IFA ‘Succession and Inheritance’ meeting in Roscommon on May 4th

The IFA has announced a Roscommon venue for one of its upcoming Regional Farm Succession and Inheritance meetings which are due to kick off in the coming weeks.

The Abbey Hotel in Roscommon town will play host to one such meeting on Thursday, May 4th from 8 pm.

Announcing the series of events, IFA National Farm Family and Social Affairs Chair Alice Doyle said it is important farmers start thinking about a succession plan 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,” she said.

“By proactively planning, for succession and inheritance, you can avoid potential stress, relating to and the uncertainty around, the future of the farm”.

Guest speakers on the night will include Clare O’Keeffe, Succession Ireland; Gordan Peppard, Teagasc; Martin Clarke, Ifac; and Agri Solicitor Aisling Meehan.

IFA’s National Farm Business Chair 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, however, there could be a major impact on the viability of the farm businesss,” she said.

The meetings are expected to explore the emotions involved in succession and inheritance; inform participants of the options available; highlight main areas where professional advice may be needed; and encourage early action on a succession and inheritance plan.