Succession planning in relation to the family farm can be a difficult exercise. Comprehensive planning and the careful structuring of ownership can alleviate many problems that might otherwise arise. This webinar will explore succession planning issues relevant to farming businesses with Harwood Andrews' commercial and taxation specialists; Rob Jeremiah, Principal and Accredited Specialist in Commercial Law and Tax Law and Chartered Tax Adviser, Rod Payne, Principal and Accredited Specialist in Commercial Law and Rob Warnock, Principal Lawyer and Chartered Tax Adviser. 

The issues they will discuss include:

• Farmland holding – examining consequences and options for pre and post CGT land under individual, trust and company ownership.

• Farming business – examining current structure and ability to transfer ownership, with particular regard to issues with livestock and plant and equipment.

• Potential to split the ownership or control of trusts that own farmland or the farming business.

• Retention of a level of control for mum and dad, to secure retirement income, and funding off-farm accommodation.

• Provision generally for off-farm children, whether from estates, or by charge on farmland, without unduly burdening the ongoing farming business.

• Recognition of the contribution made by the “on-farm children” to the farming business and improvements to the farmland.

• Formation of an agreement for succession/control of all family assets between family members or, if agreement not achievable, instituting succession during the parents’ lifetime to minimise testator family maintenance claims.

This webinar is best suited to advisors and family members.
Advisors are welcome to invite their clients to register for the webinar.  

This will be a live webinar, you will have the ability to interact and ask questions during the event.  It will also be recorded and all registered attendees will receive a link to the live recording a day after the event.