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.
If you are getting divorced, it is a legal requirement that you provide full and frank financial disclosure of your respective financial position to each other. For farmers, this will include information on how your assets are held, disclosure of the latest management accounts, a review of income generation, forecasted spending and valuations of land and buildings. Provide as much information as early as possible to avoid argument and mistrust.
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.