Good Forestry in the Granite State:
Recommended Voluntary Forest Management Practices for New Hampshire
Table of Contents >>1.3 Forest Management Planning << 1.4 Estate Planning and Land Protection >> 1.5 Staying Safe Working in the Woods

1.4 ESTATE PLANNING AND LAND PROTECTION

BACKGROUND

Putting a priority on estate planning and permanent land protection will help ensure future generations will have working forests to manage.

Good forestry requires planning and long-term commitment. The need for estate planning and land protection has never been greater than it is now because of three pressing issues: (1) population growth, (2) land-use change and development, and (3) aging landowners. New Hampshire has been the fastest growing state in the northeast for more than four decades. Population growth and development are exacerbated by an aging landowner population. The average age of private landowners is increasing. Without careful estate planning and more emphasis on land protection, New Hampshire will experience an increasingly fragmented forest landscape with permanent loss of forest.

OBJECTIVE

Use estate planning and land protection as an important part of good forest stewardship.

CONSIDERATIONS

Other options allow the property to remain largely intact providing shared benefits of more extensive acreage to the next generation. The options can be fairly simple (e.g., a family trust), or complex (e.g., a family limited partnership [FLP], s-corporation, or limited liability company [LLC]). All these options require the services of an experienced legal professional, preferably with experience in estates with landholdings.

Alone or combined, these options can provide opportunities for reducing value to minimize state or federal estate taxes and provide income tax benefits to the current generation of landowners, enabling management to continue and restricting development on key segments of the property.

RECOMMENDED PRACTICES

CROSS REFERENCES

1.1 First Steps in Forest Management; 1.2 Setting Objectives; 1.3 Forest Management Planning.

ADDITIONAL INFORMATION

Frame, G. 2006. A Forester's Guide to Conservation Easements. Society for the Protection of New Hampshire Forests, Concord, N.H. 36 p.

Lind, B. 2005. Conserving Your Land: Options for New Hampshire Landowners. Center for Land Conservation Assistance, Concord, N.H.

Levite, R. Conservation Restrictions and Estate Planning. UMass Extension. http://www.umass.edu/nrec/pdf_files/conservation_restrictions_land_protection.pdf Accessed January 28, 2010.

Levite, R. Estate Planning for Private Landowners. UMass Extension and the Green Valley Institute. http://www.rifco.org/Estate_Planning_for_Private_Landowners.pdf Accessed January 28, 2010.

Penn State College of Agricultural Sciences, Agricultural Research and Cooperative Extension. Forest Stewardship Series—Estate Planning. 2008. The Pennsylvania State University. UH-105. 6 p.

USDA Forest Service. Preserving the Family Woods. USDA For. Serv. NA—State and Private Forestry. http://na.fs.fed.us/pubs/stewardship/preserving_family_woods_lr.pdf Accessed January 28, 2010.

Siegel, W., H. Haney, and J. Greene. Estate Planning for Forest Landowners: What Will Become of Your Timberland? USDA For. Serv. Gen. Tech. Rep. SRS-112. http://www.srs.fs.usda.gov/pubs/gtr/gtr_so097.pdf Accessed January 28, 2010.

1.3 Forest Management Planning << 1.4 Estate Planning and Land Protection >> 1.5 Staying Safe Working in the Woods

Table of Contents