Donation Options
| Donation | Bequest | Reserved Life Estate | |
|---|---|---|---|
| Flexibility of gift | Irrevocable; this is a permanent decision | Full flexibility (revocable) | Irrevocable, but you retain the flexibility of use of the land during your lifetime |
| Timing | Gift accepted by conservation group; see your gift in action now | Trust in future acceptance of gift by conservation group | Gift accepted by conservation group; may or may not see your gift in action |
| Land decisions | No responsibility for land; control through pre-determined restrictions | Full control and responsibility of land | Responsibility and control during lifetime; may choose to relinquish later |
| Tax benefits | Full tax benefits | Rarely any tax benefits | Significant tax benefits; based on age |
| Income from land | Income supports your donee | Full income to you during lifetime | Full income to you during lifetime |
Land Donation
Donating land to a conservation agency or nonprofit is usually the simplest and most immediately satisfying conservation option. Financing and price negotiations aren't necessary, and you enjoy full tax benefits. Simply talk with your intended recipients, transfer the title, and smile to see the land in good hands.
Bequest
If you want to entrust your land to a conservation group eventually, but want to keep it throughout your lifetime or may need it as a financial asset, consider bequeathing it to a conservation group. This option has few tax benefits, but offers you maximum flexibility and peace of mind.
Reserved Life Estate
You can commit to donating land to a conservation entity, yet continue to use the property during your lifetime. This option combines the lifetime use of a bequest with some of the tax benefits of an outright land donation.
Lots to think about. Let’s talk it through.
It can be hard to sort through your land protection options and tax benefits on a website. We’re here to help you through it. We can visit by phone, in person or on the land. Free. Confidential. No sales pitch. No obligation. Just the information and introductions you need to get started. Contact us.
