This handbook will help farmers and landowners to decide whether to and how to pass the farm on to the next generation.
The timely handover of a farm from one generation to the next is important from a productivity standpoint and for the wellbeing of the farming family. Farms lacking a successor are less likely to be managed intensively and the business may be gradually wound down and de-capitalised.
Succession planning is an ongoing process and should involve all family members, including the younger generation – often excluded by the legal profession. A farming family that suffers the sudden death of the older generation and is without a succession plan risks confusion which can destroy the family.
Family farm advisers will also find this handbook useful as farm succession is a broad subject covering several professional disciplines.
The handbook looks at tax and legal issues, partnerships as they affect succession, the problem of scale, the distinct roles of the incoming and exiting generations, the concept of sweat equity and gives examples of the steps necessary for successful succession planning.
To order this handbook:
telephone the CLA Publications Department on 020 7235 0511 – please have your membership and credit card numbers to hand;
write to the CLA Publications Department, 16 Belgrave Square, London, SW1X 8PQ enclosing cheque/postal orders made payable to CLA.
Price for members: £22 - Price for non-members: £29