Estate Planning
In December 2010, Congress
passed a tax package that, for the most part, fixes the Estate Tax
issue for the next 2 years. The American Forest Foundation,
sponsor of the American Tree Farm System, will continue to press
for a permanent solution, like the Family Farm
Estate Tax Deferral Act (S. 3664/H.R. 5475), introduced by Senators Feinstein and Crapo, which
would exempt family forest owners and farmers from the estate tax if they keep
the land in their family and as forest or farm.
Ties to the Land
is a program that helps transition family forest land from one
generation to the next. On the web page, you can learn more about
the program and purchase the training book, but the best thing to do is
attend a workshop and receive hands-on training. Workshops may be
scheduled in Washington during 2011, so watch for announcements.
Your Land, Your Legacy
is a 40- booklet on estate planning prepared by Massachusetts
Woodlands. It has many similarities with Ties to the Land.
Succession vs. Estate Planning
By Clint Bentz. Tree Farmer Magazine, November-December 2009 In
Ties to the Land seminars, the difference between succession planning
and estate planning is discussed. Succession planning is preparing
your property and your family for a change in ownership and leadership.
Estate planning is the process of understanding and using legal tools
that are available to make sure your succession plan happens the way
you want it to happen. Estate Planning for Forest Landowners: What Will Become of Your Timberlands.
In January 2009 the USDA Forest Service published this 200 page book to
provide guidelines and assistance to non-industrial private forest
owners and the legal, tax, financial, insurance, and forestry
professionals who serve them on the application of estate planning
techniques to forest properties. The book presents a working knowledge
of the Federal estate and gift tax law as of September 30, 2008, with
particular focus on the unique characteristics of owning timber and
forest land.
Updated: April 18, 2011
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