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Ensure the continuity of your beloved woods in your family by asking critical questions, engaging in family activities, and considering conservation agreements for a lasting legacy.
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Your Legacy • You love your woods • You want to keep it in your family • Are you confident that will happen?
Build Your Families Connections to Your Woods • Tell a story • Take a hike • Have fun!
Build Your Families Connections to Your Woods • Get to work • Share it with your community • Just ask!
Questions to Ask • Is my property an asset or an heirloom?
Questions to Ask • Does my family share my love of the property and my desire to keep it?
Questions to Ask • Do I wish to divide my property among family members? • Give it to only one family member? • Or give it to the family as a whole to jointly own?
Questions to Ask • Have certain family members contributed more of their time and energy? • Are in-laws or stepchildren part of the family?
Questions to Ask • Who in the family will make decisions about the property?
Questions to Ask • How will my family manage and pay for my land? • Will they be able to cover taxes and other costs? • Do I know what those costs are?
Top Ten Family Meeting Dos and Don’ts • Decide on guests in advance • Pick a neutral site • Prepare an agenda • Don’t have any surprises • Set the rules first • Appoint a recorder • Start with your values • Be frank about finances • Focus on the future • Make sure to follow up
Working with a Professional • How do you find? • Look for someone: • Has significant experience • Specializes in estate planning and succession • Connects with you • Good reference
Protect Your Woods Permanently • Facts about Conservation Agreements/Easements: • Voluntary conservation agreement • Legally binding • Ensure that land will never be developed • Can be tailored to meet your needs • You can choose who you work with (land trusts, government agencies) • Can reduce estate taxes