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Everyday your land provides benefits such as scenery, privacy, recreational opportunities, wildlife habitat and a good place to live and raise a family. Your land is also a legacy to the future. What is the future of your land? Who will own it and how will it be used?
 Land is often a family’s most valuable asset. It has likely increased in value since you first took ownership, substantially if you have owned it for a long time. This increase in value provides some complications for passing your land on to the next generation as this dramatic increase in value could result in substantial estate tax liability. The estate taxes may make it difficult for heirs to maintain the land in its entirety and instead may force its sale. Should a landowner decide instead to sell the property, the dramatic value increase could result in significant capital gains tax liability.
In addition to its economic value, owning land often fosters a strong connection to the land. This connection can motivate landowners to protect the natural and scenic qualities of their land.
Know all of your options
Many landowners know they have an option to sell their land or develop it. However, not many landowners know their full suite of conservation options. There are estate planning and land conservation options available to landowners that can lessen your tax burden and permit you to pass on the land to family members who are not forced to sell all or part of the property to cover estate taxes. These conservation options also protect the natural and scenic features of your land. The key to making a good decision about the future of your land is to know all of your options so that you can realize your financial, personal and land stewardship goals.
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