Estate Planning

N

nelsony

Steelhead
Forum Supporter
We are starting estate planning and my brain wants to immediately explode. We have no suitable heirs and are struggling to figure out what to do with property when the time comes. We want to make this as easy as possible for our future executor. Two things:

1. A good organization with local (Puget Sound area) connections to which I can bequeath all of my fishing gear in our will?
2. Organization that supports environmental conservation, habitat restoration, and the like that can accept a gift of real estate (our home and land that it sits on) and have capacity to sell and use the proceeds for their endeavors. We prefer supporting local efforts. We are also looking at Habitat for Humanity in this case as it appears they can handle a real estate gift and do something good with it.

We are talking 20 years (hopefully) down the road, so organizations with history of longevity is essential.

Thanks for any advice.

Dave
 
Nice bunch of questions. I will be interested in the responses.

I am much closer than you in donations to good, local groups.
 
Some possible options for your question #2. I’m not sure or not if they all accept real estate but they are all local organizations worth investigation for your donation needs.
Long Live the Kings
Coastal Cutthroat Coalition
Whidbey Camano Land Trust
Hood Canal Salmon Enhancement Group
Puget Soundkeeper Alliance
SF
 
nelsony said:
We are starting estate planning and my brain wants to immediately explode. We have no suitable heirs and are struggling to figure out what to do with property when the time comes. We want to make this as easy as possible for our future executor. Two things:

1. A good organization with local (Puget Sound area) connections to which I can bequeath all of my fishing gear in our will?
2. Organization that supports environmental conservation, habitat restoration, and the like that can accept a gift of real estate (our home and land that it sits on) and have capacity to sell and use the proceeds for their endeavors. We prefer supporting local efforts. We are also looking at Habitat for Humanity in this case as it appears they can handle a real estate gift and do something good with it.

We are talking 20 years (hopefully) down the road, so organizations with history of longevity is essential.

Thanks for any advice.

Dave
Click to expand...
1. https://pnwflyfishing.com/forum/ind...n-the-military-fishing-non-profit-game.10156/. @Jerry Daschofsky could weigh in on the longevity of the group. Also https://themayflyproject.com/, @Northern could weigh in, I think she might still volunteer with them.
2. The Nature Conservancy has a good reputation.

I think it is awesome that you are planning to make the world a better place even after you are gone!
 
A good estate planner may have some suggestions as well…and a lot can happen in 20 years law wise…it might be worthwhile to inquire now…
 
Zak said:
1. https://pnwflyfishing.com/forum/ind...n-the-military-fishing-non-profit-game.10156/. @Jerry Daschofsky could weigh in on the longevity of the group. Also https://themayflyproject.com/, @Northern could weigh in, I think she might still volunteer with them.
2. The Nature Conservancy has a good reputation.

I think it is awesome that you are planning to make the world a better place even after you are gone!
Click to expand...
I'll keep the program alive for as long as they keep it going. I run the fishing area of the PNW. But will keep it alive, probably exec if non profit shuts down.
 
What is available now and the current laws applicable now could change dramatically in 20+ years from now. Predicting what it could be is like using a crystal ball.

One may want to define your goals, desires, and requirements, place assets into some type of managed trust, so as the then current regulations, tax and estate taxes, and current availability of resources that could take maximum advantage of the donation/gift.

I would also use a legal beagle, tax expert and estate expert to review what is currently in-place is still valid every 5 years.
 
I use percentages when it comes to my estate. For example 20% to Charity 1, 40% to Charity 2, and 40% to Charity 3. Let the executor deal with selling all of your property except for specific small items (like fishing gear) and dividing the proceeds to the charities of your choice. That might be an easier way. Of course, talk to an estate professional. If you don't already have one, you might look to actec.org to help you find an estate attorney in your area.
 
Anybody that buys land and transfers it to public ownership.

Everything else is a waste of your money.
 
good idea.
i think u are going to have to figure out an executor - that can deal with all the arrangements. there is a whole mini-industry out there of these folks. once u find one, or two, or 3 - send out the names, and folks might have some experiences.
go
 
If you want to leave a environmental legacy of your life giving your funds to purchase wildlands is a gift that will last for hundreds of years.

Everything else is really temporary in its impact.

Yes, there are lots of organizations that do excellent work, but it is not as important as the purchase of land and transfer into public ownership.

Ducks Unlimited, Pheasants Unlimited, Western Rivers, Nature Conservancy, Trust for Public Lands and others that purchase lands have a huge impact for hundreds of years.

It will be more important in the years to come. We have nowhere close, nor are the public lands well distributed to hold on to the ecosystems we have today.

Look at what we have lost in our lifetimes. It is staggering.

The problem with conservation easements is that they cost 90% of the purchase price. The Forest Service refused to do easements preferring to just do outside purchase. Congress has in some cases directed the Forest Service to buy easements instead of ownership.

Here is the perfect case study of the problem with conservation easements. For a 95 million dollars the taxpayers of California got a "NO TRESPASSING" sign.

https://usbackroads.blogspot.com/2012/03/hearst-castle-san-simeon-california.html

JUST BUY IT.
 
Last edited:
This discussion is a bit old, but the topic of charitable bequests when you don't have direct heirs is something more people should plan for. For the real estate portion, large land trusts like Forterra or the Nisqually Land Trust have deep roots in the Puget Sound area and routinely handle complicated land bequests and liquidations for conservation.

My spouse and I don't have direct heirs either, so we had to figure out how to structure charitable clauses without leaving a total mess for probate. We went to the Colorado Estate Planning Law Center to draft a living trust that handles charitable distributions directly, ensuring the non-profits get the assets without a costly court process. You should definitely use a trust instead of a standard will so a trustee can sell the land and distribute the cash smoothly according to your exact guidelines.
 
Last edited:
  • Like
Reactions: Zak
You must log in or register to reply here.
Back
Top