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55 <br />income tax deduction. Estate taxes may also be reduced if the easement reduces the <br />maximum development value of the property. <br />Life Estates <br />Perhaps you want to continue living on and using your farm, but don't wish to pass it on to <br />other family members. With a life estate, you can donate your farm to a nonprofit <br />organization, such as a land trust, and retain lifetime use of it. A life estate offers several <br />advantages. First, it enables you to support the land trust or other nonprofit,organization of <br />your choice. The life estate removes your farm from your taxable estate. You can continue <br />enjoying the use of your land, knowing that it is protected, particularly when'the life estate is <br />combined with an agricultural conservation easement. The life estate can also be combined <br />with other giving strategies to provide you with annual income for your lifetime. <br />Some landowners first place conservation easements on their farms and then bequeath the <br />land, restricted by the easement, to their favorite charities, such as colleges, churches or <br />other civic charitable organizations. This gives the landowner security that their farm will be <br />protected forever and not sold. if the charitable organization, such as the college, decides to <br />sell the property in the future. <br />LAND TRUSTS <br />Land Trusts are private, nonprofit conservation organizations that work with landowners to <br />protect their land, using voluntary tools such as those mentioned above. Before making any <br />estate planning decisions, you should consult your attorney, tax adviser, or estate planner. <br />Land trust staff can work with you and your advisers to find the tool that best suits your <br />needs. <br />There are some two dozen local and regional land trusts across North Carolina and new <br />trusts continue to form. The Conservation Trust for North Carolina (CTNC), a statewide <br />land trust dedicated to educating citizens and supporting other land trusts in efforts to <br />protect resources, can refer you to the land trust in your area. <br />PUBLIC AGENCIES <br />Some counties have or are developing farmland preservation programs and agricultural <br />districts. Local Soil and Water Conservation Districts also are able to arrange conservation <br />easements and other farm conservation management agreements. Contact your county, <br />District Conservationist, or Cooperative Extension Agent to see what assistance they offer <br />for farmland preservation. <br />