Key Family Farm Succession Planning Tips

Agricultural Tractor in Harvest Field

Family farm succession planning can be an essential step towards drawing up a long-term plan for your home and business. As well as offering clarity about the future of your farmland, it also improves the likelihood of a seamless transition between you and the beneficiaries of your estate. If you need specialist guidance to develop…

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Everything You Need to Know About Family Farm Partnerships

Agriculture - Outside of Tractor

Family farm partnerships are extremely common in the agricultural sector. For many farmers, these agreements are loose and undefined. It might even be assumed that because a long-term partnership is working well for all parties there is little reason to formalise it in writing. While there is no legal obligation to set out your farming…

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Challenges with the Family Farm Divorce Process

Agriculture featured image - dog and farmer

Divorce can often be a challenging process, something which requires specialist guidance to ensure your needs are satisfied. While the financial claims involved in a family farm divorce (such as income, property, and pensions) are exactly the same as any other separation, there are some unique circumstances which will typically only occur when rural businesses…

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Thursfields’ Agricultural Team successfully concludes another farm sale

Farm field

Thursfields has recently acted on the sale of a large, tenanted farm and completed the sale having overcome various challenges. The sale involved: ensuring vacant possession of two farm cottages was obtained, both with residential tenancies; resolving a neighbour’s claim over a part of the farmland that arose after the sale had commenced; and collating…

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A Guide to Divorce in Farming Families

Agricultural Tractor in Harvest Field

While separations are often challenging, divorce in farming families can be even more difficult to resolve. Farming divorce cases not only have to address the usual child arrangements and financial settlements, but they usually also include high value assets, complex trusts, and inter-generational business interests. Understanding the key features in farming divorce cases can be…

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A Guide to Agricultural Relief

Agriculture featured image - dog and farmer

Inheritance tax (IHT) is an important consideration for farmers who want to protect their assets and provide for future generations. Agricultural Relief (AR), formerly known as Agricultural Property Relief (APR), offers solutions for farm owners, as it can help to minimise potentially significant IHT liabilities. Whether you’re an experienced farmer or an entrepreneur, we can help…

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Protecting Family Funds: The Case for Nuptial Agreements

Lambs in field at sunset

A case study highlights the resolution of a recent and controversial financial remedy case by legal director Nadia Davis, who specialises in divorce and financial remedy, based in Birmingham. Davis acted on behalf of the Wife, who married into a wealthy generational farming family, in a case that centred around a long-lasting marriage devoid of…

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Essential Tips for Buying Agricultural Land

Agriculture

There are many reasons for buying agricultural land. You may want to start or expand a farming business, or purchase as an investment or development opportunity. Whatever your motivations may be, there’s a lot to think about. These include the length of the process, how easy it is to obtain planning permission, the costs involved…

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