Open Access BASE2020

Risky (farm) business: Perceptions of economic risk in farm succession and inheritance

Leonard, Brian; Farrell, Maura; Mahon, Marie; Kinsella, Anne; O'Donoghue, Cathal

Order using Access(Open Access)

Abstract

peer-reviewed ; Highlights • Generational renewal is high on the political agenda for agriculture, with young farmers linked to positive outcomes. • There are limited policy incentives for older farmers to consider engaging in the farm succession and inheritance process. • Farmers perceive risks and uncertainties regarding the transfer process, and thus avoid handing over to their successors. • Taxation, retirement income, long term care cost, and marital breakdown are motivations for farmers to retain ownership. • Financial incentives related to generational renewal must aim to alleviate the level of risk perceived by farmers. ; Royal Dublin Society

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