Experts advise farmers how to survive in modern times

Photo caption: From left to right Mike Butler (Old Mill), Carl Woodwards (Lloyds), Richard Nocton (Woolley & Wallis), John Unsworth (Lloyds), Mike Muston (Withy King), Max Sealy George Drewett (Farm Consultancy Group) and Ricky Haines (Old Mill).

Withy King, Old Mill, Lloyds, Woolley & Wallis and the Farm Consultancy Group advised on topics such as maximising profitability and property values, turning a crisis back into a drama and inheritance disputes.

Mike Muston, a solicitor in our Inheritance & Trust Disputes team, spoke about the thorny issue of inheritances. He said “There have been many cases where promises of inheriting the family farm have been broken but when contested, the courts have supported the original verbal promise. This is worth bearing in mind when speaking to family members and employees about succession and who the farm will be passed on to in the future. We always advise farmers and rural business owners who often have substantial assets, to plan ahead and structure their affairs carefully, not just for tax reasons but also to ensure continuity and avoid disputes arising.”

The meeting was chaired by Richard Haines, director in the rural team of Old Mill in Melksham. He commented “With well over 200 people in the meeting, it shows the passion with which the farming community is keen to ensure they have a future in the business. Including professionals from five different types of agricultural advisory businesses at this event demonstrates the wide range of help that is available to them.”

Photo caption: From left to right Mike Butler (Old Mill), Carl Woodwards (Lloyds), Richard Nocton (Woolley & Wallis), John Unsworth (Lloyds), Mike Muston (Withy King), Max Sealy George Drewett (Farm Consultancy Group) and Ricky Haines (Old Mill).