"Would I Be An Executor?"

Nick Parmee's Times Online humorous article last week made me smile. He answered his own question "Yes, but it can be quite a burden."

An old friend (referred to as "Fred") had invited him to act as his executor and, flattered by the implied compliment to his "personal integrity and organisational powers", he accepted.

The will was up-to-date so no problem he thought - probate simply a couple of agreeable lunches spent reminiscing, signing a few papers provided by "old-fashioned lawyers with dandruffy cardigans"!!!

In his terms "nonchalance turned out to be far from reality"!!

Problem No 1- organising the funeral - it took nearly 2 weeks - no one knew what Fred wanted - cremation/burial, wake/no wake etc etc.

Problem No 2 - Fred's current account (from which household accounts were paid) was frozen and his widow had no account of her own.

Problem No 3 - myriad of finance houses all issuing letters from "Deep Sympathy" computer refusing to communicate without death certificates and he'd only bought one!

Problem No 4 - he needed a lawyer/accountant/estate agent/personal effects valuer and wished they'd all been lined up by Fred in advance rather than it being left to him to choose "with less time to assess the choies than you'd spend in the supermarket wine section on Friday evening."

Problem No 5 - tracking down ALL insurance companies, building societies, credit card companies, shop accounts etc etc...

Nick then refered to Fred using the website Lasting Post The service aimed at helping you plan for your own demise - Have a look at it!

Not too happy about his view of probate lawyers as being old fashioned "with dandruffy cardigans" - in my experience in 2010 they are mainly young, female, pretty, "sassy" (me excluded)!! Check out our website - and our people

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

Mobile Telephone Mast Lease Agreements - Farmers could Lose Thousands

Neil Stevenson, one of my "highly regarded" colleagues is advising farmers, who have rented out sites for mobile telephone masts, to check their legal agreements.

They may run the risk of losing much-needed income due to the current consolidation of the mobile telecoms industry.

check it out Mobile Phone Company's Mergers May Impact Upon Farmers Incomes

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

Legal 500 - the bible of the legal business recommends Latimer Hinks

The Legal 500 is the most widely used legal directory in the UK and is considered to be "the bible of the legal business". The Legal 500 ranks law firms in terms of their expertise and performance.Latimer Hinks has once again achieved recommendation - and this time more of our Partners are recognised!

Good work!

Agriculture & Estates
Clients praise Latimer Hinks’ ‘vast knowledge of agricultural law and understanding of matters influencing the market‘. Anne Elliott (me) is a ‘noted expert in the field of landlord and tenant‘, and Tim Haggie is recommended for estate management, strategy and planning. Instructions include advising farmers in negotiation with Broadview Energy over a wind farm development (which also involved Neil Stevenson) in North Yorkshire.

Personal Tax, Trusts & Probate
Anne Elliott (me again!)at Latimer Hinks is noted for her expertise in inheritance tax and capital gains tax planning.

Real Estate
Mark Clayton leads a ‘very proficient‘ team at Latimer Hinks that had a busy year advising on numerous retail properties.

Corporate & Commercial
Nick Poole heads the Latimer Hinks team, which acted on a multimillion-pound refinancing of a group of hotels. Clients acknowledge the practice as ‘one of the best in the local market‘.

Commercial Litigation
Latimer Hinks is noted for its insolvency, debt recovery and bankruptcy practice. Mark Gardner is recommended.
Legal 500 Recommendations 2007
Legal 500 Recommendations 2008

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!