Specialist help for transfer of property ownership
‘The Wills and probate solicitors to help you secure the best future for your farm’
Your farm may well be a family business that has passed from one generation to the next. Passing on the ownership and the value of your estate brings you both opportunities and pitfalls. As expert Wills and probate solicitors, we can help you protect your farm for future generations, while minimising the tax burden.
Weighing up your options for passing on the business
The most common way to pass on a farm or estate is through a Will. A Will enables you to make sure your wishes are carried out, and you can easily alter it whenever your circumstances or wishes change. As Wills and probate solicitors who are well versed in the agriculture sector, we can help you make sure you consider all the angles.
- The tax advantages
Wills bring you huge tax advantages as transfer of property ownership can provide you with up to 100% relief from Inheritance Tax. You could benefit from significant Capital Gains Tax advantages too. We can help you make the most of the opportunities available.
- Appointing an executor
When you write a Will, you have to appoint executors or trustees who will look after your estate’s assets for your beneficiaries. A Will can also be a very useful process if you’re looking to protect elderly or other vulnerable family members, appoint guardians for children or deal with gifts of family belongings.
- A flexible solution
We can draft your Will quickly and efficiently, giving you a secure safety net while you decide whether to pass on assets during your lifetime. And if your situation changes, we make updating or amending your Will straightforward too.
- Trusts and farming partnerships
If you are looking to pass on the value of your farm or estate during your lifetime, we can help you set up a trust or farming partnership as an alternative to a Will. Or we can build the trust terms into the Will itself.