Succession & Inheritance
Transferring the family farm is so much more than just a simple business transaction; there are a number of complex issues to be addressed including:
- The family home is normally inseparable from the business.
- A number of family members/ siblings/ children to be catered for fairly
- If the transfer is during the owner’s lifetime, the owner will require an income, as well as possibly the recipient depending on the circumstances.
- Creating an arrangement that can provide a solution for the different opinions of the family members involved the discussion
The Farm Succession and Transfer Guide is available from the local Teagasc office