Over one-third of ICMSA members do not have a will, a recent survey of over 550 of the association’s farmer base found.

The survey found that close to 36% of farmers did not have a will, 42% of those surveyed had no successor, while 32% had not gotten a private pension plan. Reacting to the survey’s findings, ICMSA president Denis Drennan said he would “strongly encourage farmers of all ages to immediately get appropriate advice, make a will and try to ensure a smooth transition [of the farm] to the next generation”.

“Succession can be complex in many situations but the absence of a will when a farmer passes can make it much more complex and difficult,” Drennan said.

“To try and minimise difficulties for the people you leave behind, all farmers should have a will setting out their wishes clearly and hopefully, ensure a smooth transition for the next generation,” he maintained.

Meanwhile, well-known agricultural solicitor Aisling Meehan said the absence of will among a high percentage of ICMSA members was “indicative of the industry”.

“Unfortunately, many farmers just don’t know what to do. They don’t know what to put in the will, particularly where they don’t have a successor,” Meehan pointed out.

The survey highlighted the need for having a discussion within the family regarding succession, she said.