Trav Baxter focuses his practice on business tax planning, trust and estates, and agriculture law. He provides counsel to individuals and business entities in the areas of estate planning, tax advice, administration of trusts and estates, formation and operation of business entities and succession planning. With a family background in agriculture, Trav assists agriculture clients in various matters including property management, formation and operation of agriculture business entities, tax advice, trusts, and multi-generational estate planning. He is a fellow in The American College of Trust and Estate Counsel and is recognized by The Best Lawyers in America© in trusts and estates and Chambers USA in corporate/commercial tax in Arkansas.
- Experience in drafting and providing advice concerning (i) bypass and marital deduction trusts, and disclaimer trusts, to ensure use of both spouses estate tax exemptions and for income tax basis planning, (ii) dynasty trusts for tax and non-tax purposes, (iii) family limited partnerships, and (iv) sales to intentionally defective grantor trusts.
- Assists clients with the formation of business entities, including limited liability companies and corporations, and the preparation of buy-sell agreements associated therewith.
- Has represented clients requesting letter rulings from the Internal Revenue Service, including (i) a request for relief from an inadvertent termination of an S corporation election due to the failure of the certain trusts to make required ESBT elections, (ii) a request that a 501(c)(3) organization classified as a private operating foundation qualifies as an “exempt operating foundation,” as that term is defined by § 4940(d)(2) of the Internal Revenue Code, and (iii) a request that certain actions pursuant to a trust agreement will not constitute the exercise or release of a general power of appointment.
- Regularly counsels clients on identifying succession planning objectives and tools to implement those objectives, including (i) continuity of the business operation, (ii) incorporating the next generation into management and ownership at the appropriate time so that they have the knowledge and experience to run the operation and build connections with employees, vendors and others in the industry, (iii) providing financial security for surviving spouses, (iv) assuring equitable treatment of active and inactive heirs, and the establishment of certainty of rights upon the death of parents, (v) minimizing estate taxes and probate expenses, (vi) continuance of charitable giving.
- Experience in providing trust and business planning advice for clients engaged in the agriculture industry, including advice regarding compliance with federal farm program payment rules and regulations.
- Regularly works with individuals and corporate fiduciaries regarding trust and estate administration.
- Regularly speaks on estate, business and tax planning matters.
- Mid-South Super Lawyers: Tax, (2019-2020)
- Chambers USA: Ranked in Corporate/Commercial: Tax in Arkansas (2018-2020)
- Chambers USA: Ranked as "Up and Coming" in Corporate/Commercial Tax in Arkansas (2017)
- The Best Lawyers in America©: Trusts and Estates (2018-2021)
- Mid-South Super Lawyers Rising Star: (2012,2016)
- Fellow, The American College of Trust and Estate Counsel
- American Agricultural Law Association (2008 – Present)
- Pulaski County Bar Association
- American Bar Association
- Arkansas Bar Association
- Former Chair, Agricultural Law Section (2013)
- Former Co-Chair, Arkansas Bar Association Mid-Year Bar Meeting Probate Tract (2012)
- Former Committee Member, Legislation Committee for Probate Section (2010 – 2012)
- Board of Directors, Arkansas State Police Foundation
- Board of Directors, Arkansas Children's Hospital
News & Articles
- Authored Succession Planning for Family Farms, The Arkansas Lawyer, Fall 2015.
- Authored The Impact of Tax Reform on Estate Planning, The Arkansas Lawyer, Spring 2018.