Clarke Willmott LLP has seen a rise in requests for pre-nuptial and post-nuptial agreements from farming families, spurred by new government inheritance tax changes. These changes make succession planning critical, as agricultural assets may face significant taxation. Expert Holly Smith emphasized the value of nuptial agreements in protecting family assets and ensuring they remain within the family through proper legal frameworks. Legal advice is crucial for navigating these challenges, and proactive planning can help mitigate risks, reduce disputes, and sustain agricultural heritage in the long term.
"Many farming families recognise the importance of protecting specific assets and ensuring they stay within the family. A nuptial agreement can clarify ownership and outline how assets—including future inheritance and business interests—will be managed in the event of a divorce."
"We understand how concerned our agricultural clients are about these new rules. Seeking legal advice now is essential to mitigate risks and protect family assets."
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