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farming partnership agreement
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<blockquote data-quote="Daniel Larn" data-source="post: 5167076" data-attributes="member: 85158"><p>A well thought out legally explicit agreement is always 'useful', how useful is always up for debate.</p><p></p><p>Are you likely to get into some legal quarrel with your parents over anything? If so, an agreement will likely save you some money, as it will speed up that process and *guarantee* a result that you should be satisfied with (assuming any settlement is based on terms set out in that agreement).</p><p></p><p>If however, you aren't that worried about a legal challenge, and you are worried about some business/personal tax implications. Speak to a specialist accountant, as you can usually get a consultation and some fairly good advice for free.</p><p></p><p>The accountant may advise you to see a solicitor anyway, but I think it would depend on your circumstances a little bit.</p><p></p><p>This is just my opinion, so don't take my advice as anything other than that.</p></blockquote><p></p>
[QUOTE="Daniel Larn, post: 5167076, member: 85158"] A well thought out legally explicit agreement is always 'useful', how useful is always up for debate. Are you likely to get into some legal quarrel with your parents over anything? If so, an agreement will likely save you some money, as it will speed up that process and *guarantee* a result that you should be satisfied with (assuming any settlement is based on terms set out in that agreement). If however, you aren't that worried about a legal challenge, and you are worried about some business/personal tax implications. Speak to a specialist accountant, as you can usually get a consultation and some fairly good advice for free. The accountant may advise you to see a solicitor anyway, but I think it would depend on your circumstances a little bit. This is just my opinion, so don't take my advice as anything other than that. [/QUOTE]
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