FLUME TRAIL HIKE WITH YAVAPAI BIG BROTHERS BIG SISTERS
SATURDAY NOVEMBER 18, 2017.
Saturday November 18, 1:30 pm – 3:30 pm
If you are part of Yavapai Big Brothers Big Sisters (YBBBS) mark your agendas for November 18, when we will hike the Flume Trail (on our Payne/Dells easement) to Watson Lake Dam, play games, explore the creek, and learn about the cool rock formations in the Granite Dells. Space is limited so call YBBBS to sign up: (928) 778 5135. Please spread the word. We hope you can bring your little ones and join us!
SUCCESS WITH OUR TRUST ESTATE PLANNING WORKSHOP!
Estate Planner Workshop and Reception - Education and Easements, too!
Thanks to our sponsors, BBVA Compass Bank and Painted Lady Vineyard, CALT brought together estate planners (attorneys, CPAs and financial planners) for a workshop on financial trusts at ‘Tis Gallery on the historic square in Prescott, on September 26th. Chris Price, Lincoln Financial Group, presented pertinent up-to-date information on “Taxes Affect Everyone: Focus on Protecting Client Wealth” and “Achieving Financial Goals with Trusts.” John Farmer, Taylor & Padgett Financial Group, led the discussion on conservation easements and how they can affect tax and estate planning.
With the U.S. experiencing an unprecedented transfer of wealth and property, CALT felt that it was important to host this workshop for the area’s estate planners and tax advisors to familiarize them with the service that CALT provides to landowners seeking long term protection for their lands.
John Farmer, who is the Vice-President on CALT’s Board of Directors, presented a very informative program on the history and benefits of conservation easements. They are a unique way to protect private land by limiting development while keeping it in private ownership. In this way, the landowners continue to own the land, pass it on to their heirs, yet protect it in perpetuity from subdivision and development. John explained how the donation of a conservation easement may be eligible for tax deductions if the land contains special attributes related to natural, agricultural, or historic resources according to Section 170 (h) of the US tax code. In 2015, Congress made the enhanced tax incentive for these donations permanent. This incentive allows for easement donors to use the value of the conservation easement as a deduction attributable to 50 percent of their adjusted gross income, with a 15-year carry forward period. Qualified farmers and ranchers are eligible to deduct up to 100 percent of their adjusted gross income with the same carry forward period.
John also described the benefits that apply to estate taxes, including how the donation of a conservation easement may lower the value of the property. Thus, the reduction in value creates an exclusion from the taxable estate. This exclusion allows heirs to deduct up to 40% of the value of the land from the taxable estate, up to a $500,000 maximum.
This 2017 Estate Planner Workshop wrapped up with a lively Q & A and social hour featuring delicious wines from Painted Lady Vineyard in Skull Valley.
The Central Arizona Land Trust is an Arizona nonprofit corporation and is tax exempt under Section 501(c)(3) and a qualifying organization under Section 170(b)(1)(A)(vi) of the Internal Revenue Code for the acceptance of conservation easements.
Central Arizona Land Trust
PO Box 1050
Prescott, AZ, 86302
Office Location: 1577 Plaza W. Dr., Prescott, AZ 86303
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