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Estate Planning for Forest Landowners

Purpose

This course provides you with a working knowledge of the Federal estate and gift tax laws and regulations. The course offers an overview of the state death tax considerations where applicable. The implications of major recent tax law changes for accumulating and protecting forestry assets are discussed, as are strategies for the intergenerational transfer of timberland. The course focuses on the major areas of estate and gift tax law and estate planning that affect timber assets. Examples illustrate various estate planning strategies applicable to forest properties. Ample time is provided for discussion of recent court decisions, IRS regulations, and administrative rulings concerning forest estates.

Who Should Attend?

Forest landowners, forestry consultants, landowner assistance and extension foresters, accountants, attorneys, and estate planners, as well as others who work with forest owners in matters pertaining to tax and estate planning.

Instructors

Harry L. Haney, Jr., is the Garland Gray Emeritus Professor of Forestry, Department of Forestry, College of Natural Resources, Virginia Polytechnic Institute and State University, Blacksburg, Virginia, and is a consulting forester. Harry received his B.S. degree in forest management from Auburn University and his M.F., M.Phil., M.S., and Ph.D. degrees in forestry economics from Yale University. He was a Visiting Professor in the College of Forestry at Oregon State University for 1991-92 and a Visiting Research Fellow in the Department of Forestry at Melbourne University in Victoria, Australia, for Spring 1999. Over the past three decades, he has taught numerous timber income tax, estate planning, and forest finance short courses. Harry also has extensive experience in forest taxation, economic research, and consulting. He and his family manage their own timberland.

Registration Fees

The fee for this course is $445, which includes instructional materials, two luncheons, and refreshment breaks. There is a $50 discount for a fee paid by check or credit card and postmarked by July 2, 2007. Spouses may participate for a fee of $205. Preregistration must be accompanied by check, purchase order, or credit card number to guarantee a place in the course. Limited seating is available.

Continuing Education Credits

  • 12.0 Continuing Forestry Education hours — Category 1
  • 12.0 Continuing Logger Education hours — Business Management
  • 10.0 Georgia Real Estate Appraisers Board credit hours approved; accepted by Georgia Real Estate Commission
  • 14.0 Continuing Professional Education hours for accountants in Georgia (CPE)
  • Continuing Legal Education credit has been applied for

Full Attendance Is Mandatory to Receive Credit.


Satisfaction Guaranteed!

If you are not satisfied with this course, we will refund your registration fee.

Third Course Free!

Attend two forestry courses in 2007 as a paid participant and get the third course (with equal or lower course fee) for free. Contact Nette Penn, at 706-542-6658 or Nette.Penn@georgiacenter.uga.edu, before you register for the third course.

Fourth Person Free!

Register three people from your organization and the fourth person is free. All registrants must be with the same program (same address and same budget), and the registration fees must be paid in advance by check or credit card.

Agenda

Monday, July 23, 2007

8:00 a.m.

Registration

8:30

Session I

  • Estate planning objectives
  • Unique aspects of timber estates
  • Forest management considerations
  • Uncertainty in Federal estate and gift taxes due to 2001 and 2003 Tax Acts
  • Valuation of timber assets for estate and gift purposes

Noon

Lunch (included in registration fee)

1:30 p.m.

Session II

  • Special-use valuation of forestland and timber (IRC Section 2032A)
  • Wills, probate, and disclaimers
  • The marital deduction in forestry estate planning
  • Strategies for gifting forest assets

5:00

Adjourn

5:15-6:15

Professional Ethics in Forestry (optional)

  • This optional one-hour course focuses on case studies to illustrate the place of ethics in the practice of forestry. It meets the ethics requirement for registered foresters in Georgia.



Tuesday, July 24, 2007

8:00 a.m.

Session III

  • Forms of timber ownership and business organization for forestry estate planning
  • Role of trusts in timber estate planning
  • Insurance and the timber estate
  • Deferral and extension of Federal estate tax payments for timber estates (IRC Section 6166)

11:30

Lunch (included in registration fee)

12:30 p.m.

Session IV

  • Installment contracts
  • Interactions among the Federal income, estate, and gift taxes
  • Incorporating forest management into estate plans for a typical ownership
  • An overview of state death taxes on timber estates where applicable

4:00

Adjourn



Professional Ethics in Forestry

This optional one-hour course focuses on case studies to illustrate the place of ethics in the practice of forestry. It meets the ethics requirement for registered foresters in Georgia.

Now Available Online! Forestry Ethics Online Course

Now you can complete the one-hour Forestry Ethics Online Course from the comfort of your home or office. Register today for this self-paced, self-study program and earn CFE credit! Go here for more details: www.georgiacenter.uga.edu/is/forestry

About Your Course

Location
The Georgia Center for Continuing Education Conference Center & Hotel, located on the beautiful, historic campus of the University of Georgia in Athens, Georgia, provides innovative lifelong learning opportunities that develop intellectual and human potential. A total living and learning environment, the Georgia Center includes a 200-room hotel, restaurants, banquet areas, conference rooms, auditoriums, a fitness center, and computer lab — all under one roof. As a unit of UGA's Office of the Vice President for Public Service and Outreach, the Center brings the University's teaching, research, and service expertise to the people of Georgia and beyond! For more information, visit www.georgiacenter.uga.edu.

Special Needs:
If you require special services, facilities, or dietary considerations, contact your event coordinator, Nette Penn at 706-542-6658 or Nette.Penn@georgiacenter.uga.edu prior to July 16, 2007.

Lodging (Georgia Center Hotel):
A block of rooms is being held for your conference until 5:00 p.m. ET, July 2, 2007. Policies: (1) Tax Exemption — The State of Georgia only allows tax-exempt charges for a payment by a state-issued credit card or check or by a direct bill to a state agency (with a Georgia State Tax Exemption Certificate). (2) Lodging Cancellation — Cancel your reservation by 4:00 p.m. ET the day prior to your scheduled arrival to avoid being charged one night's room and tax. (3) At check-in, you must present your credit card or a completed credit card authorization form (for a copy, call 800-884-1381, Mon.-Fri., 8:00 a.m. to 5:00 p.m. ET). Note: The Georgia Center is a smoke-free building; all lodging rooms are nonsmoking.

Travel Information:
Athens, Georgia, is located about 60 miles northeast of Atlanta. For directions, see www.georgiacenter.uga.edu/conferences/about/directions.phtml. A parking deck is located adjacent to the Center (hourly rates, maximum $8 each 24-hour period; vehicle height limit, 7 feet). Athens is served by two airports. Athens-Ben Epps Airport offers connecting flights to and from Charlotte, NC. Hartsfield-Jackson Atlanta International Airport is located about 90 minutes southwest of Athens, with scheduled ground shuttle service and rental car service available between the airport and the Georgia Center.

Program Cancellation Policies:
(1) Full refunds are available for cancellations made by 5:00 p.m. ET, on or before July 12, 2007, will be refunded, minus a $25 processing fee. No refunds will be issued thereafter; substitutions will be allowed. (2) If a program is cancelled for any reason, the Georgia Center will not be responsible for any charges related to travel. (3) If for unforeseen and unavoidable circumstances an instructor is unable to attend, the Georgia Center reserves the right to substitute a comparable instructor.

Registration

You have several registration options:

1. Register for this event online and request a room at the Georgia Center.

Register for the event online without requesting a hotel room.

A major credit card is required for on-line registration.


2. Call either 1-800-884-1381 or (706) 542-2134 to register by telephone. Please mention you saw this web page.


3. Download a registration form and FAX it to the number on the form or mail it to the address below. You need a copy of the free Adobe Acrobat Reader to view and print this application form.


4. Mail the form to:
Estate Planning for Forest Landowners (#63170)
Attn: Conference Registration, Room 129
Georgia Center for Continuing Education
Conference Center & Hotel
The University of Georgia
Athens, GA 30602-3603


Payment of Fees
The Georgia Center for Continuing Education accepts payments for registration by cash (on-site), check (payable to the University of Georgia), and credit card (Visa, Mastercard, American Express, and Discover).


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URL: http://www.georgiacenter.uga.edu/conferences/2007/Jul/23/estate.phtml