Our tax, trust and estate planning lawyers work hand in glove with our agricultural team to make sure our farming clients receive coordinated advice that works for both their businesses and their families. Richard Dundee, who heads up our private client team, and Hannah Lloyd have a track record in advising farming families so that the personal affairs of individual family members seamlessly interconnect with business life of the farm. They are supported by a team specialising in probate and estate administration.
Richard Dundee, Partner
Richard joined Wright Hassall at the end of 2023 and specialises in estate planning, specifically tax mitigation and preservation of assets – a skill set that is particularly pertinent to many of our farming clients. Another skill that clients might also appreciate is the fact that Richard is also a keen clay pigeon shot!
What inspired you to specialise in private client law?
After I qualified, I moved to a Trust Corporation as in-house counsel which gave me a valuable insight into the use of trusts as a really effective planning tool for agricultural (and other business) assets. Because I was dealing with many individuals who had invested their life and soul into their business, I gained real insight into the importance of helping people and their families protect what they had so carefully accumulated. It is this personal element which really motivates me – the work is varied and there is rarely a dull moment. What I particularly relish is being able to communicate the intricate aspects of trust law in an accessible and comprehensible way so that my clients genuinely understand what it is that they are agreeing to.
What’s the most interesting thing you’ve done?
The enjoyable thing about what I do is that even the smallest matter is interesting because it means so much to the client. Unlike most other businesses, you can’t separate work from life in farming so every decision impacts the farmer both inside and outside the farmhouse. Recently I’ve been advising on the management of a complex land pooling trust and additional trust structures to deal with various property and land assets for a farming family.
Which one piece of advice would you give a farming business?
Review your succession plans. I have seen too many farming partnerships being side tracked by succession issues after the death of a partner. One of the first things I like to address with a new client is to discuss what their plans are for preserving and passing assets onto the next generation. Getting such matters straight saves a great of time, money, and trouble further down the line.
Hannah Lloyd, Associate Solicitor
Hannah joined the private client team in November 2023 and specialises in tax, trust and estate planning for high net wealth individuals. Prior to qualifying as a lawyer Hannah ran a successful rural business and her background means she is particularly interested in corporate structures and generational estate planning for farming businesses- an interest that still on occasion leads to hands on involvement in the lambing shed or anywhere else where another pair of hands is needed.
How do you get to know your clients?
I find it very helpful to meet my farming clients on their own turf not least as I often pick up much more on site than I might from the confines of the office. It’s usually where clients feel most comfortable and, for me, understanding the dynamics of a family and business is extremely important, including the impacts on non-farming family members. Lately I’ve been helping clients plan for the care of senior members of the family and protecting the farming assets for future generations, structures that support IHT reliefs and asset protection and tax advice.
What makes a farming business so unique?
Farming is an all-consuming way of life and families often feel its continued presence like an additional member of the family. This burden can often leave families ill-prepared to deal with life’s challenges. Death, divorce, the need for care, can all seriously compromise the stability of the business both now and in for future generations if the right business and personal structures are not put in place. It can be daunting for families to tackle the often complex issues, especially where multiple generations are concerned, and it’s a privilege to help find pragmatic solutions.
Why Wright Hassall?
I was attracted by the firm’s reputation within the agricultural sector and its great client base that would allow me to practise in an area that I love. I’ve been extremely impressed by the collaboration between different legal disciplines and other agricultural professionals as well as the sleeves-rolled up, wellies on the ground approach to ensure that our farming clients are best supported.
