PLANNING FOR THE FUTURE OF YOUR FARM

Everyone is advised to make a will and revise it regularly. But that message is all the more important for farmers as ‘succession planning’ can be complex and costly if not looked at carefully, warned Lantra Sector Skills Council today (19 May 2010).The majority of farming businesses are family based, and the careful planning of succession is important to ensure that the business survives and thrives. However, many families fail to plan succession for a number of reasons, particularly as it can involve discussing difficult issues. But Yorkshire farmer Ian Woodhead was inspired to take