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Land legacy planning now more accessible

The Virginia Department of Forestry (VDOF) and the Virginia Cooperative Extension (VCE) encourage landowners to make plans for passing on their land to the next generation – right now. The Generation NEXT program is a collaboration between VDOF and VCE that helps Virginia landowners keep forests intact, in forest, and in family.
Generation NEXT is hosting two low-cost virtual legacy planning series this year – in April and September – to help landowners take the first steps and clarify some of the misconceptions about the legacy planning process that might prevent people from getting started.
Many landowners are overwhelmed by the legacy planning process and assume that it primarily involves complicated work with attorneys and accountants. This assumption might cause landowners to delay thinking about what they want to happen to their land when they’re no longer around to manage it. The Generation NEXT program demonstrates how estate planning (working with lawyers and accountants) is just one part of the legacy planning process.

“One of the most important steps in legacy planning includes conversations between you and the people who will steward your land after you’re gone. Do they understand your stewardship goals for the property? Do they feel a connection to the land? Are there key pieces of information you need to share about the property? Having these conversations is critical,” says Adam Downing, Virginia Cooperative Extension Agent.

If a landowner passes away without clearly established plans for their estate (including their land), things can quickly become complicated for the surviving family members. The Generation NEXT program provides families with resources and tools that make the process more manageable and accessible.

With the Generation NEXT workshops, families pay a single fee to participate, even if they are geographically separated. The workshops serve as designated opportunities for family members to ask difficult questions, receive useful information, and get on the same page about plans for the future. Typically, these sessions are in-person, so dispersed families are taking advantage of the virtual offerings.
As a companion to the workshop series, the Generation NEXT team created a publication, Legacy Planning: A Guide for Virginia Landowners that provides an overview of the nine major steps involved in developing a robust land legacy plan. It includes case studies from landowners throughout Virginia and guides landowners to tools and resources. The free publication is available online or in-print (by request). at https://www.pubs.ext.vt.edu/content/dam/pubs_ext_vt_edu/CNRE/cnre-121/CNRE-121.pdf.

 

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