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Estate Planning for Forest Landowners in Uncertain Economic and Legal Environments

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 will benefit
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.

registration fee
The fee for this course is $445, which includes instructional materials, two luncheons, and refreshment breaks. There is an $80 discount for a fee paid by check or credit card and postmarked by September 8, 2008. 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.

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.

CEU credits

  • 13.0 Continuing Forestry Education hours — Category 1
  • 13.0 Continuing Logger Education hours — Business Management
  • 14.0 Georgia Real Estate Appraisers Board credit hours will be applied for; accepted by Georgia Real Estate Commission, if approved
  • 14.0 Continuing Professional Education (CPE) hours for accountants in Georgia
  • 12.0 Continuing Legal Education credit hours will be 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 2008 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 e-mail her at 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, September 29, 2008

8:00 a.m.

Registration

8:30

Session I

  • Estate planning objectives
  • Unique aspects of timber estates
  • Adapting forest management in uncertain environments
  • Dealing with uncertainty in federal estate and gift statutes
  • Valuation of timberland for estate and gift purposes in a speculative environment

10:00

Break

10:15

Session I (continued)

12:00 p.m.

Lunch

1:30

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

3:00

Break

3:15

Session II (continued)

5:00

Adjourn



Tuesday, September 30, 2008

8:00 a.m.

Session III

  • Business organization for timberland ownership and 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)

10:00

Break

10:15

Session III (continued)

11:30

Lunch

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
  • Conservative easements to protect timberland values in an estate

2:30

Break

2:45

Session IV (continued)

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

Georgia Center Information
The Georgia Center for Continuing Education Conference Center & Hotel, located on the beautiful, historic campus of the University of Georgia in Athens, Georgia, provides outstanding educational programs and services for lifelong learners. A total living and learning environment, the Georgia Center includes a 200-room hotel, restaurants, banquet areas, conference rooms, auditoriums, a fitness center, and a 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 September 22, 2008.

Lodging (Georgia Center Hotel):
A block of rooms is being held for your conference until 5:00 p.m. ET, September 8, 2008. 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 $10 each 24-hour period; vehicle height limit, 7 feet). Athens is served by Athens-Ben Epps Airport, as well as Hartsfield-Jackson Atlanta International Airport, located about 90 minutes southwest of Athens. Scheduled ground shuttle service and rental car service is 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, September 18, 2008. No refunds will be issued thereafter; substitutions will be allowed. (2) If a course 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 in Uncertain Economic and Legal Environments (#66093)
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/2008/Sep/29/estate.phtml