What is a fair way to split up fariming assets to siblings

confusedsibling

Member
Mixed Farmer
Location
God's own County
Your correct it don't matter, and any advice should be natural,
But it does show i read all of your posts before making a comment,
Its seems a lot only read half before making comment, I do wonder if having only read half, means the comment is not taking in the full facts, and skewing there judgement

indeed, serious post and easy to misinterpret I suppose.


😘
 

chipchap

Member
Mixed Farmer
Location
South Shropshire
Just a word of comment.
None of us knows for sure what a will contains until after the relevant person has died, and there is no chance to change or comment on the contents. Of course we may or may not think we know what the will says, but sometimes people are disingenuous during their lifetime, and the will is a surprise or disappointment for some.
Often a more transparent approach for a family partnership is to cover the inheritance of business assets in the partnership agreement, which takes legal precedence over a will in usual circumstances. Everything is out in the open at an early stage, and there is no argument following a death when everybody has enough on their plate grieving.
 

kiwi pom

Member
Location
canterbury NZ
Not sure HMRC would define me as a farm worker exactly but certainly heavily involved in all that’s needed running land with associated assets 😃

I do get my nails dirty most days in one way or another though!

You said in your OP you worked full time on your parents farm that they still run and you draw a salary from the farm.
That's exactly what a farm worker is surely?

If the business owns the houses and both siblings work in the business then aren't the houses considered employees accommodation?
If that's the case neither one is yours or your brothers, it's just where the business has put you. Unless your parents will says, you get property A and your brother gets B, wont both houses just be assets that need to be equally split?
What happens to your parents house?
I think there's deeper problems that need professional advice here.
 

Overby

Member
Mixed Farmer
Location
South West
It's a major issue is if 'awkward' personalities are involved.
What is blindingly obviously fair and normal to everyone else can go out the window as feet are stamped and tantrums thrown.
Sadly I speak from experience from dealing with parties who have known for 30 years exactly what is coming but pretend to this day they are unaware and just plough on as usual, assuming they won't be challenged and their latest made up drivel will be swallowed by all.
It's energy sapping and very difficult, we all want to keep the peace but sometimes it's impossible.
Get things sorted early, in writing, with outside help would be my suggestion.
It seems that 'sheltered and deluded' individuals are rather too frequent in our industry unfortunately..
 

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