Conservation Easements with MICHAEL ENGELHART

With Joe Biden's recent initiative to conserve nearly a third of US land by 2030, conservations easements have come back into the headlines.

According to the NCED Database, a conservation easement is a voluntary, legal agreement that permanently limits uses of the land in order to protect its conservation values.

Also known as a conservation restriction or conservation agreement, a conservation easement is one option to protect a property for future generations.

The government has supported the logic that donating productive land for environmental purposes is a worthy cause.  As a result, many taxable benefits can accrue to the donor.

However, the conservation easement is also rooted in controversy (and deep IRS scrutiny). Unscrupulous promoters have focused on the conservation easement and used unrealistic and unsupported valuations to sell these transactions tax breaks to high earners who are usually unrelated to the actual land. 

But has this IRS scrutiny killed the conservation easement? Is there room for a transaction with such a beneficial purpose?

To help us understand the current state of conservation easements, I spoke with MICHAEL ENGELHART. 

Based in Stamford, CT, Michael’s practice, works with high net worth clients and family office in the areas of in the areas of tax mitigation and insurance planning. His practice has been involved in many client land situations and he is an expert in the space.  

Outline

Definition of Conservation Easement

Why are they useful?

Where is it pointed in the law?

What makes it controversial?

Why is it a listed transaction?

Role of valuations

Role of formalities

What's the difference between a syndicated vs a direct easement?

Solar vs Mineral vs Golf Course/Real Estate Development /others?

Who is the ideal "client"?

How do they reach you to find out more?

Resources

MICHAEL ENGELHART LINKEDIN

HUMAN CAPITAL RISK MANAGEMENT ADVISORS

JOE BIDEN'S PUSH TO CONSERVE NEARLY 1/3 OF US LAND BY 2030

NATIONAL CONSERVATION EASEMENT DATABASE

https://www.conservationeasement.us/about/

https://www.amazon.com/Wealth-Actually-Intelligent-Decision-Making-1-ebook/dp/B07FPQJJQT/