serf
Member
- Location
- warwickshire
Not particularly read it in detail but looks like they turned up on the scene , done 10 years and expect the earth
Farming family in £5million inheritance row
- Thread starter Gary Warren
- Start date
- Location
- somerset
When dealing with family, and where money is involved, don't trust anybody, unless its written down and signed.
farms, even small ones are worth a lot of money, and money brings greed and avarice to the surface. It may not be the sibling, who wants a share, but their partner, and that starts it all off.
horrible to think you cannot trust your own family, but there are plenty of us out there, that can assure you, its quite a common occurrence.
if unfortunate enough to get in a situation like this, the important thing to accept, however strongly you feel about it, is a 'deal' is one hell of a lot cheaper, than risking a court battle, where the outcome is down to one judges personal opinion of what is fair, or not.
farms, even small ones are worth a lot of money, and money brings greed and avarice to the surface. It may not be the sibling, who wants a share, but their partner, and that starts it all off.
horrible to think you cannot trust your own family, but there are plenty of us out there, that can assure you, its quite a common occurrence.
if unfortunate enough to get in a situation like this, the important thing to accept, however strongly you feel about it, is a 'deal' is one hell of a lot cheaper, than risking a court battle, where the outcome is down to one judges personal opinion of what is fair, or not.
Rich_ard
Member
Just court battle the whole lot away. No one gets anything then.
serf
Member
- Location
- warwickshire
Better off in the 30s when farms were worth fek all and a liability and you couldn't give them away ....
The trouble is some people want everything, won't do a deal and would sooner lose every penny to the legal bods rather than be sensible. I've seen it with a friend and currently dealing with an issue ( not family or inheritance related ) where a few people are potentially costing themselves a huge amount of money over a £15,000 bill each which is for work that must be done, the legal fees are already ten percent of the cost and we aren't even in court yet. Some people just want to fight
Rich_ard
Member
Agree, but some folk won't have anyone else benefit at there cost and rather lose out.
Rich_ard
Member
Them days are long gone. Not sure you would really want to go back in time though!
serf
Member
- Location
- warwickshire
Well it certainly kept the vultures at bay...
Yes have seen that many times, a few years ago a group of 12 land owners were approached by a developer with the view of building a new village all but one agreed to the option on offer which at the time was over half the agricultural value and lasted five years,it set out that the scheme stood or fell on the fact every acre was worth the same, made no difference that some was to be trees, some community facilities and some houses, both small and large ones, one guy said he wanted more as he had the biggest area despite the fact that over half his area was trees, he refused to sign so the whole lot of us lost out, that's over 30 years ago and he is still trying to sell a small area for building, at least five builders have walked away due to his greed .
Nowt so stupid as greedy folk
Rich_ard
Member
In between 2 world wars. Was it all owned by big estates in them days? They just gave or married it away!Well it certainly kept the vultures at bay...
Red Fred
Member
- Location
- Hants/Dorset border
I don't have many farming friends particularly but I have noticed that practically every non-farming acquaintance is going through some family squabble over elderly parents, the family home or who was left what, and common denominators seem to be "the crafty couple" who never did much hard work but have time on their hands to put one over on their siblings, the Cinderella who stayed at home to look after mum and dad, and the offspring who haven't spoken to the family in years after some imagined insult but then come out of the woodwork when they see some money coming their way, and start organising the elderly parents to their advantage. It isn't just farming families, it's just that our land values make it worse.
The thing with this one that leaps out at me is that they want it all whilst Mother is still alive, It would be one thing to say after her death that they were promised it all, but whilst mum is still alive and well ?
Devil's advocate
Member
- Location
- Posh side of Barnsley
Just let the rest of the family have whatever they want, then there is no problem & no legal costs. Plus the family stays in tact.
- Location
- somerset
in my case, it was mother that wanted the whole lot, so she could boast about how much she was worth, in the bank.
ps she didn't get it
pps, made it fecking complicated to sort out, now she has gone.
Re- the country's debts and Labout's threatened Wealth Tax, this left of centre economic think tank has this to say:
Experts at the IFS also urged Mr Hunt to scrap exemptions for the passing on of agricultural land.
www.telegraph.co.uk
Experts at the IFS also urged Mr Hunt to scrap exemptions for the passing on of agricultural land.
Hunt urged to launch inheritance tax raid on unspent pension pots
Treasury could raise up to £2bn by scrapping exemption on savings, think tank says
www.telegraph.co.uk
kiwi pom
Member
- Location
- canterbury NZ
I get what you’re saying here but I’d push back a bit on the narrative that it’s always the non farming members (or their partners) who are the only greedy ones.
It’s amazing how many who stay on the farm and have been provided a living from it think they should get it all.
I think your don’t trust anyone often applies to ALL family members.
- Location
- Aberdeenshire
2 billion over a decade!Re- the country's debts and Labout's threatened Wealth Tax, this left of centre economic think tank has this to say:
Experts at the IFS also urged Mr Hunt to scrap exemptions for the passing on of agricultural land.
Hunt urged to launch inheritance tax raid on unspent pension pots
Treasury could raise up to £2bn by scrapping exemption on savings, think tank says
And would probably wipe 20 billion off the property market...
Rich_ard
Member
It might improve succession in ag if it was removed. Farmers would have to retire then let someone else take over. It would be sorted out before death. If that's possible, could be the death of some!
Yep. It's chicken feed but farmland, after housing, is the last great national resource Gov.UK can cream off.
Google says:
The UK government’s total annual revenue is expected to be £1,102.0 billion in March 2024. This includes £1,035.1 billion from central government and £66.9 billion from local authorities. The majority of the revenue comes from three main sources: income tax, National Insurance contributions (NICs), and value added tax (VAT). In 2022/23, over £246.8 billion came from Income Tax, £76 billion from National Insurance, and £159.53 billion from Value-Added Tax. UK government debt was £2,436.7 billion at the end of Quarter 2 (Apr to June) 2022, equivalent to 101.9% of gross domestic product (GDP).
AI-generated answer. Please verify critical facts.
Expanded and improved Sustainable Farming Incentive offer for farmers published
Expanded Sustainable Farming Incentive offer from July will give the sector a clear path forward and boost farm business resilience.
From: Department for Environment, Food & Rural Affairs and The Rt Hon Sir Mark Spencer MP Published21 May 2024
Full details of the expanded and improved Sustainable Farming Incentive (SFI) offer available to farmers from July have been published by the...
From: Department for Environment, Food & Rural Affairs and The Rt Hon Sir Mark Spencer MP Published21 May 2024
Full details of the expanded and improved Sustainable Farming Incentive (SFI) offer available to farmers from July have been published by the...