As part of Generational Renewal Week 2025, we take a look at how the O’Connor's from Co. Roscommon have planned for successful succession.
Shane O’Connor is preparing to take over his family’s suckler beef farm in Cloonfad, Willsbrook, Co. Roscommon, which has been in the O’Connor family for generations. His father, Gerard O’Connor, received the farm as a lifetime gift from his father, and now plans to pass it on to his son Shane.
Although Shane pursued an academic and professional career in planning and construction, with degrees from Galway, Edinburgh, and Dublin, he maintained a strong connection to the farm. In 2012, he completed the Green Cert at the local Teagasc office in Roscommon.
At the time, Ireland was in a deep recession, and Shane began making plans to develop the farm to generate more income and return to farming, at least part-time. Initial discussions began regarding the farm transfer from Gerard to Shane, but as the economy improved and construction work became more available, those plans were put on hold.
In 2015, Shane and Gerard established a joint herd number, enabling Shane to qualify for the Young Farmers Scheme under CAP. This joint venture allowed Shane to stay involved without taking full ownership while still benefiting from supports. They could have considered a formal farm partnership at this stage, which may have brought additional tax benefits and funding.
Initially, their system included about 30 suckler cows, with weanlings sold off. Over time, Shane adjusted the system to suit his off-farm job, reducing cow numbers and moving towards selling progeny as forward stores. This system is working well for Shane and allows him to maintain a closed herd.
The next step in the succession journey
Plans are now well advanced to transfer the farm from Gerard to Shane. It is expected that Shane will transfer the herd number into his sole name and that the 2026 BISS application will be submitted under his name rather than through the current joint venture. When assessing the tax implications of this lifetime transfer, several issues must be addressed. As it is a gift rather than an inheritance, both Gerard and Shane must consider taxes and potential reliefs.
Careful planning is essential to ensure a successful and tax-efficient transfer of farm assets. Professional legal and financial advice should be sought, and the Succession Planning Advice Grant (SPAG) can help finance this support. Shane looks forward to continuing the O’Connor family farming tradition for many years to come.
What is Generational Renewal Week?
Over the course of Generational Renewal Week, Teagasc will host a hybrid programme of events, including three webinars and two farm walks held across the country. Whether you are just starting to consider succession planning or are ready to take the next step, generational renewal week has something for everyone.
Find the full list of events for Generational Renewal Week here.
More from Teagasc Daily: Generational renewal – why it matters
More from Teagasc Daily: Collaborative farming – find the model that works for you
More from Teagasc Daily: Generational renewal – 5 steps to star the conversation