Planning is essential to ensure the smooth succession to a farm whether it is owned or tenanted.
Many farming businesses are family run, conducted by Partnership or as a Limited Company. For agricultural tenancies, detailed statutory rules exist and the door can be left open to taxation complications should succession to the family business is not managed properly.
How Blackadders can help
Solid planning helps to remove uncertainties caused by death, and can even help reduce the amount of inheritance tax which may be payable.
The team of rural land and business lawyers have a thorough understanding of all of the issues involved and can give tailored advice to ensure trouble free continuity to the family farming business. When reviewing a Will, our team can advise on any opportunities for lifetime taxation planning, such as making use of Inheritance Tax reliefs.
The expert Blackadders lawyers will also discuss and advise the benefits of Power of Attorney. This ensures that your affairs, both personal and business, are managed in the event that you are unable to manage them yourself.
Contact us today and find out more about our succession planning.