The impact of divorce on any business can be significant, but in farming a divorce can have a crippling effect on the future viability of the farm.
In this series of blogs, Laura Lambert, family law solicitor at Ansons Solicitors advises on ways to limit the impact of divorce on your farming business.
While remarriage may not be on your mind straight away, you do not know what the future holds. If there is going to be a ‘next time’ you should give serious consideration to making a prenuptial agreement.
With a prenuptial agreement you can set out what you will each bring to the marriage and divide how your assets will be split if you later separate. You could build in some protection, for the future of your farming business and for your children.
The complex structure of farming businesses; including the partnership structure, the seasonal variations of farming, the timing of state subsidies, specialised agricultural tenancies and any contracting arrangements in place, requires specialist knowledge and legal advice.
At Ansons Solicitors, our agricultural law team has experts in:
For more advice on divorce and financial settlements, contact Laura Lambert in the Cannock office on 01543 431 996 or email firstname.lastname@example.org or Susan Davies at the Lichfield office on 01543 267 190 or email email@example.com.
This article is for general information purposes only and does not constitute legal or professional advice. It should not be used as a substitute for legal advice relating to your particular circumstances. Please note that the law may have changed since the date this article was published.