Succession and Estate Planning

For many woodland owners, the goal is to keep their land healthy, productive, and in the family for generations. Succession and estate planning can help ensure that your wishes are understood and that the next generation is prepared to care for the property.

Woodland is more than an asset—it is a long-term investment that may have been managed by several generations. Without a plan, ownership can become complicated when property passes to multiple heirs, potentially making it difficult to make decisions about management, timber harvests, taxes, or future ownership.

START PLANNING EARLY

A good succession plan begins with a conversation about your goals. Consider:

• Who will own the property in the future?
• Who will be responsible for managing the woodland?
• Do your heirs understand your vision for the property?
• Should the land remain intact or could it eventually be divided or sold?
• How will property taxes, management expenses, and other costs be handled?
• What will happen if an owner becomes unable to manage the property?>

Including family members and future owners in these conversations can help avoid misunderstandings and prepare the next generation to become responsible woodland stewards. 

CREATE A WRITTEN PLAN

Your estate plan should work together with your woodland management plan. Important documents may include a will, trust, deed, or other legal arrangements that address ownership and management of the property.

A written woodland succession plan can also document:

• Your goals and vision for the property
• Management practices and timber harvest objectives
• Important property records and boundary information
• Existing leases, easements, or contracts
• Contact information for foresters, attorneys, accountants, and other professionals
• Plans for future ownership and decision-making

CONSIDER A PROPERTY DONATION

For landowners who want to ensure their woodland continues to benefit future generations, donating all or part of a property may be an option worth exploring. The Illinois Forestry Association can help landowners discuss potential property donations and connect them with appropriate resources and professionals.

If you are considering donating your woodland, we welcome you to contact the President of the Illinois Forestry Association to discuss your goals and options. We are happy to talk with you and help you explore the possibilities.

WORK WITH PROFESSIONALS

Estate and succession planning can involve legal, financial, tax, and natural-resource considerations. An attorney, tax professional, financial advisor, and professional forester can each provide valuable expertise.

Start planning early and review your plan periodically, particularly after major changes in ownership, family circumstances, finances, or your goals for the property.

The Illinois Forestry Association provides this information for educational purposes only and does not provide legal, tax, or financial advice. Consult qualified professionals regarding your individual circumstances.