AgDay

Two file cabinets, one red, the other yellow, stand along an open wall in J. R. Simplot’s office in Fresno, Calif. They are a silent testament to Paul Simpson’s ever-vigilant attention to details, both large and small, that play a role in the company’s emergency action plans. Simpson, the company’s director of retailer operations in California, chose the colors to give employees a visual reminder or clue to the cabinets’ contents. The red file cabinet holds a variety of safety data sheets. The yellow one holds documents on Simplot environmental, health, safety and security policies and procedures. Everything is clearly marked and filed alphabetically. “If a regulator walks through the door and wants to review a document we’re supposed to have on file, our employees know exactly where to locate it,” Simpson says. As a result, employees don’t have to resort to searching stacks of folders, fumbling through drawers or skimming papers posted on the wall. That’s not all. Simpson has a comprehensive plan in place to address a variety of challenges, and employees receive regular training on how to respond to each one.

Everybody likes some control of their assets once they die. How much control you’d like to have can help determine if a trust is right for you.

It’s crucial to have a lawyer on your succession planning team who understands the intricacies of your business.

The amount of time required to draft a solid succession plan is different for every family.

Estate planning is not something that can be procrastinated.