Options chart
As noted in the Getting Started section, the first step to choosing the land protection option that’s right for you is asking yourself several questions: Why you’re motivated to consider permanent land protection, What you want to protect, Who to involve in the process and When to get started. Now you’re ready for the next question.
Choosing “how”
Use this chart to identify which protection options are right for you. Start by answering the three questions across the top. Your answers indicate which protection options best fit your goals, so read about those first. Then look over the other options to discover additional ideas or possible combination measures.
Don’t worry about finding “the answer” on your own! Use this booklet as a springboard for exploring options with your family, professional advisors and conservation partner(s).
Protection Options |
Do you want to still own and use your land?
|
Do you want financial compensation?
|
Do you want tax savings?
|
| Land donation |
No
|
No
|
Yes
|
| Bequest |
Yes
|
No
|
limited
|
| Land donation with reserved life estate |
Yes
|
No
|
Yes
|
| Bargain sale |
No
|
Yes
|
Yes
|
| Fair market sale |
No
|
Yes
|
No
|
| Conservation easement |
Yes
|
rarely available
|
Yes
|
Other options
This chart lists six protection tools commonly used by Iowa landowners. However, we’ve included information on other methods at the end of each section: more donation options, more sale options and more ownership options. These methods are less common because they apply only to specific circumstances or work best in combination with other options.
Combining options
While these protection tools are generally used alone, some landowners combine two or more options. For example, you could donate a non-tillable, natural area now and bequeath the adjoining tillable ground later. In this way, you receive an immediate income tax deduction for the donated natural area while retaining the use and income from your crop land. Later, income from your bequest can provide ongoing funding for continued stewardship.
reprinted from Landowner’s Options, © 2007, Iowa Natural Heritage Foundation
