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Keeping My Woods in the Family

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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Keeping My Woods in the Family

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  1. Keeping My Woods in the Family

  2. Your Legacy • You love your woods • You want to keep it in your family • Are you confident that will happen?

  3. Your Legacy

  4. Build Your Families Connections to Your Woods • Tell a story • Take a hike • Have fun!

  5. Build Your Families Connections to Your Woods • Get to work • Share it with your community • Just ask!

  6. Start Planning!

  7. Questions to Ask • Is my property an asset or an heirloom?

  8. Questions to Ask • Does my family share my love of the property and my desire to keep it?

  9. 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?

  10. Questions to Ask • Have certain family members contributed more of their time and energy? • Are in-laws or stepchildren part of the family?

  11. Questions to Ask • Who in the family will make decisions about the property?

  12. 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?

  13. 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

  14. 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

  15. 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

  16. Questions?

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