can do a lot to set a farming relationship off on the right foot, as well as providing for solid legal protection if things go wrong,” says Jacob Van Boekel, a farmer and lawyer with Nesbitt Coulter LLP in Oxford County, Ont.

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