Finance for Farmers - follow up

If you really wanted to attend the Latimer Hinks/Barclays presentation on Finance for Farmers but were unable to make it - here is a brief outline of what was discussed

FINANCIAL SEMINAR FOR FARMERS

Latimer Hinks Solicitors have recently co-hosted with Barclays Bank a breakfast presentation on the theme “Finance for Farmers 2010.”

Issues explored included lending in the current financial climate, the legal issues surrounding providing security for borrowing and the importance of planning for the future and how to achieve it.

Presentations were given by Anne Elliott and Rosanne Green, Agricultural Specialists at Latimer Hinks Solicitors and Martin Redfearn, National Agricultural Specialist with Barclays Bank.

Rosanne Green outlined the legal formalities relevant to providing Banks with security for lending.

One of the important factors highlighted was that the borrowers and the owner occupiers may need to seek separate legal advice.

Rosanne used the example parents owning a farm, but the borrowing being taken by the farming partnership, perhaps including not only the parents but sons/daughters/daughters-in-law etc. Each would need to be advised in their different capacities.

Anne Elliott explained that at the point in time where borrowing is being taken/considered it is very important to look at the structure of the business and the aspirations/intentions of the various parties.

She stressed it was important for farmers to talk to all their advisers - the bank, the accountant, property or personal lawyer and financial adviser in terms of analysing where a business is going and, importantly, succession planning for older generations.

Anne Elliott said: “The event provided a range of practical advice and information which those attending could take on board and which I hope will prove useful in their farming businesses.

It was good to provide the opportunity for people to hear what is involved in relation to setting up and finalising borrowing arrangements and also to talk informally to professional advisers.”

The event was of course followed by a breakfast of bacon and sausage sarnies!

Finance for Farmers

WE are hosting a breakfast presentation on the morning of Thursday 28th January with Barclays Bank Plc entitled "Finance for Farmers 2010". The presentation will cover the Bank's perspective on lending to the agricultural sector in the current financial climate and the legal issues encountered when borrowing money.

The presentation is from 7.45 am and will commence at 8.00 am. It is being held at Crabtree Hall, Little Holtby, Richmond (see http://www.crabtreehall.com/). Martin Redfearn, Barclays Bank National Agricultural Specialist will start the presentation followed by Rosanne Green and Anne Elliott, Agriculture specialists at Latimer Hinks. There will also be an opportunity to talk to Neil Stevenson our Wind Farm specialist.

The presentation will end with a bacon sandwich and an opportunity to discuss matters further on an informal basis.

If you would like to attend please contact Andrea Tobin on 01325 341507 or at@latimerhinks.co.uk. For more information please see www.latimerhinks.co.uk/events

Top Ranked In Chambers

I, Anne Elliott have been Top Ranked in the Chambers UK directory (ranked third in Agriculture and Rural Affairs for the North East area)- it's quite a pat on the back.

For twenty years, Chambers has been a leading directory of the legal profession. Their reputation is based on the independence and objectivity research - Chambers is a reliable and respected source.

...and here is the ranking

A specialist in agricultural work and with a deep knowledge of rural matters, this firm is noted for its involvement with the Yorkshire Rural Support Network, in which capacity Anne Elliott has been raising the profile of succession planning within the farming community. Described as “forthright and knowledgeable” and one of the “key experts in the North East,” Elliott has also been appointed to the panel of the Tenant Farmers Association. She does a considerable amount of tax planning, trusts, agricultural holdings, and landlord and tenant work.

More info on Latimer Hinks services can be found here Latimer Hinks Agricultural Law

Succession Planning for Farmers - a talk!

Back in 2007 and 2008 I (Anne Elliott, Partner at Latimer Hinks Solicitors) was invited to speak at a Farming Conference targeted at succession planning for farmers and their families (and other interested parties).

Well, it must have "hit the spot" as Robert Dunning (an accountant on the platform with me) and I have been invited back to speak again on the same topic.

"Where and when?" you ask....

Thursday, 8th October 2009 at 6.30pm
The Sportman's Arms, Wath, Nr Pateley Bridge - Succession Planning

The aim is to tell a few tales to "encourage" (for which read "terrify") farmers into planning for family succession, retirement and their exit from the farming business (whether they decide to "go quietly" or die "with their boots on"!).

It will be an informal event with every opportunity given to ask questions and to seek information on all sorts of issues including Will making, family trusts, exit strategies and options.

Did you know 50% of farmers in the Yorkshire Dales haven't made a will!!

If you have a special interest in this topic (you may already advise on these issues) and live in or around the Pateley Bridge area, let me know - you may be able to come along, though numbers are limited!

Succession Planning for Farmers - Taking Control

We're writing an article for the Country Land Association on Succession Planning and I thought I'd share the final version with you.

Succession Planning - Taking Control

It's very easy for me (as a legal professional) to suggest that Succession Planning is required

BUT people are reluctant to talk about anything which involves finances, retirement, death etc. Hopefully this article will make things a little easier along with the accompanying fact sheet Succeeding at Succession.

However, it goes without saying always take expert legal advice!