Experienced farming law solicitors in Galway
We provide specialist legal advice for farmers including transfer of land, land use and leases and succession planning.
Among the most common reasons farmers will need the advice of a solicitor is for the transfer of the family farm. Our experienced solicitors can advise you on a variety of tax-efficient options for transferring your farm, such as simply transferring the land, or transferring the land and entering into a partnership to run the farm business, or creating a lease agreement that gives both parties the opportunity to test the arrangement before committing to transferring the land.
When transferring the family farm, it is important to consider any financial arrangements that need to be made to ensure you have enough income to support yourself and your loved ones into the future. From ensuring you have enough to cover your care needs as you age, to transferring farm entitlements and settling taxes, our experienced solicitors can provide you with practical advice that helps you achieve the best outcome for your family and your future. Talk to us about your personal situation for tailored farming law advice.
Land transfers
Farmers have a number of legal options when transferring the family farm, such as transferring the land entirely, transferring the land and entering a partnership to run the farm business, and creating a lease agreement to trial the arrangement before transferring the land.
Taxes on transfers
Three taxes generally apply to the transfer of a farm; Capital Gains Tax which applies to the parent who transfers the farm, Capital Acquisitions Tax which applies to the child who receives the farm, and Stamp Duty which also applies to the recipient of the farm.
Succession planning
It is important farmers have a legally valid succession plan to protect their assets, farm business and the future recipients of the farm. A succession plan ensures the process of handing over the farm from one generation to the next is as seamless and efficient as possible.