Our specialist sector experience and knowledge makes us well placed to help farmers, landowners, landed estates and agricultural business owners, plan for their future.
Our Private Client team includes experienced, specialist agricultural lawyers with an in-depth understanding of the agricultural sector and has long been providing advice to farmers and landowners on a range of matters including wills and inheritance tax, tax planning, lifetime gifts, estates, trusts and Lasting Powers of Attorney.
We also have significant experience of advising the owners of landed estates, whether they have heritage property – where in particular we advise on conditional exemption and heritage maintenance funds- or where there is settled land or other trust property.
We understand the importance of passing on the business to future generations in the most efficient and the fairest way possible. We can guide you through the options to be considered, advise on the inheritance tax position where appropriate and prepare wills which take into account all relevant circumstances.
In doing so, our aim is to ensure we understand the whole picture: the dynamics of the business and the way in which it is run, your personal and family circumstances, the needs of the various family members and your wishes for the business going forward. We achieve this by working closely with you and with our colleagues and other professionals involved in the business.
Specialist advice on the inheritance tax position is an important aspect. Inheritance tax reliefs applicable to farming businesses, specifically agricultural property relief and business property relief, are potentially generous but complex and easily lost and advice at an early stage will maximise the potential for benefiting from these reliefs in the future.
We can also put in place Lasting Powers of Attorney, enabling your personal and business affairs to be dealt with by attorneys in the event of your incapacity.
We work with the following clients from within the agricultural sector: