A farming business will often involve more than one member of a family — and indeed, many farms involve the whole family — so legal issues around personal circumstances and finance can have a major impact on the business itself.
Private client and personal law involve things such as Wills and trusts, planning for old age, inheritance tax planning and Lasting Power of Attorney arrangements.
So if you, or a member of your family, is getting married, divorced, or having to plan for the care of an elderly member of the family, our experienced agricultural law solicitors will be able to help you through the process.
There are a wide range of circumstances where our agriculture specialists have helped families through quite complex legal procedures. Common issues we deal with include:
All these questions highlight that farming is more than just a business; it is a way of life and lies at the heart of every farming family. At Lanyon Bowdler, we understand exactly how to balance the commercial considerations of your farm with the needs of your family and your home.
Whatever your circumstances, our legal specialists have the expertise, knowledge and experience to advise and support you at every stage. We will deal with your situation sensitively and effectively, as we know just what is at stake and we will take as much of the stress and strain away from you as possible.
With our in-depth knowledge of the agricultural industry, we have experience in handling prenuptial agreements, cohabitation agreements and divorce, against the unique backdrop of farming and running and managing a rural business.
We are acutely aware of the need to consider not only the divorcing parties in situations like this but also the overall family unit who may be involved in the farming partnership and potentially reside, or have a financial stake, in the marital home.
At Lanyon Bowdler we will work with you to find a resolution to any family dispute and often succeed in finding a settlement that works for all parties without the need for court action.
We are able to advise on all areas of succession planning including the preparation and drafting of Wills. Forward planning is essential to avoid future disputes and misunderstandings but we can also help in situations where problems have already arisen. The valuing and division of assets can cause issues upon the death of a family member, particularly where a relative believes they stand to inherit some or all of the farming business but subsequently don’t. We frequently work with clients to find solutions that will preserve family relations and future assets and will enable the business to continue operating while a resolution is reached.
As with all areas of succession planning, advance consideration is vital to avoiding future tax pitfalls. At Lanyon Bowdler we are able to advise you at any stage about what reliefs and exemptions you are entitled to, particularly in relation to inheritance tax.
Passing over the responsibility of your farm is an extremely important step. We believe a collaborative approach is the best way to ensure a smooth transition of your family business to the next generation and will involve all interested parties to ensure your legacy is safeguarded for future generations.
Whatever situation you may be facing, talking to an experienced agriculture specialist is an excellent starting point. The solicitors in our agriculture team are approachable and down to earth, and with many being from a farming background themselves, they understand where you’re coming from.
The specialist agricultural solicitors here at Lanyon Bowdler are based across the firm’s offices in Shrewsbury, Bromyard, Hereford, Ludlow, Oswestry and Telford, so are well-placed to work with clients across Shropshire, Herefordshire, Mid & North Wales and beyond.
Please call 0800 294 5919, or use the online enquiry form and a member of the team will get in touch with you directly