Planning for the future is important for any business, and with the average age of the UK farmer being 59 years old, succession planning is an important issue for many rural businesses and farming families.
We understand that handing over the reins is not straightforward and a lack of planning can create problems and prevent clear decisions being made. While the issue of succession is a sensitive topic to discuss, planning in advance will help avoid unnecessary stress, expenses and animosity for those involved.
Failure to plan succession can cause anguish and upset in a family. Angst and uncertainty within a business, with individuals becoming unsure of who is making the decisions, causes potential successors to feel that they are in a precarious situation.
Our Agriculture team have years’ of experience and are able to assist and support clients in establishing succession plans, including dealing with potential tax issues, Will writing, pension schemes and the protection of your investments and overall finances.
If you don’t already have a succession plan in place then act sooner rather than later as this will make the transition easier. We will assess your business and remove the burden from you.
For more information contact a member of our team.