Teagasc has launched its highly successful series of annual ‘Transferring the Family Farm Clinics’ which will commence on the 3rd October. There will be 6 events across the country and are open for all farm families and landowners to attend.
Farm succession events often attract large crowds and Teagasc expect this year’s events to be no different. The age profile of farmers continues to increase, even though there are government tax incentives and EU CAP incentives. Farming families are being encouraged to participate in these free events where they will get the opportunity to talk to experts on a one to one basis.
Supporting each event will be a team of local solicitors, accountants, and Teagasc advisors to answer your one to one queries in confidence. Also present at these events will be a Mediator, 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 a one stop shop of information on topics like pensions, fair deal scheme, and your state entitlements. For those interested in forming Department of Agriculture, Food and the Marine (DAFM) registered farm partnerships, staff from DAFM will be in attendance.
In launching the series of events in Oak Park, Teagasc Director Professor Frank O’ Mara said, “I would urge all those that are thinking about farm succession, to attend one of these Teagasc Transferring the Family Farm Clinics. Farming families who have attended these events in the past have said that they found out more information in 10 minutes than days on the phone at home. 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.”
Farm Financial Specialist in Teagasc, James McDonnell said, “putting a Succession Plan in place takes time, and by hosting these events Teagasc are helping farmers to gather information more efficiently to make the best decision for their own individual circumstances. Early transfer allows farming families to benefit from the all the tax and CAP incentives, and in many cases results in a significant tax reduction and improved cash flow for the new successor.”
The six events in 2023 take place in counties Kerry, Cork, Kilkenny, Leitrim, Galway and Cavan. To register for one of the events visit www.teagasc.ie/farmtransfer