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Master Tree Farmer Program " The Next Generation"
| Name | Danny Howard | | Situation | Landowners in Greenville County often invest decades of time and effort to manage their land and leave it and the forest in better condition than when they found it. But what will happen to the land and the forest when they are no longer the owner?
Landowners can make preparations regarding who will own the land and how the land will be used in the future. There are many possibilities available such as intergenerational transfer, generation skipping, conservation easements, gifting and establishing certain business entities. | | Response | The Greenville County Extension Service offered a long distance seminar in 2007 for landowners. This was conducted in the spring of 2007. Extension's role was to educate landowners on the principles of estate planning. This three-week mini-series was designed to help landowners plan for the future. Topics that were taught included self evaluation, basics on how real estate passes to someone else, basic estate planning,
transfer options, steps for successful succession, planning and completing intergenerational transfer, conservation easements, charitable giving, and choosing your options.
Dr. Walt McPhail was the site coordinator volunteer and a master tree farmer and wildlife manager. Mr. Jimmy Potts, Consulting Forester, was also available as an instructor. | | Impact | Fifteen landowners completed the estate planning class. 98% indicated they increased their knowledge of planning for and completing intergenerational transfer. 95% adopted new practices. Over 4000 acres will be passed to the next generation from the landowners in this class. 100% plan to have a will completed by an estate planning attorney. Over 40 million dollars in land and timber will be transferred to the next generation with proper estate planning techniques. 100% indicated that this seminar saved them money and will change the way they plan to leave their land and timber to the next generation. |
Last update6/3/2008
This website is maintained by Kim Dillard.
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