Leaving a Legacy

Easements can protect your land from future development and often have financial benefits, but they aren’t for everyone. Learn more about them before starting down the road of getting one.

Before getting an easement, it’s a good idea to talk to other landowners who have them and learn from their experiences. If you don’t know someone locally with an easement, the links in this Activity will let you hear firsthand from easement landowners

Most easements are held by local non-profit groups called land trusts. The first step in getting an easement is to meet with your local land trust to see if you and they will be good fits for each other.

Conservation easements stay with the property even after you no longer own it, so involve your family, especially potential heirs, in your choice of whether or not to ease your land.

As with buying or selling a house, you’ll need to know the value of your land to determine the value of your easement and any potential charitable deductions.

Easement contract language can be confusing. Get a second opinion on your potential easement agreement by showing it to an attorney or estate planner familiar with land laws.

Conservation easements have tax implications, such as possible charitable deductions, income tax credits, and reduced property and estate taxes. Review your potential easement with a tax accountant to ensure you get the best tax treatment and that you’re prepared in case of an audit.

When you’re satisfied with all the easement’s terms and ready to sign, close on your easement to have it go into effect.

Having a family conversation about the future of your land can be difficult and emotional, but it will help everyone be on the same page about what you desire.

There's no substitute for in-person gatherings on the family land. Getting your family outside and walking together lets each person reflect on what your land means to them.

Is your land a priceless heirloom, something valuable only as a financial asset, or somewhere in between? This family activity will help you learn how different members see the family land.

Estate planning is for every landowner. Deciding what happens to your land after you're gone is the most important step you can take as a landowner.

In a perfect world, what would you want to see happen with your land when you're no longer around to take care of it? Write these wishes down, then share them with a spouse or the rest of your family.

Estate planning is complex and emotional. But you can do it! These landowner stories—many in their own words—can provide ideas and inspiration for your own journey.

An estate planning attorney is critical to an effective legacy plan. These specialized lawyers can help you with legal documents such as wills, trusts, and LLCs.

Information about your land's value is crucial for appraisals and other planning tasks. A forester can help you determine what natural resources you have and how much they're worth.

Having a firm grasp of your finances is important to reducing end-of-life expenses and taxes. A CPA can help you consider different strategies to make your legacy plan happen.

There is no "one size fits all" estate plan. From wills to trusts to conservation easements, a variety of tools exist to give you and your heirs flexibility in meeting your goals.