Farm Legacy Program: Honoring the Past, Securing the Future
It is estimated nearly 300 million acres of agricultural land could change hands in the next 20 years. This amounts to one third of the land in farms in the contiguous U.S. This massive transfer of farm real estate from one generation to the next offers one of the greatest threats to farmland—especially if these farms are sold to real estate developers—but it also presents potentially one of the best opportunities for new farmers looking for land.
Over four decades, American Farmland Trust (AFT) has helped to permanently protect more than 7.8 million acres of farmland and ranchland. Through a network of regional and state offices, AFT’s expert staff works side-by-side with communities to plan for agriculture, advance effective state and federal policies, and address the most critical issues facing family farms today—including initiatives to assist next-generation farmers and women owners of agricultural land.
AFT’s national Farm Legacy initiative ensures that land remains in farming as it transitions to the next generation while improving access to land for new farmers—honoring the nation’s farming and ranching legacy and securing its future. The comprehensive Farm Legacy initiative leverages AFT’s unique position as the only national organization focusing on farmland, ranchland, and the people who steward it. The initiative involves:
- Training and Assisting: Farmers and farmland owners receive guidance on farm transfer planning, including integrating farmland protection into their future decisions.
- Advancing Policy Initiatives: Efforts such as measures to reduce capital gains taxes help facilitate successful transfers of farmland, with a focus on helping new farmers secure land.
- Forming Strategic Partnerships: Collaborations with like-minded agricultural and conservation organizations enhance the impact of our efforts.
Conservation Options
The long-term protection of your farm or ranch goes hand-in-hand with estate planning strategies that help you transition your farm or ranch to the next generation. Land protection options like agricultural conservation easements can often be integrated into farm succession, transfer, and estate planning. These strategies ensure your land remains in agriculture, generates income for retirement, and avoids or reduces capital gains, gift, and estate taxes.
Agricultural Conservation Easements
Agricultural conservation easements are deed restrictions that landowners voluntarily place on their property to prohibit specific development. These easements are structured with flexibility to support agricultural operations while limiting subdivisions and incompatible land uses. Easements can be sold or donated to a qualified conservation organization or government body.
Integrating Easements with Estate Planning
Agricultural easements can be integrated into estate planning or incorporated into a will or trust. They can serve as a catalyst for succession, transfer, and estate planning, addressing critical issues such as the impact on the farm business, land and site planning, tax implications, and the easement’s effect on succession and transfer planning.
Other Conservation Options
Other options for farm or ranch owners without successors include donating the land to a nonprofit conservation organization like AFT, establishing a charitable remainder trust or gift annuity, or creating a life estate.
Farmland Forever Society
American Farmland Trust is proud to welcome its legacy supporters to the “Farmland Forever Society,” so named because everyone who has made this contribution is making a difference in protecting agricultural land and the way of life it offers to future generations.
We are deeply grateful to the members of the Society. If you have included American Farmland Trust in your estate plans but have not yet been welcomed into the Society, please Contact Us.
Peggy Rockefeller’s Vision
Peggy Rockefeller was one of American Farmland Trust’s first visionaries and supporters. She was a bona fide cattle farmer and an ardent environmentalist. Peggy Rockefeller assembled a small group of like-minded individuals who rejected the idea that agriculture and the environment had to be separate. They believed that agriculture and the environment were inseparable, two sides of the same coin. Yet they were experienced enough to know that bridging divides was never easy—and that the best approach would be to organize around a real-world problem.
Notify AFT
Once you decide to leave AFT in your estate plans, please notify us by completing a Notification of Revocable Estate Commitment (NOREC) Form. This form is nonbinding and carries no legal authority, but it is an essential communication tool between the donor and AFT. It allows donors to provide detailed instructions on how they want AFT to use their future bequest.
Join Us
If you have already included American Farmland Trust in your estate plans, please let us know so we can welcome you into the Farmland Forever Society. Your membership is a testament to your commitment to protecting America’s farmland and ensuring a sustainable future for generations.