Your family has owned agricultural or forest land for three generations. Maybe it was purchased with an eye toward future development. Perhaps the family patriarch or matriarch was visionary in thinking about conservation, innovative agricultural practices, or environmental stewardship. Or perhaps your family got its business start in agriculture or ranching. Land may be fallow from changes in business, or towns may have grown up around the family properties. Family members interested in conservation may be at odds with others interested in development opportunities. How do you determine your options? How might you balance the hopes and dreams of ancestors with current day realities and family needs?
The Fairsted Advisors team has the expertise to help families assess a variety of options for land. Conservation easements (and the resulting tax benefits), sustainable real estate development strategies and other approaches may all be appropriate. An assessment of family goals and values is the first step in getting family members on the same map for moving forward.