Financial Planning for Farming Families: Succession, Protection and Pensions
Hoxton Videos • Financial Planning for Farming Families: Succession, Protection and Pensions
For farming families, planning for the future means more than managing the day-to-day running of the farm. It also means thinking about how the business will be protected, how assets will pass to the next generation, and how changes to inheritance tax and pension rules could affect the family.
In this video, Hoxton Wealth Financial Planner Teresa Dunning discusses three important areas of financial planning for farmers and agricultural businesses, and why early conversations can help families make more informed decisions.
What the video covers:
- Inheritance tax and farm succession planning: why reviewing wills, partnership agreements, agricultural and non-agricultural assets, and plans for the next generation matters, and the consequences of leaving succession decisions too late
- Key person protection: how the death or serious illness of a key family member or employee could affect a farm’s finances, and how business protection insurance may help
- Pensions and the April 2027 inheritance tax changes: why reviewing pension values, beneficiary nominations and the wider family estate is important
Financial planning for farming families needs to consider both the business and the people who depend on it. If you haven’t reviewed your succession, inheritance tax, pension or business protection arrangements recently, this is a useful place to start.
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