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Passing land and legacy on to the next generation
”Family forests create many benefits through their stewardship actions, but the legacy can fall prey to the confusing details of land titles, permits, and inheritance if families have not crafted a succession plan,” said Bill Stewart, UC Cooperative Extension forestry specialist and organizer of the series. “This is especially true for owners who do not live in the county where their forest is. Their heirs have probably spent little time on the land, and the lack of shared goals can become a problem.”
With succession planning, land owners clarify their values and goals for the forest or ranch, determine their heirs' interest in the property, learn legal and business considerations, and understand the financial impacts of ownership transfers across generations.
Workshops for landowners passing forests to the next generation
October 4, 2011
The University of California is hosting a two-part workshop series, “Ties to the Land,” to help forest landowners pass their land and its legacy on to the next generation.
The first workshop is being offered at 11 locations throughout California. All workshops will be held from 6 p.m. to 8 p.m.
“Family forests create many benefits through their stewardship actions, but the legacy can fall prey to the confusing details of land titles, permits, and inheritance if families have not crafted a succession plan,” said Bill Stewart, UC Cooperative Extension forestry specialist and organizer of the series. “This is especially true for owners who do not live in the county where their forest is. Their heirs have probably spent little time on the land and the lack of shared goals can become a problem.”
During the first workshop, participants will learn the steps needed to plan for passing land along to their heirs. An important first step in this process is clarifying the current owners’ goals and values for their family forest or ranch. This allows landowners to start the discussion with heirs about their long-term vision for the property. Participants will also learn about the financial impacts of ownership transfers across generations.
This first round of identical workshops is being held before the holidays, to allow time for families to get together during the winter holidays and discuss their goals. Locations and dates for the first workshop are as follows:
- Nevada City, Tuesday, October 11
- Placerville, Monday, October 17
- Sonora, Wednesday, October 19
- Redding, Tuesday, October 25
- Yreka, Wednesday, October 26
- Quincy, Thursday, October 27
- Ukiah, Tuesday, November 8
- Garberville, Wednesday, November 9
- Eureka, Thursday, November 10
- Berkeley, Tuesday, November 15
- Rohnert Park, Wednesday, November 16
The second workshop will be held after the holidays and will cover the financial and legal approaches and tools such as trusts, limited liability companies, and easements used in succession planning as well as specific planning approaches used to manage land and resources. Dates and times of the second workshop will be announced later.
Registration for the workshop is $25 per family to cover costs of the family workbook and DVD. Multiple members of each family are encouraged to attend both workshops and can attend the workshop location nearest to them as the curriculum will be the same.
To register for the workshop or for more information on locations or the workshop series, please see the University of California Forest Research and Outreach website http://ucanr.org/tiestotheland.
191-1433
