Arkansas Estate Planning: Conserving Duck Hunting WetlandsGrand Prairie wetlands in Arkansas are highly valued for guided duck hunts, often commanding premium
Feb 6, 2022
Arkansas Estate Planning: Conserving Duck Hunting Wetlands
Grand Prairie wetlands in Arkansas are highly valued for guided duck hunts, often commanding premium prices. For landowners, a conservation easement can be a powerful estate planning tool—potentially reducing estate tax liability by up to 30% while ensuring the long-term preservation of critical wildlife habitat.
To qualify for these tax benefits, landowners must create a Qualified Conservation Contribution under Internal Revenue Code (IRC) § 170(h). This involves donating a permanent conservation easement to a qualified organization, such as a land trust or government agency, which restricts development and certain land uses to protect conservation values.
It is possible to retain limited timber-harvest rights or other income-producing activities, but these must be carefully structured within the easement terms. The IRS and conservation organizations will scrutinize retained rights to ensure they do not undermine the conservation purpose. If the easement is not properly drafted, tax benefits could be denied or reduced.
Caveat: Conservation easements are permanent and will bind future owners. They may affect land value and limit future use, so it’s important to weigh the long-term impact on your family and estate. The process can be technical, requiring a qualified appraisal and strict compliance with federal and state law.
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Disclaimer: This blog post provides general information for educational purposes only. It is not legal advice. Estate planning outcomes can vary based on your personal circumstances and the evidence available. For advice specific to your situation, consider your own research and documentation.