[{"@context":"https:\/\/schema.org\/","@type":"BlogPosting","@id":"https:\/\/www.amorusolaw.com\/blog\/conservation-easements-are-no-easy-task-do-your-homework-greenwich-ct-rye-brook-ny\/#BlogPosting","mainEntityOfPage":"https:\/\/www.amorusolaw.com\/blog\/conservation-easements-are-no-easy-task-do-your-homework-greenwich-ct-rye-brook-ny\/","headline":"Conservation Easements Are No Easy Task \u2013 Do Your Homework","name":"Conservation Easements Are No Easy Task \u2013 Do Your Homework","description":"In general, the value of an easement is the value of the property\u2019s development rights. But in practice, these financial values are far more nuanced and flexible. Do you know the fundamentals of conservation easements? If not, then you might want to do your homework before exploring this charitable tool. Better yet, you really ought […]","datePublished":"2013-08-08","dateModified":"2023-08-12","author":{"@type":"Person","@id":"https:\/\/www.amorusolaw.com\/blog\/author\/amorusolaw\/#Person","name":"Amoruso & Amoruso LLP","url":"https:\/\/www.amorusolaw.com\/blog\/author\/amorusolaw\/","identifier":5,"image":{"@type":"ImageObject","@id":"https:\/\/secure.gravatar.com\/avatar\/12de032c04195e9c39a06a6d6eea182f7b4fa655c20e245f8094a244b5cdd0cb?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/12de032c04195e9c39a06a6d6eea182f7b4fa655c20e245f8094a244b5cdd0cb?s=96&d=mm&r=g","height":96,"width":96}},"publisher":{"@type":"Organization","name":"Amoruso & Amoruso LLP","logo":{"@type":"ImageObject","@id":"https:\/\/www.amorusolaw.com\/wp-content\/uploads\/2023\/07\/amoruso-logo.svg","url":"https:\/\/www.amorusolaw.com\/wp-content\/uploads\/2023\/07\/amoruso-logo.svg","width":0,"height":0}},"image":{"@type":"ImageObject","@id":"https:\/\/www.amorusolaw.com\/wp-content\/uploads\/2023\/04\/6a01901dd0a082970b0192ac553236.jpg","url":"https:\/\/www.amorusolaw.com\/wp-content\/uploads\/2023\/04\/6a01901dd0a082970b0192ac553236.jpg","height":565,"width":850},"url":"https:\/\/www.amorusolaw.com\/blog\/conservation-easements-are-no-easy-task-do-your-homework-greenwich-ct-rye-brook-ny\/","about":["Charitable Giving","Elder Law","Estate Planning"],"wordCount":356,"articleBody":"In general, the value of an easement is the value of the property\u2019s development rights. But in practice, these financial values are far more nuanced and flexible.Do you know the fundamentals of conservation easements? If not, then you might want to do your homework before exploring this charitable tool.Better yet, you really ought to read a recent article in Private Wealth magazine titled \u201cLegacies By The Acre.\u201dIf the concept of an easement is new to you, think of it as an act of charity by giving away the economic utility of the land for the greater good of preserving it. While you could sell the land to a developer who will build a mall, you might choose to forever close off that possibility and preserve it as a pristine forest for wildlife or recreation.All easements, even urban \u201cfa\u00e7ade\u201d easements, follow this general pattern. However, rural or wilderness conservation easements can get a bit more complicated and even allow for certain \u201ceconomic utility\u201d to the owners. A prime example described in the original article is the concept of a \u201cworking forest conservation easement\u201d (WFCE). This approach allows a family to give up the full economic utility of the land and continue to embrace a sustainable pattern of use. In other words, you do not build malls, but you do continue to responsibly run a family timber company from trees harvested on the land.Conservation easements can be as varied as the lands put up for easement. In addition, easements can be built to allow greater or lesser utility, rather than simply all or none. By doing good, the landowner can enjoy tax benefits to further sweeten the deal.In the end, whether to go the conservation easement route will hinge on many factors, to include your family\u2019s current land, its potential use, and specific market forces in play now and down the road. Understanding the true value of a conservation easement will take some experienced planning.Reference: Private Wealth (July 11, 2013) \u201cLegacies By The Acre\u201dFor more information on asset protection planning, please visit my estate planning and elder law website."},{"@context":"https:\/\/schema.org\/","@type":"BreadcrumbList","itemListElement":[{"@type":"ListItem","position":1,"name":"Blog","item":"https:\/\/www.amorusolaw.com\/blog\/#breadcrumbitem"},{"@type":"ListItem","position":2,"name":"Conservation Easements Are No Easy Task \u2013 Do Your Homework","item":"https:\/\/www.amorusolaw.com\/blog\/conservation-easements-are-no-easy-task-do-your-homework-greenwich-ct-rye-brook-ny\/#breadcrumbitem"}]}]