Farm succession planning on Co. Meath dairy farm

At the Ballyhaise Dairy Open Day, attendees heard from David and Laura Hannon on how farm succession planning has worked on their farm.

David told the crowd that he started farming with a focus on survival and paying off his siblings.

It was only later on that his focus moved to growing a business; he could have stayed at a smaller herd size, but he pushed on.

The idea behind this was to ensure that the farm would provide David with an income when he retired.

David also told the crowd that he had tried to develop the farm to a point where it would sustainable and could provide two incomes, which would give him different options.

These options were:

To employ a farm manager;
To go into a partnership with an outside person;
To have a family member coming home to farm.

He said that building the farm to its current level made all these options viable.

Farm succession

When asked about his family’s succession plans, David said: “The most important thing is that they [his children] all got educated.

“They have an ability to earn an income in an area that they like and if they have a roof over their head, we have achieved everything we want.”

Laura had studied nursing and worked in Dublin, but has since switched the operating theatre for the milking parlour.

“I always had an interest in farming; when I did the leaving certificate I wasn’t sure what I wanted to do,” she said.

“But dad said the farm will be here and [to] do what you want to do first.”

David now undertakes more of a farm manager role, while Laura, with the farm staff, looks after the day-to-day running of the farm.

Communication

Both David and Laura highlighted the importance of communication on the farm.

David said that in his case, his father very much said how it had to be done, but he feels it is important that Laura has an input.

“I’m still learning – you’re never finished learning when it comes to farming – but it’s important that I pass on my knowledge to Laura,” David said.

“Making mistakes is important, because that is how you learn, I have made enough of them in my career.”

David said that when the time comes, a family discussion will be had over the future of the farm.

“It’s important that everyone knows what is going on and has their input,” he said.

“Farm succession will never be fair in the sense you are getting a big asset – but you have to try and make it as fair as possible.”

David said that he has had one-on-one conversations with his children about the future of the farm, but that a full family discussion will be held closer to the time (of him stepping back).

He added that they are getting closer to having that conversation.