In the heart of Arkansas, a crucial conversation is brewing, one that could shape the future of family farms across the state. The University of Arkansas System Division of Agriculture is hosting a second succession planning meeting on April 14, aiming to help farm families navigate the complexities of keeping their legacies alive. The event, priced at $25 per person and including dinner, is open to all interested Arkansans, not just farmers and ranchers. The registration deadline is April 7.
Sherri Sanders, the White County agriculture extension agent for the Division of Agriculture, has seen firsthand the emotional and practical challenges that come with succession planning. “It’s emotional, it’s hard,” she said, acknowledging the difficulty of discussing death or retirement from a family farm that has been passed down through generations. Many people believe they are prepared with a will, but Sanders stresses that a will is not a succession plan. A succession plan outlines who will inherit what and how the farm will be managed, providing a roadmap for the future.
The upcoming meeting builds on the success of the first session held on February 25. Sanders noted that the initial event sparked important conversations and helped shape the agenda for the second meeting. “This second session is still for farmers and ranchers, but the information can really apply to anybody who wants to plan for their estate,” she said. Estate taxes, power of attorney, and living wills are topics that affect everyone, not just farmers.
Rusty Rumley, a senior staff attorney for the National Agricultural Law Center in Fayetteville, Arkansas, will be the featured speaker at the meeting. Rumley will provide valuable insights into preparing for the initial meeting with an attorney, a step that many find daunting. Sanders emphasized the importance of being prepared, as attorneys typically charge by the hour. Rumley’s expertise will help attendees understand what to expect and how to make the most of their time with a legal professional.
The implications of this meeting extend beyond the individual families who attend. Successful succession planning can help preserve the agricultural heritage of Arkansas, ensuring that family farms continue to thrive for generations to come. By providing a forum for open discussion and expert guidance, the University of Arkansas System Division of Agriculture is playing a vital role in supporting the state’s farming community.
For those interested in attending, registration is open until April 7. The cost of $25 per person includes dinner, making it an accessible and valuable opportunity for anyone looking to plan for the future of their estate. Whether you are a farmer, rancher, or simply someone interested in estate planning, this meeting offers a chance to gain insights and prepare for the future.