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Legal updates

18 October 2023 Wills and estates

Both locally and nationally, many farms have diversified to provide additional income streams - and some farmers now run several diversified businesses on former agricultural land, such as holiday lets and solar farms. Although this extra income may be vital and diversifying may be the only way to secure the family business can continue, an unintended consequence can be the loss of Inheritance Tax reliefs available. Laura Schofield, Wills & Probate Solicitor with Ware & Kay, considers this. Inheritance tax – the basics Inheritance Tax is a tax on the estate of someone who has died. The rate is 40% on the amount above the ‘nil rate band’ which depends on the individual concerned and the assets – from £325,000 to £500,000 per person, or up to £1,000,000 per couple depending on the size of…

21 September 2023 Residential property

There are many reasons why you might want to buy agricultural property: to farm, of course, but also perhaps to develop, or to use for hunting or fishing purposes. Woodland, equestrian properties and fishing lakes may be a good investment for a self-invested personal pension (SIPP), or perhaps you simply wish to have a peaceful rural setting for your retirement.  Whatever your reasons, before you buy you need to ensure the property can actually be used for your intended purposes as there are many legal stumbling blocks that can arise when purchasing farmland, we highlight some of the issues relating to rights of way, easements, and sporting rights. Rights of way Many areas of farmland are in remote locations, some distance from a public road, and you will need to ensure you have a right of access…
12 July 2023 Wills and estates

It's difficult enough to deal with a loved one's death. Additionally, organising their funds can be a difficult and drawn-out procedure. The executors designated in the will to carry out the deceased's wishes need legal custody over their assets, which is referred to as probate. In order to acquire access to the bank accounts of a deceased person and organise their property and goods. According to official statistics, approximately 250,000 petitions for probate are filed each year in England and Wales. What is probate? Executors are given access to a decedent's assets and the authority to distribute them through the legal process of probate, also known as estate management. The phrase "estate" refers to all their assets, including real estate, cash, and personal belongings. The personal representative is the individual who has been granted probate. Do…
28 June 2023 Litigation

In the recent case of Hughes v Pritchard and others the court dismissed a claim brought by the estate of one of the Deceased’s sons despite pre-existing findings that the deceased had promised that son the entirety of his farmland and that the son had relied on the promise. The Deceased Evan Richard Hughes died on 7 March 2017 aged 84 years. He was a cattle farmer with 137 acres of farmland and other property including a family building business. He had three children Gareth, Carys and Elfed; Elfed had tragically taken his own life in 2015. The Deceased had made three Wills in 1990, 2005 and 2016. By the 2005 Will he left his shares in the family business to Gareth and Carys and all his farmland to Elfed; the original trial judge found…
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