Creekside View – March 10, 2025 – "Working with a Team"

It is quite common for our Group to work as a member of a team of professional advisors supporting a client in their planning.

At last count, we had collaborated on projects with a dozen law firms, nearly as many certified public accountants, and several tax planning specialists.?

All of us have different duties, each bringing a unique perspective to the task at hand.

As brokers we usually are tasked with estimating the current value of the asset, plus finding a new owner.?

Sales of a company’s shares instead of land titles would be a prime example.

No one wants to pay any more to Canada Revenue than is absolutely necessary, so the primary advisor in this case would be the tax specialist.

And while the seller is seeking to reduce their financial hit in the transition, the buyer will be wise to spend time and money determining no hidden problems come with the company.

Death of a principal will force filing of the deceased’s last income tax return, plus distribution of his or her estate.

Again, we are often asked to provide a written opinion of the value of the real estate owned at the time of passing.

This must meet the needs of the Executor(s), lawyer, and accountant.

There are times when our opinion is challenged by beneficiaries, so it must stand up in court.

Land valuation and marketing due to relationship breakdown can be challenging.

Often the parties each have their own advisors, so two opinions are solicited, then compared in mediation.

Even then, if the principals are focused solely on their own goals, then no amount of reasoning will achieve a settlement until they decide to quit fighting and look for common ground.?

There have been times when the acrimony is so strong, we have turned down the opportunity to market the property as no amount of commission will compensate for the frustration encountered.

It takes a special person to successfully practice family law in my opinion.

Then of course there is the highly emotional estate planning for the multi-generation family farm.

Mom and Dad may think they know what their adult children want or deserve, but unless it is discussed openly and progressively, it may in fact drive a deep wedge into the family.

Having just gone through this exercise myself, I appreciate how hard it can be.

But it shouldn’t be avoided.? In fact, embrace the chance to create a legacy.

And if you need a facilitator, please hire one, so everyone can be heard.

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Vern McClelland is an associate broker with RE/MAX of Lloydminster, founder of ProgressiveTender.com, and an active partner in his family’s livestock operation.? Comments on this article are welcome either by emailing [email protected]? or calling (306) 821-0611.

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