­A series of regional farm succession and inheritance meetings taking place this month and in May have been announced by the Irish Farmers’ Association (IFA).

Starting to think about a succession plan for the family farm as early as possible is very important, farm family and social affairs chair of the IFA, Alice Doyle said.

The events aim to help farm families familiarise themselves with some of the complex issues that can arise while developing a farm succession plan, IFA national farm business chair, Rose Mary McDonagh said.

The regional farm succession and inheritance meetings organised by the IFA will take place on:

  • Tuesday, April 18 – Woodford Dolmen Hotel, Co. Carlow, R93 N207, 8:00p.m;
  • Thursday, April 20 – Firgrove Hotel, Co. Cork, P67 Y206, 8:00p.m;
  • Wednesday, May 3 – Ardboyne Hotel, Co. Meath, C15 C9YA, 8:00p.m;
  • Thursday, May 4 – Abbey Hotel, Co. Roscommon, F42 F992, 8:00p.m.

Guest speakers will include Clare O’Keeffe of Succession Ireland; farm business structures specialist at Teagasc, Gordan Peppard; Martin Clarke of Ifac; and agri solicitor Aisling Meehan.

“Setting out a succession plan can be a long and emotive process, and it is important to start to plan as early as possible.

“By proactively planning for succession and inheritance you can avoid potential stress relating to, and the uncertainty around, the future of the farm,” Doyle said.

Farm succession

“It is essential for every farmer to have a farm succession plan in place. There are complex legal and taxation rules that, if planned for, can be managed easily.

“If not planned for, however, there could be a major impact on the viability of the farm business,” McDonagh warned. The series of events will:

  • Explore the emotions involved in succession and inheritance;
  • Inform about the options available to help transfer the management and ownership of the farm;
  • Identify the main issues and facts on succession and inheritance;
  • Highlight some of the main areas that farmers may need to get professional advice and guidance on;
  • Encourage farmers to begin putting a plan in place on succession and inheritance.
IFA SUCCESSION YOUNG FARMERS