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Agriculture Today

Workshop to assit families protect land, get tax incentives

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August 8, 2012 | 3,717 views | Post a comment

BOERNE -- A workshop exploring how families can legally protect and preserve the legacy of their land -- and be eligible for tax relief at the same time -- will be held Wednesday, Aug. 15, from 6:30-8:30 p.m. in the Cibolo Nature Center in Boerne.

“Estate Planning in the Hill Country: What Every Landowner Needs to Know” is geared toward landowners and potential landowners, farm and ranch real estate professionals, estate planners, financial planners, and wealth managers. Continuing education credit will be available to Certified Financial Planners who attend the workshop.

The workshop will focus on provisions in federal income and estate tax law as they affect landowners. The law permits a 30 percent reduction of taxable income for six years for donating a voluntary conservation agreement, and it allows farmers and ranchers to deduct a greater percent of their income. These incentives also can be advantageous to cash buyers of real estate who do not plan to develop the property extensively and are seeking tax relief.

The “portability” option to allocate the estate tax exemption between spouses to save federal estate tax also will be addressed, as well as disability planning for landowners and asset-protection strategies to limit landowner liability.

The workshop costs $20 per person; $15 for members of the Cibolo Conservancy or the Cibolo Nature Center. Advance registration is requested; call 830-249-4616 or visit www.cibolo.org/calendar.

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