With the majority of farms and farming businesses being owned and run by families, it is important to ensure the smooth succession. Succession planning advice will require to take into account the family set up, the requirements of the business going forward, both in terms of scale, workforce and availability of assets and funding. Alongside the taxation implications of any decisions to be made are to be considered carefully to ensure that no unexpected liabilities occur.
How Blackadders can help
We aim to assist our clients in considering all options open to them, based on their particular circumstances and working closely together with their other advisors, such as land agents and accountants, to protect the business and assets from legal rights and tax liabilities, ensuring full use of available inheritance tax reliefs where possible.
As part of this process, we will provide advice on Wills, Powers of Attorney and review of your partnership documentation and any tenancy interests held.
Succession Planning Team Members
Our lawyers in Aberdeen, Dundee, Edinburgh, Glasgow and Perth work together across various disciplines to ensure that our clients' requirements are met.