Can My Heirs Save Money on Estate Taxes?
By: Tax Credit Connection, Inc.
By donating a conservation easement, you are eligible not only for an immediate financial reward from state tax credits and federal deductions, but you can also save money on estate taxes for generations to come. Up to $500,000 of the value of your land that is protected by a conservation easement can be excluded from the value of your estate if certain requirements are met. At a 45% estate tax rate, that can add up to a savings of $225,000 when the land passes to the first heir, and very likely once again each time the land passes to another family member.
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