Farming Wills are a very specialist area, as is probate for farmers. Here is a question concerning farming Wills.
My late mother, my farther and three brothers were equal partners in farming industry. They own eleven farms, plus stock and machinery, personal accounts, partnership accounts and Ltd company accounts.
When my mother passed away two and half years ago, the will was read that her estate to be shared equally between the five of us, my farther and three brothers and myself.
I have been told by the family experts that I am only entitled to a share of her personal account and two of the farms because she was only registered with these two on the land Registry. The accountant says I am entitled to a share of all farms and on a annual share of the profits partnership and from the ltd company, as she was an equal share holder.
Can you please advise.
Farming Wills Reply
On the face of it, the fact that she was not registered as an owner is irrelevant if the company owned the farms – but it may not have. So you could own a share in a ltd company which farms the farm, and be entitled to dividends etc from that, whilst not owning a share in the underlying farm.
If the deeds of the farm where in the names of other people (i.e. not the company) then it is possible that the other 9 farms were not hers to leave – even though she could leave the shares in the company that farmed them in her farming Will.
Our Will writing department works closely with one of the leading experts on Farm Law to try to ensure that such problems do not arise.
I would suggest that the experts and the accountant have a conversation to clarify matters for you.
It is perhaps unnecessary to point out to you that your own Wills and Legal Planning and that of you family need thorough review so that you can be sure of what the consequences of any death or illness will be.
(Please remember that The Probate Department is NOT a Government Department – that is the Probate REGISTRY, and our answers are general, based only on limited information. Farming Wills are a VERY specialist area.)