Posted on 29th October 2007

Special Briefing Addresses Future for Farmers

Rural specialists are teaming up for a special briefing aimed at offering local farming families practical advice on how to prepare for the future. Anne Elliott, partner at Darlington law firm Latimer Hinks, who is endorsed for her agricultural and rural affairs work by two of the UKs most influential legal publications, Chambers and Legal 500, and Philip Coles, lead partner at main sponsor of the event Smiths Gore, will be among experts speaking at Farming: The Next Generation on 8th November 2007 at the Pavilions of Harrogate, Great Yorkshire Showground. Richard Benson, author of the acclaimed Yorkshire-based book The Farm, will also be a keynote speaker. The Farm is a true, personal account of the changes in the farming industry over the past 30 years, and the decisions that the family had to make in order to survive. Anne Elliott will tackle partnership agreements, wills and trusts, and generally the legal issues relevant to succession planning and protection of assets. Philip Coles will offer advice on business management, ownership, land tenure and business structures. Anne Elliott said: Planning for the future is vital for any business but in agriculture it is especially important, as the farm is much more than just a commercial enterprise. Farmers and their advisers must understand both the emotional and financial impact that lack of arrangements can have on their families. Wills and tax implications are especially important. This type of briefing is very important and useful as it brings together speakers with different areas of expertise with first-hand experience of the issues of succession planning. Philip Coles said: In recent years, the agricultural industry has had to face huge challenges over the last few decades and it is vitally important that farming families are given specialist professional advice to make the decisions that ensure the future of their business. Smiths Gore is delighted to be involved in this important event, which will offer farmers and the professionals working with families the opportunity to meet each other so as to better assist farmers make those significant decisions.