ARLINGTON, VA – Thomas Edison is credited with saying, “I have not failed; I’ve just found 10,000 ways that won’t work.” That’s pithy, but when it comes to estate planning a different kind of adage comes to mind: “failure to plan is planning to fail.”
Experts say the number one mistake people make when it comes to estate planning is simply not planning at all. And it’s somewhat understandable – the topic can be unpleasant. The prospect of retirement can be daunting enough, but preparing for a more sudden and tragic turnover of an operation can be upsetting.
But that doesn’t mean you should add headaches to the heartaches your heirs and the next generation of leaders of your operation will be feeling when it comes time for them to take the reins. Proper planning can also save them a lot of money, and in some cases make the difference on whether or not a family operation can even continue to exist.
USA Rice is pleased to announce a session on this important topic has been added to the 2019 Outlook Conference where all your questions will be answered and attendees will come away with an understanding of why planning is important and what things everyone should consider as they look ahead.
The session will be led by Trav Baxter, an attorney with the Little Rock corporate law firm of Mitchell, Williams, Selig, Gates & Woodyard. Baxter specializes in business tax planning, trusts and estates, and agriculture law, and is a fellow in The American College of Trust and Estate Counsel. He has also been recognized by The Best Lawyers in America © in trusts and estates and Chambers USA in corporate/commercial tax in Arkansas.
“The lack of estate and succession planning is one of the main reasons family farming operations fail to pass from one generation to the next,” said Baxter. “While it is easy to tell someone that they need a succession plan, without the right approach and perspective the task can be daunting and result in discouragement and inaction. One of the main things I like about my job is that I get the opportunity to guide people through the estate and succession planning process to help them achieve their vision and goals. I look forward to discussing this important but often neglected topic with attendees at the 2019 Outlook Conference.”
The USA Rice Outlook Conference is the largest rice specific event in North America. The 2019 Conference will take place from December 8-10 at the Statehouse Convention Center in Little Rock, Arkansas. Check
here for updates.