Over 200 people attended a clinic focused on family farm transfer and succession planning in Co. Limerick earlier this week.
The event, which was held in Adare, is among the annual series of Transferring the Family Farm Clinics held by Teagasc at various locations across the country.
The sessions are designed to help farm families through the process of and all aspects that need to be considered when transferring the family farm.
Farm transfer
This week also saw clinics take place in counties Cork and Wexford with the remaining three sessions due to take place in the following location next week:
- Tuesday, October 8: Inishowen Gateway Hotel, Railway Rd, Ballymacarry Lower, Co. Donegal;
- Wednesday, October 9: Knockranny House Hotel, Knockranny, Westport, Co. Mayo;
- Thursday, October 10: Abbeyleix Manor Hotel, Cork Road, Abbeyleix, Co. Laois.
Teagasc is encouraging farming families to participate in these free events where they will get the opportunity to talk to experts on a one to one basis.
A team of local solicitors, accountants, and Teagasc advisors will be present at each clinic to answer queries on a one-to-one basis in confidence.
Mediators will be present at the events, a profession often used by farming families to develop a succession plan in difficult circumstances.
The government will be represented by Citizens Information services, who provide information on topics like pensions, fair deal scheme, and State entitlements.
For those interested in forming Department of Agriculture Food and the Marine (DAFM) registered farm partnerships, DAFM staff will be in attendance to offer advice.
Clinics
Speaking about the Transferring the Family Farm Clinics, Fintan Phelan, head of Teagasc Farm Management Department said; “These events will help you carefully plan your succession, by putting you in contact with the key experts so that you can have a good family meeting and achieve a successful outcome.”
James McDonnell Teagasc farm management specialist added that: “Spending time gathering information at events like this allow farming families to benefit from all the tax and Common Agricultural Policy (CAP) incentives and in many cases results in a significant tax reduction and improved cash flow for the new successor”.
Anyone interested in attending the clinics next week is being asked to register on the Teagasc website or by contacting their local Teagasc office.