The long-running BBC Radio 4 soap opera, The Archers, has been praised for highlighting the importance of ensuring farming families consider estate planning implications following life and family changes.
A story line, which reached a climactic point last week, involved concerned mother, Pat Archer, advising her son, Tom, to make a pre-nuptial agreement or other estate planning protection after his quickly escalating romance resulted in marriage to Natasha.
The Archer parents had been discussing the dilemma until the issue reached boiling point when they broached the idea with the younger couple. Whilst Tom was upset in the suggested lack of confidence his parents have in Tom and Natasha’s relationship, Natasha could see the benefits in making a document protecting the farm.
Worried that a change in circumstance could result in the dissolution of the family farm, the parents wanted to be sure that the farm remained intact and within the family if Tom lost his life or in the event of a divorce. Whilst this may be difficult to consider when a marriage is still in its infancy, there have been instances of families torn apart because of inadequate protections or the wishes of the deceased not being made legally or officially clear.
Earlier this year, a life long farmer, Sally Kingsley won a High Court battle preventing her sister-in-law from selling her percentage of the family farm she inherited from her deceased husband, who was also Sally’s brother, on the open market.
The presiding judge in the case, Judge Ashworth, acknowledged the fact that an open sale would lead to the farm dissolving along with Sally’s livelihood, something the judge felt was unjust; especially given Mr Kingsley’s intentions that the farm’s ownership remain within the Kingsley family.
Judge Ashworth ordered a two-month reprieve on any open market sale, allowing Sally Kingsley to raise the funds needed to buy out her sister-in-law’s 50% share of the £3.245 million Hertfordshire estate.
Failing this, the farm was set to be sold on the open market for the best possible price which could result in the farm being carved up and sold in pieces of land.
Furthermore, the judge ordered a possession order on two additional parcels of land that were farmed by Sally Kingsley but solely owned by Mr Kingsley, Karim and her sister, Maria Wheeler. It was claimed that permission for farming this land was not granted beyond Mr Kingsley’s death.
Anne Elliott, CEO of Latimer Hinks Solicitors, said:
“For farming families, the subject of ownership and rights to property is incredibly important, and it’s fantastic that the script writers at The Archers are giving the issue some exposure.
“It’s very common for families to feel apprehensive about broaching sensitive subjects, such as pre or post-nuptial agreements. However if parents in a similar position to Pat and Tony feel uncomfortable discussing it with their son or daughter, they could perhaps make amendments to their own wills to protect their child and ringfence what is intended for their own ‘Tom’ rather than being concerned it will go to a spouse following a divorce.
“It can seem in poor taste to think about the potential of a marriage breaking down when the couple are still in the honeymoon phase or before they’ve even walked down the aisle. However, it is important to discuss inheritance in relation to any big life event, for example a birth, marriage, divorce, death or bankruptcy. It is particularly relevant for the farming community, as the property and the business are the “family silver” and the assets provide a livelihood for everyone.
“These issues all need to be addressed. A marriage will often change the family dynamics and a divorce can often split not only the family but the assets on which the family live and depend.
“Whether the path to the Tom/Natasha Post-Nuptial Agreement runs smoothly remains to be seen!”
How important is it to advise farming families to regularly consider estate planning strategies? Do you agree with the suggestions made to Tom by the Archer family?
