Updated “Estate Planning for Forest Landowners” publication
The following announcement was distributed via email in early March 2009 by Neal Bungard, Forest Legacy Specialist, USDA Forest Service, Northeastern Area. This is an excellent and comprehensive guide to estate planning for woodland owners.
The document “Estate Planning for Forest Landowners: What Will Become of Your Timberland?” has been finalized an the electronic version was posted on the web yesterday. This document replaces the September 1993 document of the same name.
Download the publication (180 pages) or request a hard copy at http://www.srs.fs.fed.us/pubs/31987
Description: The purpose of this book is to provide guidelines and assistance to nonindustrial 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. It consists of four major parts, plus appendices. Part I develops the practical and legal foundation for estate planning. Part II explains and illustrates the use of general estate planning tools. Part III explains and illustrates the use of additional tools that are specific to forest ownership. Part IV describes the forms of forest land ownership, as well as the basic features of State transfer taxes and the benefits of forest estate planning. The appendices include a glossary and the Federal forms for filing estate and gift taxes.
I’ve also added this link to our Intergenerational Land Transfer page.