Farmers Weekly Business Clinic: how can we protect our farm from our sons’ divorce risk?

A husband and wife have been joined in the family farming partnership by their two sons.

 While the farm will be passed on to their sons when they retire, the parents are concerned about its future in the event that either son marries and it doesn’t work out.

Writing for Farmers Weekly’s Business Clinic, succession and tax specialist Gavin Smith explores the options available to family members looking to protect the farm, and explains how well-drafted partnership agreements, up to date wills (possibly incorporating trusts) and cohabitation agreements can all help minimise the likelihood of potentially damaging disputes in the future.

Click here to read the full article.

To discuss this matter further, please contact Gavin Smith or other members of Thrings’ specialist Agriculture or Succession & Tax teams.