Teagasc invite all farm families to their hugely popular series of ‘Transferring the Family Farm’ events designed to enlighten and educate you on the many details involved in creating an effective plan for succession.
Transferring the family farm is so much more than just a simple business transaction; there are a number of complex issues to be addressed and to help farm families through this process, Teagasc has organised a series of “Transferring the Family Farm Events” which will take place around the country. The series of 7 events commences in Dunmanway in County Cork on Monday, 23 September, with the final event on 3 October in Letterkenny, County Donegal.
Teagasc Financial Management Specialist, James McDonnell urged farmers to plan their Succession;
“Traditionally in Ireland family farms have been passed onto the next generation on death. In recent times social and economic changes have resulted in more transfers taking place during the owner’s lifetime. It is a very personal decision and every family has a different set of circumstances. It is always better to have a plan in place, and by not having one it can be even more difficult if the transfer is unplanned through illness or the death of the owner.”
At each of the 7 clinics, there will be a short address, covering all aspects that need to be considered when writing a succession plan. The clinic will then be open to the farm families present to go and have “one to one” private conversations with the professionals set up in booths around the venue.
Professionals in attendance will include:
• Accountants/Tax advisers
• Succession mediators
• Social welfare advisers
• Citizens information
• Teagasc Education officers / Collaborative farming / financial specialists
For more details visits www.teagasc.ie/farmtransfer