Succession Planning:An Experienced Attorney With Knowledge Of Agricultural Scenarios Can Help The Transition Process Go Smoothly

摘要

Succession means many things and may include transitioning ownership of property after the own-er's death or during the farmer's lifetime, should the owner decide to quit farming," says John Shanklin, of the McCleskey Law Firm in Lubbock, Texas, which is surrounded by the massive West Texas cotton patch.And a succession plan may not always involve family, he says.There are numerous succession options. Two common ones are making sure children have equal shares and wanting the operation to remain in farming in perpetuity. The following scenario outlines these and other options.