Teagasc to run free farm succession clinics
A series of free ‘clinics’ on transferring the family farm will be run by Teagasc in the coming months.
Eleven clinics in total will be held, where farm families will have the opportunity to meet individually with solicitors, accountants and Teagasc succession experts all in the same venue.
According to James McDonnell, Farm Financial Specialist with Teagasc Oakpark, the main issue for many families looking at their family farm succession options is that they need to meet with more than one professional.
“When families start to look at succession they might go to their solicitor who may recommend that they need to talk to their accountant, or Teagasc advisor. So it means they will have to make an appointment with the accountant or Teagasc advisor and after that they probably will have to go back to the solicitor which can make it a long, drawn out process.”
The Teagasc clinics will have four solicitors, four accountants and a number of Teagasc advisors and education offers, with 16-18 booths where people can sit down and discuss their situation with one of the professionals. Then if they need to talk to someone else, that person is in the room and they can talk to them, James explained.
“Myself or Kevin Connolly will start each clinic with a presentation on the different aspects of transferring the farm, including looking at the legal, tax and different angles, as well as pensions and mediation and making a will.”
This, he said, will help raise possible questions for people to consider and they can then talk to the different experts on a one-on-one basis.
Teagasc hosted a pilot of the clinic earlier this year and Wexford and catered for 350 farm families on the day. Teagasc is advising anyone interested to book into the clinics, which will take place at 10.30am and 2pm. Booking can be done through your local Teagasc office. The clinics will take place in: Cavan; Kerry; Meath; Clare; Waterford; Cork; Tipperary; Mayo; Donegal and Roscommon.