How we can help you to ensure that your farm business thrives, now and in the future.
The chances are that generations of your family have worked on the farm. It’s only natural that you’re not going to want to gamble with the farms future. Knowing when and how to go about initiating a conversation about the future of the farm is difficult but why risk losing the very thing that your family is dependent on.
We understand that the issues involved in a farm business can be complex both in terms of the competing interests of family members who may or may not be involved in the business and in terms of the legal and tax matters that have to be carefully considered.
Working together as a team with any other trusted advisers you might have, such as your accountant or land agent, we can develop a plan to ensure that the farm business can continue to thrive both now and in the future.
Our approach to this is not transactional. Instead, the process involves taking into account a variety of factors and using a combination of our services, and those offered by other trusted advisers, in order to meet your goals.
This often involves:
- reviewing your legal, financial and business arrangements at regular intervals and at key stages in your life
- reviewing how the assets are currently owned
- considering the role that each family member currently plays in the business and is likely to play in the future
- considering how best to provide for those who will not be actively involved in the business
- reviewing and updating Will and Trust arrangements
- discussing a framework for passing on assets safely and the use of Pre-nuptial Agreements
- considering the steps that can be taken to maximise available tax reliefs and exemptions including the suitability of pensions
- reviewing and updating Powers of Attorney for your business affairs and in connection with your personal property and financial affairs
- reviewing and updating Partnership Agreements and distinguishing personal assets from partnership property
- considering the appropriateness of key person insurance for your farm business
- working collaboratively with accountants, land agents and other rural business advisers.
We know that no two farming businesses are the same so we can develop a plan tailored to meet your goals to ensure that the farm is protected for your family’s future.
Ready to talk?
You can provide us with instructions by phone, online or in-person.