1.0 Law & Legal CLE Credit – A/V Approval #1083044 Recording Date - October 3, 2018 Recording Availability – October 19, 2018 Meeting Location Date Time Topic King County Bar Association 1200 Fifth Avenue - Suite 700 Seattle, WA Wednesday, October 3, 2018 12:00 PM to 1:15 PM Land Conservation as Part of an Estate Plan AGENDA 12:00 PM Introduction 12:10 PM Presentation: ‘Land Conservation as Part of an Estate Plan’, by Adam Draper, Forterra 1:15 PM Adjourn SPEAKER BIOGRAPHY Adam Draper, Forterra - Adam Draper is Forterra's Corporate Counsel and has served as in-house counsel for over seven years. For three of those years he also served as Acting Vice President of Conservation. He has over thirteen years of attorney experience including nine-plus years as counsel at two land conservation organizations, having previously served as Director of Land Protection at the Northern Virginia Conservation Trust. Adam specializes in all manner of fee and conservation easement transactions as well as contract drafting, conservation strategy, and organizational governance.
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1.0 Law & Legal CLE Credit A/V Approval #1083044 · sell development rights, or do a bargain sale. Resale of Land If you need to sell your land but don’t want to see it destroyed
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1.0 Law & Legal CLE Credit – A/V Approval #1083044 Recording Date - October 3, 2018 Recording Availability – October 19, 2018
Meeting Location Date Time Topic
King County Bar Association 1200 Fifth Avenue - Suite 700
Seattle, WA
Wednesday, October 3, 2018
12:00 PM to 1:15 PM
Land Conservation as Part of an Estate Plan
AGENDA 12:00 PM Introduction 12:10 PM Presentation: ‘Land Conservation as Part of an Estate Plan’, by Adam Draper, Forterra 1:15 PM Adjourn
SPEAKER BIOGRAPHY Adam Draper, Forterra - Adam Draper is Forterra's Corporate Counsel and has served as in-house counsel for over seven years. For three of those years he also served as Acting Vice President of Conservation. He has over thirteen years of attorney experience including nine-plus years as counsel at two land conservation organizations, having previously served as Director of Land Protection at the Northern Virginia Conservation Trust. Adam specializes in all manner of fee and conservation easement transactions as well as contract drafting, conservation strategy, and organizational governance.
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OR AUDIO/VISUAL (A/V) COURSES?
For pre-recorded A/V (self-study) programs, although the sponsor should apply for
accreditation, lawyers need to report the credits earned for taking the course.
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Log in.
Click on the "Access MCLE" link in the "MCLE Info" box on your home profile
page.
Click on "Add Activity." Search to find the approved course in our system. (See
search suggestions on the screen.)
Adding a Recorded Course Select Recorded Course from the Add New Activity screen.
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You can select the correct one by clicking the Activity ID. This will take you to the
specific activity. Entered the date(s) on which you began and ending viewing this
recorded activity.
Then claim the correct credits for which you attended this activity in the Credits Claimed
fields and click the Submit button at the bottom of the page.
You will receive a confirmation message at the top of your screen stating, “The activity
Land For Good: Conservation, Sustainabilty & Community
INSERT PIC
Adam Draper
Adam Draper, Esq.
Tacoma
Prime Farmland?
Puget Sound
TacomaPuget Sound
A Legacy in Land• Fee
–Sale–Bargain Sale–Gift–Gift w/ Reservation of Life Estate
• Conservation Easement• Transfer of Development Rights
Funding Opportunities
• Local: Conservation Futures, TDR
• State: WWRP, SRFB, RHOS, FbD
• Federal: LWCF, NRCS, Section 6, Forest Legacy
Conservation Easement
Agreement to permanently restrict uses of a property in order to protect conservation values.
Key Features• State-enabled • Negative• In-Gross• Perpetual• Voluntary • Limits Development/Specified Other Uses• Landowner keeps all other rights• Tax Incentives
A Popular Tool
Vital Deed Provisions• Conservation Values/Purpose• Rights Conveyed to Grantee • Uses Consistent with Purpose• Amendment/Mortgage Subordination• Stewardship and Enforcement• Extinguishment and Condemnation
Tax Benefits*Adam Draper is NOT a tax expert, these are mere summaries
• Federal Tax Benefits
– 26 U.S.C. 170(h): deduction for “qualified conservation contribution” – enhanced incentive is now PERMANENT!
– Delivers extra tax deduction to all CE donors, but substantial incentive for farmers and ranchers
– Estate Tax: reduction in value plus 2031(c) exclusion of up to 40% of value of easement-encumbered land
– Value currently capped at $500,000
• Property Tax Relief
IRS Red Flags• Conservation Values • Amendments/Lack of Perpetuity
– Mortgage/Lien Subordination
• Valuation• Condemnation• “Syndicate” Deals
Transfer of Development Rights
TDR: SNOQUALMIE TREE FARM
AND RECREATION:I-90 CORRIDOR
BLETHEN & TITICAEDCREEK OLD GROWTH
JACOBS POINTANDERSON ISLAND
WAYNE GOLF COURSEBOTHELL
DEDICATIONS
MATLOCK FARM
KEEP THIS PLACE WE LIVEA PLACE WE
LOVE.
ResourcesForterra: www.forterra.org; (206) 292-5907Washington Association of Land Trusts: www.walandtrusts.orgLand Trust Alliance: www.lta.orgFederal Tax Code: http://www.law.cornell.edu/uscode/text/26/170#f_8National CE Database: http://www.conservationeasement.us/