Farming: importance of a will to avert large inheritance tax bill

In cases involving a farming partnership agreement, dying intestate can create complex and long-running legal and tax issues so it is essential to write a will if only to avoid acrimonious family disputes about inheritance and succession, explains Julie Butler FCA, partner at Butler & Co

A farmer may die without a will for a number of reasons, including lacking the money for legal fees, avoiding difficult decisions, or simply being unaware of intestacy. With the high value of farms, intestacy can be very damaging and lead to fragmentation.

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