Farmers are notorious for avoiding inheritance planning – half of them don’t even have a will – but it is vital, and it’s not as hard as you might fear
‘Not having a will is irresponsible and causes untold headaches for the next generation’ Image: Getty
Farm succession is one of the key concerns facing farmers. In a survey of 1,048 Irish farmers conducted by IFAC in January, 94pc said there are significant challenges with succession and inheritance planning, and that it was the main issue of concern for farmers, alongside input costs and the weather.
A recent farm management stakeholders meeting in Portlaoise, Teagasc pledged that supporting farmers through the process is one of their top priorities.
