Know How / Succession planning

The smooth transition of a farm business from one generation to the next is a challenging – but incredibly important – process. See how the experts think you should start the succession planning conversation and read about the property, legal and tax implications you will need to consider.

Case studies

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PARTNERSHIPS

Video: Share farming partnership gives young farmer a break

Young farmer Aled Morgan faced a tough future in farming - with a family farm not big enough for both him and his brother to work on, there were few…

SUCCESSION PLANNING

Will Sargent: Disaster shouldn't spark farm succession talk

Usually, when I write articles for Farmers Weekly I show them to my dad before sending them off. I always wanted to make sure the boss was happy with what…

SUCCESSION PLANNING

How a young farmworker helped solve a succession crisis

The owner of an upland sheep and cattle farm in South Wales has sorted out her succession plan by bringing her farmworker into the business as a junior partner and…

LAND MARKETS

Video: Farming family sells estate after 70 years

Succession planning is commonly defined as the process of passing a farm from one generation to the next. Done properly the outcome should provide clarity over the future of the…

Practical advice

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BUSINESS MANAGEMENT

Guide to farming agreements and how to set them up

Few farmers fully retire, but more are now choosing to step back from the day-to-day business of running a farm by bringing another person into the enterprise.   Joint ventures…

TAX

Inheritance tax: Why correct Land Registry records are vital

Farmers will find it easier to protect inheritance tax reliefs if they first register all land with the Land Registry to establish who owns what within a partnership. A large…

SUCCESSION PLANNING

Why failing to tackle succession can destroy a farm business

Farmers are putting their businesses at risk by failing to tackle the thorny issue of succession as they are worried about jeopardising relations with family members, a mediation expert has…

PARTNERSHIPS

Share farming: How it works and why it could reshape farming

If a quarter of farmers in England aged over 65 entered into a share farming agreement we could have nearly 8,000 new entrants working the land, according to Christopher Price,…

BUSINESS MANAGEMENT

How mediation can help resolve farm planning disputes

When planning for the future ends with multiple parties at loggerheads, no one is a winner­­­­ and the farm business can suffer as a result. That’s why some families are…

SUCCESSION PLANNING

Leaving the farm to children: Farm succession advice

“Fair” and “equal” are not necessarily the same thing when it comes to farming succession and passing on assets. US attorney and adviser John Baker works for the Iowa State…

Insights

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SUCCESSION PLANNING

Why acting early is key for a smooth farm succession

Succession doesn't just happen, so don't put it off - this was clear advice for farming families at Farmers Weekly's recent farm succession planning conference. Ensuring the smooth transition of…

BUSINESS

Experts give their tips on farm succession

Despite the importance of succession planning, some 60% of family farms don’t have a written plan, according to Farmers Weekly research. Yet 58% of farm owners readily accept that the…

SUCCESSION PLANNING

How to arrest the decline in small family farms

The small family farm, built on the labour of one or two people and typically covering less than 100ha, has traditionally formed the backbone of UK agriculture. These farms still…

Succession planning: Not easy, but essential

My father and I have finally tackled the thorny matter of succession. I can’t see why most farmers make such a fuss about it – it barely took us a…