Our agriculture team can advise farmers, landowners and tenants on a wide range of matters, from farm and land acquisitions and disposals, tenancy agreements, the transfer of entitlements and diversification of agricultural land to dispute resolution, rights of way and access to land.
We can also assist with succession planning (including wills, trust planning and probate matters) and partnership agreements.
As legal practitioners in the rural environment of North Norfolk, we are surrounded by farms. Commonly, these farms are run under partnership agreements or as limited companies, and occasionally by sole traders. Each structure can offer both benefits and drawbacks.
Our farming clients often come to us to discuss their farming partnerships, which are often managed either informally or under old and outdated partnership agreements. We always advise that farming families’ wills and partnership agreements are reviewed regularly and updated where necessary. This is crucial both for practical managerial reasons affecting the operation of the business and the division of income, but also in relation to succession planning, particularly in regard to the treatment of the assets and capital on the death or retirement of a partner. With the changes in the law stated in the recent budget, succession planning is more important than ever to ensure the farm remains intact.
