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VIDEO: No ‘magic formula’ to guarantee successful transfer of farm from one generation to the next

In this video Sean McMahon, Teagasc Walsh Scholar, Longford outlines the important steps involved in transferring the family farm.

He said that while land in Ireland continuously passes from one generation to the next, this transfer of ownership does not always go smoothly.

“While there is no magic formula to guarantee the successful transfer from one generation to the next, major pitfalls can be avoided by planning ahead and putting a succession plan in place,” Mahon explained.

Main image and video source: Teagasc / YouTube

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