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.
As farmers, you may not personally own the assets and resources that you and your family use and enjoy. Your farm may have been held for generations and in diverse forms of ownership. The assets could be owned by a limited company, through a trust or family partnership.
It is far trickier in farming divorces to establish which spouse owns what. The main challenge for you, and your respective lawyers, is to work out how each of you and any children can be provided for without forcing a sale of any of the assets.
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:
company and commercial law;
tax planning and trusts;
wills and probate;
dispute resolution; and
environmental and planning.
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.