Dad passed away mid farm transfer
I was hoping to get some advise on the below matter.
In May this year, I started the transfer between my father and I. We got the valuation, deeds, paid stamp duty etc. I was advised by my accountant to hold off getting a herd number until January 2021 as it would be cleaner to do the transfer at the start of the tax year. The farm account is in my mothers name, fathers name, and my name.
Unfortunately, my father passed away last week and my payments are due from next week until December 2020.
My questions are:
- Should i tell the accountant ASAP?
- Should i tell the solicitor ASAP?
- Will my payments be stopped?
- Will the farm bank account get frozen?
- How long does it take to get a herd number?
- Am I allowed to sell animals now?
I really need my farm payment to come through,otherwise id have to get another personal loan to keep the farm ticking over and 'gift' the money to my mum.
Any help/advise is very much appreciated.
At the moment, i feel i should hold off telling the accountant and solicitor as they might be bound to report it to the Department.
Thanks in advance,
Farmers' wife in training (on behalf of partner)