Running a farm requires a team, which includes your bank manager, accountant, stock agent, farm advisor and your lawyer. At its heart a farm is a business and many of the legal needs of a farming business are similar to those of other businesses However farming, more so than other businesses, is also a lifestyle and can come with intergenerational family ties to the land. When approaching legal issues in farming, you often have to take into account the intergenerational aspects of the farm including the needs of the current owners, the needs of those that have come before and the needs and wants of the future farmers.
Farm ownership comes in many forms, including trusts, companies, partnerships, and sole ownership. There can also be different entities within one farm, for example a family trust owning the land and another entity farming the land, owning the livestock, plant and machinery. The decision makers involved in both the landowner and the farmer may be the same, but the structure is set up for risk management and tax efficiencies. Navigating the complexities of the ownership of the farm is something to talk about with your team.
Our team at Evans Henderson Woodbridge thrive on being part of your team, we want to get to know your business and work with your team members to help your farm thrive not just now but for the future.
Our expertise includes purchasing and selling farms, rural leasing, ownership structures, succession planning and refinancing, including releasing equity from the farm to assist the wider family or for the purchase of other investments, such as a bach or retirement home.
Sitting behind all of that is the farmer who requires other matters such as a Powers of Attorney, Wills and comfort knowing that the toil and hard work they have put into their farm is in safe hands going forward.
The myriad of legal issues that farmers face presents a legal challenge. As farmers and working in a rural community with and for farmers, Evans Henderson Woodbridge enjoys that challenge and is well placed to deal with any legal issue that may be faced by the farmer.
