Farmers: How can I pass my farm on to the next generation?

Today in this video about farm succession planning:
1. Succession Planning Essentials: The video emphasizes the importance of succession planning in farming, involving discussions with your spouse or partner about future plans and ensuring that the transition secures your financial and residential needs.
2. Methods of Transfer: There are two main ways to transfer a farm: signing it over during your lifetime or through a will after death. The video focuses on the benefits and process of transferring the farm while still alive.
3. Legal and Financial Considerations: It's crucial to employ a good solicitor and accountant to navigate tax implications and legal requirements, ensuring the successor qualifies for agricultural tax relief.
4. Family Dynamics and Planning: The video highlights the need to consider all family members and their potential claims or needs, balancing the farm's value with the practicalities of running it profitably.
5. Advice and Experience Sharing: I suggest seeking advice from experienced farmers and professionals, noting that transitioning a farm can be more complex than accumulating it, but it's essential for ensuring the farm's future viability.
#farmertofarmer #farmersadvice

[@fieldagentryan]

Best advice rstablish a family company pension trust..

[@Andy-ix2ox]

Thanks for doing these videos Eamon , I would like to have a chat with you about this topic if possible, we actually have meet through LMP many years ago. If this suits you maybe you could reply on this platform and I will get in touch with you privately. Thanks Andy. Ps don’t worry if you would rather not, that’s fine too.

[@ashlawnretirement]

Hello Andy! Thanks for watching my videos! I would love to chat with you. You can reach out to me on whatsapp or 86 444 9078

[@user-od9fc2fp6r]

Eamon fantastic video, You know what your talking about. Thanks for sharing.

[@ashlawnretirement]

@@user-od9fc2fp6r Thank you! I appreciate the comment. I'm posting new video today, hope you'll like it!

[@fieldagentryan]

Every farm in Ireland has a red seal guarantee of juxeo chriztan law of the good shepherd..

[@fieldagentryan]

Iyd easy just full in the herd number transfer document and don't listen to advisers saying that a new herd number has to be gotten .. its kk gs law of the harp

[@fieldagentryan]

First thing .... make sure you have no advice from.teagadc nor intreo ...