I LIVE and farm near Blandford in Dorset, having taken on the farm when my father passed away 25 years ago. We farm combinable crops, and have a range of buildings that are let for commercial use.
The farm has been involved in Countryside stewardship for the last thirty years. Bournemouth university also hold an Archaeological dig on the farm since 2009 looking at rural life in the Iron and Roman age.
After finishing as Chair of Dorset County show, which coincided with Covid, I picked up the phone to volunteer for FCN - I wanted to give back to my farming community and help in anyway I could. I certainly never imagined I would become co-ordinator!
Running a farming business as a single mother has had its challenges and also studying the topic of family inheritance through a Nuffield scholarship has given me the skill set to help those that need some support via FCN.
Within Dorset we get many varied issues referred to my fantastic group of volunteers - the more complex ones are often layers of issues, and can centre around the inheritance planning or lack of it and the frustrations that come with it.
Working, living and being with family members can be a strain at anytime and not dealing or discussing your plans over inheritance can cause massive rifts in a business.
When thinking about inheritance there are some steps that should be considered:
n Have a plan for the business and how succession looks, remembering that the business and assets are separate entities and can be passed down separately.
n Discuss your plan with all family members and the reasons behind the plan. Explain why on paper things may look unequal.
n If discussions are tricky, involve outside facilitator or advice.
n Make sure any will is properly documented.
n Consider trusts and life policies. Life policies can help with any taxation but also facilitate for off farm beneficiaries.
Why would the matriarch of the family, not give their children responsibility and skill set to take on the business? None of us know how long we will be here for, but having your beneficiaries capable, prepared and ready for that change, is in my view the final gift of parenting.
Bec Hill, Joint Coordinator for Dorset FCN
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