Generation NEXT in “Virginia Forests” magazine
405,000 family forest landowners control 10.6 million (64%) of Virginia’s forestland. 7.1 million acres of this is owned by individuals 55 years and older. 80% of Virginia’s family forest landowners want to pass their woodlands forward to the next generation intact, in forest, and in family. But only 2% have a written succession or estate plan. This is important because multiple studies indicate that family lands are most vulnerable to being parcelized and fragmented, and ultimately out of forest use and family hands, at the point of intergenerational transfer.
The Winter 2017 issue of Virginia Forests magazine is intended to provide a primer on what forest landowners need to know in order to keep their land intact, in forest and in the family. There has been a significant increase in these discussions in recent years as a generation of Virginia’s landowners ages and realizes that dividing their land among heirs is often a poor alternative. The issue is meant to explain succession planning basics to help them address the struggles they may be having with decisions about the long term management and succession of their properties.
Here’s the link: http://www.vaforestry.org/assets/VaForests_Wtr2017.pdf
For more information:
Michael A. Santucci
Forestland Conservation Manager
Virginia Department of Forestry
Office: (434) 220-9182