Farming Legal Advice: Inheritance tax changes for farmers in care explained

Farmers who are currently in nursing homes before the new law came into effect can still apply to cap the farm to three years and need to make the application before April 20, 2022, and should do so as soon as possible. File photo: iStock

Dear Karen, 

My father wants to transfer the farm to me. I am farming at home with my father since I left college. His health is ailing and we as a family are concerned that he may have to be cared for in a nursing home in the foreseeable future and obviously are concerned about the cost. I have heard that there have been some changes to the Fair Deals Scheme but am not sure if we as a family qualify to avail of the positive changes. Can you explain whether they would be applicable to our circumstances and what would we need to do?