Why is asset valuation important when a farming relationship breaks down?

A relationship breakdown is often stressful, with couples having to divide their belongings to achieve a fair financial settlement. For farming families, unique and complex challenges can arise following a break-up and the subsequent division of assets. Farming businesses, says Samantha Sinclair, Head of Family Law at Ware & Kay incorporating Pearsons & Ward Solicitors in Malton, York and Wetherby, are often passed down through many generations. There are frequently third parties who can claim an interest in the farm. Accurately valuing all farming assets and determining who owns what is therefore vital before a financial settlement can be worked out.  As with any other split, the aim when a farming couple divorce is to reach a fair financial settlement, taking into account the contribution each has made to the farm, the needs of any…

  How is future earning potential considered in a financial settlement?

When navigating a divorce or dissolution of a civil partnership, financial stability is a priority. Future earning potential often plays a key role, particularly if one partner sacrificed their career to support the family or enable the other to progress professionally. ‘You may also wonder how plans to retire early or reduce work hours could impact this,’ says Samantha Sinclair, Head of Family Law at Ware & Kay. ‘Understanding how future earnings are considered can help you make informed decisions and prepare effectively.’  The Court’s Approach When determining a financial settlement, the court considers all relevant circumstances, including future earning potential. This assessment may involve: Current work and earnings; Qualifications and skills; Experience and employment history; Projections of future earning capacity. Future earnings are vital for assessing income needs but are not treated…

Selling a shared ownership property

The popularity of shared ownership continues to grow; there are now over quarter of a million shared ownership homes in the country. The appeal is understandable; it bridges the gap between renting and outright ownership and has helped many take a first step onto the property ladder. However, it differs significantly from more conventional forms of ownership. ‘Shared ownership is a great way of buying a home you may not otherwise be able to afford,’ says Louise Davis, Senior Associate & Head of Residential Property in Malton. ‘On a day-to-day basis, apart from the rent element, you may notice few differences from conventional ownership. However, this is likely to change when you come to sell. With shared ownership, there are certain procedures you must follow, and these can be complicated.’ Louise answers some common questions…

ACAS, mental health and reasonable adjustments: what employers need to know

Employers are increasingly aware of the importance of supporting employees’ mental health for many reasons, including improved retention, attendance and productivity. Underpinning this is a legal duty to make reasonable adjustments where the individual’s mental health condition is a disability under the Equality Act 2010. Mental health problems need to be taken as seriously as any physical conditions. Employers may be expected to make adjustments even when the individual does not consider themselves to be disabled. Understandably, managers may have concerns about privacy or not being equipped for dealing with mental health issues in the workplace. Last year, Acas published their guidance on reasonable adjustments for mental health, which provides practical advice on the topic. In this article we highlight the employers’ legal responsibilities, give examples of reasonable adjustments for mental health, and offer a few…