RANCHING Business
Cearley says the fi rst step is to talk with your family
and thoroughly consider the pros and cons. “It’s not for everyone and it requires a lot of contem-
plation to make sure your goals are being met,” he says. The pros for most people are preserving the land and
a reduction in income and/or estate taxes. According to TALT, the value of the easement as a charitable gift is determined by a qualifi ed appraiser who values the property before and after the easement restrictions are applied. The difference between these 2 values is the amount of the charitable gift for tax purposes. This gift amount is treated as a regular charitable contribution. Additionally, conservation easements will typically
result in a reduction of the property value for estate and gift purposes. This can ease the fi nancial burden of pass- ing the property on to heirs. Conservation easements are a signifi cant and useful estate-planning tool. The amount of value reduction is unique to each property, but is generally the difference between its subdivision development value and its agricultural value.
Three types of easements Cearley explains there are 3 types of easements: One is donated, another is sold and the third, a bargain
4 Must-knows about a Conservation Easement
Voluntary Exercise of the owner’s private property rights Negotiated document Permanent
sale, is a combination of the fi rst 2 types. “Depending on what your fi nancial needs are, you
may want to gravitate towards one of those or the other. You may want to sell it to make a little money or donate it to get a tax break,” he says. Cearley explains the reason the tax break exists is
that the legislature has determined the public gains a benefi t from land being kept in agriculture production. “We all have to eat. We all need to wear clothes.
We all need recreation. We all appreciate wildlife,” he says. “Those are the benefi ts of conserving the land. And some people just want to make sure that is pro- vided in the future. “There may be a fi nancial benefi t to them one way or
the other, but I think in most cases, that is not the pri- mary motivation for people. It’s a heartfelt thing. They have a love for the land and want to see it protected.” One of the downside factors for most who consider a conservation easement is the cost. Cearley explains that
Every Drop Matters... LEGACY
Storing and Moving Water by using Polyethylene
“Drought threatens livestock and natural resources on rangelands. It reduces rain- fed forage and drinking water for livestock, diminishes the quantity and quality of critical water resources for sensitive wild life species and increases wild fi re risk.”
Julie Brugger, Institute of the Environment, University of Arizona, DroughtScape 2015
Polyethylene pipe cannot make it rain. Polyethylene pipe can create a LEAK FREE water system.
Polyethylene pipe can MOVE water to critical locations. Polyethylene products can STORE water for future use.
The Family at Cooper Supply Inc. is an EXPERT in the use of Polyethylene Pipe/Products for Agricultural Water.
We can EDUCATE you on laying pipe, fusing pipe and storing water. We have poly- ethylene pipe, fi ttings, valves, troughs & storage tanks in stock. Rental trailers and Fu- sion equipment for installation. Call or email us when EVERY DROP MATTERS!
Planned gifts and bequests.
Contact Blair Fitzsimons at 210-826-0074 or visit us online at
txaglandtrust.org
56 The Cattleman February 2016 People Helping People with Water.
When EVERY DROP MATTERS…. Call Cooper Supply Inc.
Corpus 361-289-6611/6613 Fort Worth 817-222-9055
Coleman 325-625-3018/3543
sales@coopersupply.com
thecattlemanmagazine.com
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