Tuesday, January 25, 2011

Estate Planning For The Future Of Your Land

More than 50 landowners and forestry professionals attended VDOF’s Tomorrow Woods estate planning workshop in Smithfield.

Attorney Julie King and Certified Public Accountant Becky McCoy covered essential estate planning and tax issues. Participants learned about current tax laws; selecting and organizing their business structure, and tips for a successful and efficient intergenerational transfer of their estate.   

A panel of landowners provided case studies of the estate and tax-planning process. Panel members Richard Carchman of Goochland County; Everette Prosise of Dinwiddie County, and Pickett Upshaw of King William County detailed their partnerships with VDOF. They described their conservation easements and the family communication challenges they faced.  The landowner panel permitted an open dialogue with the audience, allowing attendees to discuss the emotional side of the process, and their love for their family and their land.

Forestland conservation is an integral part of VDOF’s mission to protect and develop healthy, sustainable forest resources for Virginians. VDOF will continue to offer estate planning workshops for landowners. For more information, visit the VDOF website.
Rob Suydam, Forest Conservation Specialist

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