Farm succession: ‘The best thing I ever did for me and my family’
Tommy and Adam Cooke, pictured on the farm in Barna, Co Kilkenny. Picture: Dylan Vaughan
It may not be an easy subject to discuss openly but the simple truth is that when succession planning starts on time, solutions can be found and concerns about farm viability, tax, lack of a willing successor, worries about income for the older generation, and the potential impact of marital breakdown can all be aired and discussed in a way that invites solutions.
The key, say the experts, is to seek advice early so that a plan suited to the individual farm’s needs can be established and for farmers to make a will that reflects the vision set out in the succession plan.
