Longford farmers invited to regional farm succession and inheritance meetings

Announcing IFA’s upcoming regional farm succession and inheritance meetings, IFA national farm family and social affairs chairperson, Alice Doyle said is it very important to start thinking about a succession plan for your family farm as early as possible.

“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,” Ms Doyle said.

Local IFA have organised a number of regional meetings. Locally, a meeting will be held on Thursday, May 4 at the Abbey Hotel, Co Roscommon (F42 F992) at 8pm.

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

“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, there could be a major impact on the viability of the farm business,” she said.