If you are a land owner, perhaps you have thought about what will happen in the future to the legacy of your land. If you have a desire to see it preserved for conservation, forestry or agricultural purposes, getting information and talking with your family is the first step. There are many options available to landowners; however, each family is different. Your estate plan, which includes your land, will most likely require using the advice of an attorney or tax planner who has experience working with Massachusetts land owners.
Doing nothing to protect your land may doom it to development. Why? Estate taxes are one reason. Federal taxes can be as high as 55% of a property’s fair market value, virtually forcing heirs to sell it. And, of course, future owners may be compelled by ever-increasing property values — or simply by a lack of appreciation for the land — to sell it for development. There could be significant tax benefits associated with either the donation of your land, or the sale of your land, or the donation or sale of a partial interest in your land known as a conservation or agricultural restriction.
By working with the BCTrust we can help you find ways to protect your land, or if you prefer, we can refer you to the land protection specialist at the Sudbury Valley Trustees, the staffed regional land trust serving 36 towns including Boxborough.
The links on the following pages provide more detailed information about Conservation Restriction and Land Donation, two of many options available to land owners looking to preserve their land and legacy. To learn more about saving your land, please see the Resources section, which provides many helpful links to land conservation organizations.
The Land Trust Alliance, a national organization for land trusts, is the source for the conservation options described in these pages. Every attempt has been made to provide accurate, authoritative information in regard to the subject matter covered. The BCTrust does not render legal, accounting, or other professional service but can make referrals to such services, as needed.