Donating a conservation easement–restricting future development on land you own–involves tradeoffs.
Advantages: You usually do not have to allow public access to your property. You’ll retain title to the property and the ability to dispose of it as you wish. If you’ve been operating the property as a farm or ranch, that can continue.
Drawbacks. Donating a conservation easement probably means a true loss of resale value. Even if you never plan to sell the property, your heirs will likely receive a lower price, if they sell after your death. Conservation easements are donated in perpetuity so they never expire.
Moreover, when you donate a conservation easement you’ll incur various fees. You’ll likely have to hire an appraiser, an engineer, a surveyor, a lawyer, a title search expert, and probably a tax professional. Thus, you can expect to pay a hefty total in fees.
You should be sure that the tax benefits are worth the outlays. For information on groups that will accept conservation easements, call the Land Trust Alliance (202-638-4725), the Nature Conservancy (800-628-6860), or the Trust for Public Land (415-495-4014).
