24 September 2009
Will making 'important for farmers'
The importance of drawing up a will has been emphasised to farmers.
Commenting on the issue, Michelle Gildernew MP said it is vital that people working in the industry make legal arrangements to protect the future viability of their businesses after their deaths.
She expressed concern over possible difficulties concerning probate that can arise in the absence of such legal documents.
Ms Gildernew stated: "I appreciate that the transfer of the farm business can be a sensitive issue and it is therefore natural to delay making decisions."
However, failure to make wills can result in long delays to the release of financial entitlements, the politician added.
Seeking advice from a legal expert can make the transition of property rights less difficult in the "sad days" following a family death, she concluded.
Earlier this month, Phil Perry, director of independent financial advisory firm Ark Financial Planning, described the writing of a will as a "very simple process".