The farm transfer dilemma: Through your will or while you are still alive

Discussing your intentions allows others to give feedback which you can take on board in arriving at your decision

Deciding on farm transfer options, and deciphering the personal and financial implications of each, including tax pitfalls for the unwary, can be like a game of snakes of ladders. It is particularly important that farmers do early tax planning well before a proposed transfer.

Transferring the farm to the next generation is a once-in-a-lifetime, monumental decision.

When is the right time?