The reality of succession: planning for the farm's future

Exit strategy essentials: Mastering the art of succession

By transferring skills, roles and ownership along the way, business owners can create a business that’s robust, sustainable and valuable. But, where to start?

The ultimate exit, however – one which sees them sell or hand over to the next generation – isn’t easy. Between the daily grind of farm work and the emotions tied to the land, it’s no surprise it gets pushed down the list. But, ignoring

it doesn’t make it go away. In fact, it makes it worse; family rows, financial headaches, and uncertainty about the farm’s future are all risks when there’s no plan. The good news? More families are starting to tackle this, and it’s making a difference.

The story first appeared in our 2025 Irish Farm Report.

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Marty Murphy, Head of Tax

How does succession affect the modern farmer?

The message is clear: some families are getting ahead of the game, but for many, succession planning is still a big unknown.

So, what’s stopping people from being prepared?

For most farming families, succession is not a single event but a journey – one that can span years, emotions, legalities, financial concerns and social dimensions, each of which can complicate or delay the succession process. It’s important, when succession planning, to remember that every family is different. That said, the same issues come up time and again:

The realities of supporting two families:
For 1 in 5 farmers, the answer is no. The farm just doesn’t generate enough income to support two generations at the same time. While this is better than two years ago, it’s still a major roadblock. In the following pages, Martin Glennon highlights the importance of having a pension in dealing with this issue. The average Irish farm is 34 hectares, and the average dairy farm has about 93 cows. That might support one family, but stretching it to cover two—or even three—generations is undeniably tough.

Farm work not appealing to the next generation
Farming is hard work. Long hours, physical labour, and an unpredictable income. As a result, it’s not surprising that 1 in 4 farmers say their children aren’t interested in taking over. That figure is a sharp increase from the previous year, and growing: today, it’s the number one challenge for succession planning, an unprecedented act since we started the Irish Farm Report, seven years ago. Adding to that is the comment that 1 in 8 farmers have: insisting that the next generation has no interest in the business at all, or the lifestyle that comes with it.

It's difficult to talk about
No one wants to open a can of worms at the kitchen table, but avoiding the conversation won’t make things easier. About 1 in 14 farmers say succession is too sensitive a topic to bring up. That number has improved slightly, but it still shows how difficult these discussions can be.

I just don't know where to start
About 1 in 12 farmers admit they don’t know how to plan for succession. This highlights the need for clear, practical advice to guide families through the process.

The children are too young
Over 1 in 5 families say they can’t decide yet because their children are too young. While this makes sense for some, it shows the importance of starting early so there’s a plan in place when the time comes.

Key succession insights from our 2025 Irish Farm Report

1 in 3 farmers have a successor chosen

1 in 5 farmers don't have a successor at all

1 in 5 families say it's too early as the children are still young

Just 1 in 25 farms have picked a non-farming successor

However it's not all bad news. There are some positive trends worth noting.

• More farms are picking successors - Nearly 1 in 3 farms now have a farming successor, a small but encouraging step forward.

• Fewer farmers see finances as a roadblock - The number citing financial viability as a challenge has dropped from 1 in 4 to 1 in 5 over the last two years.

• More families are tackling tough conversations - The number avoiding the topic is falling, showing that awareness and action are improving.

• Half of farmers in partnerships have a clearly defined successor - Which clearly shows this a model that helps succession.

For those unsure where to begin, here are a few simple steps:

Everyone wants to avoid a row, but it’s better to talk things out than leave them hanging. Do your research, sit down with your family and have an honest conversation – Is the next generation interested in farming? What do they want, and what do you want? These conversations might take time, so don’t rush them – but putting them off helps nobody.

Why you shouldn’t wait

Sorting out succession takes time, so the sooner you start, the better. Getting ahead of it gives you time to:

Work through family discussions without pressure.
Make the most of tax reliefs and avoid unnecessary costs.
Prepare the next generation to take over when the time comes.

Talking about succession might be awkward, but it’s one of the most important things you’ll do for your farm. Without a plan, you’re leaving the future of the farm – and all your hard work – up in the air.