Legacy Planning for Forest Landowners
Forests and farmland are valued for multiple reasons such as wildlife, privacy, recreation, timber, hunting, or scenic qualities. Are you prepared to pass the environmental and heirloom values rooted in your forest to the next generation? The cost of not planning and future tax burdens may put your land’s ownership in jeopardy. If you don’t plan, the government will plan for you. By researching and planning ahead of time, you can ensure your wishes are met and minimize the financial costs and emotional challenges while securing your woodland legacy.
- Family Wealth - James E. Hughes Jr.
- Landowners Guide to Conservation Easements - Steven Bick and Harry Haney
- Preserving Family Lands: Books 1, 2 and 3 - Stephen J. Small
- Legal Aspects of Owning and Managing Woodlands -Thom J. McEvoy
- Positive Impact Forestry - Thom J. McEvoy
- Planning Family Forests - How to Keep Woodlands Intact and in the Family
Presentations from 2018 Mini Generation NEXT workshops
Passing land from one generation the next with your woodland legacy intact takes work, planning and dedication. Legacy planning is the broader effort that not only encompasses the typical estate plan, but also articulates the family goals and ways to involve the next generation. Engaging the next generation in the care and enjoyment of your land helps ensure a smooth and successful transition to keep your land intact, in forest and in the family.
Generation NEXT attorney perspective
Making a decision about what will happen to your land in the future can seem overwhelming. Trusted professional advisors, including an estate planning attorney who specializes in family forestland ownerships are critical to the success of your Legacy planning efforts. Your attorney will be able to suggest legal tools to help you meet your legacy goals. Your forester and Certified Public Accountant (CPA) are other professionals to consider recruiting.
Generation NEXT CPA perspective
A Certified Public Accountant (CPA) with experience in family land, estate taxes and financial management are one of the professionals to recruit to your Legacy planning effort. CPAs can help you manage assets for sustained family forestland ownership or equitable distribution to heirs that maintain your forestland intact and in forest. Your forester and attorney are other professionals who provide valuable insights and services to help you pass your land on to the next generation.
Your Land Is Your Legacy
For Resource Professionals:
Webinar via Adobe Connect (requires Adobe Flash)
A Radio interview about transitioning land.
Radio Interview with SWVA and Jeff Ishee