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Fiduciary Tax Legislation

Administrative Release 16 - Fiduciaries, including Estates and Trusts

 

Donations of Conservation Easements

House Bill 187 (Chapter 19, Acts of 2007) and Senate Bill 219

This Act clarifies that the personal representative of an estate may donate a conservation easement on real property if the donation is authorized under the will. A fiduciary, or the trustee of a trust, may donate, or consent to the donation of, a conservation easement on real property if the donation is authorized under the governing instrument. The donation of a conservation easement on real property qualifies as a federal estate tax exclusion.

This Act becomes effective October 1, 2007 and can be applied retroactively to a conservation easement donation from an estate of a decedent who died on or after January 1, 1998.



 
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