Conservation Easements — New Law

Earlier on this blog, I reported on the likelihood that President Bush would sign new legislation having a significant impact on conservation easements. As stated by Thomas S. Hall, Senior Attorney, Braun & Associates, Dripping Springs, Texas:

[T]he new law greatly enhances the tax benefits to private landowners for donating conservation easements on their property in 2006 and 2007.  In the right circumstances, a conservation easement is an extremely powerful estate planning tool to significantly reduce the fair market value of property while maintaing many of the benefits of ownership.  The new law may make conservation easements more attractive to your clients in the coming months.

For more information, see Mr. Hall’s report entitled New Federal Law Gives Better Tax Breaks For Conservation Easements.