What can go wrong when there is no plan for succession
Having a succession plan in place is crucially important for farming families, as it can help prevent serious disagreements and the emotional turmoil that can come with them, as well as the cost of solicitors’ fees if those disagreements end up in court. Speaking in the Farm of the Future webinar, ‘Planning for succession: Why, when and how’, litigation solicitor Esther Woolford from the Clarke Willmott agriculture team shared how disagreements around farm business succession can end up in the courts. She said: “In a farming family, the business is interwoven into the fabric of the family, and agreements can be reached around that kitchen table, but not documented, and unfortunately, sometimes disputes may follow.” Common scenarios that can