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Securing Your Legacy on the Land, Part 5: Best Practices of Non-Resident Landowners

In our prior four conversations, we focused on the critical topic of succession planning. We covered the subject from a range of viewpoints including management succession, family governance structures, legal entities, wealth transfer and trusts. We considered each of these issues from the standpoint of the landowner.

This fifth and concluding part in the series deals with the non-resident owner or what some call the “outside” rancher or “absentee” landowner. Some observers believe that the non-resident owner has become the dominant buyer in recent years, so it is appropriate to consider some of the issues this owner faces.

Howard Weiss, Senior Vice President and Family Office Strategist with Bank of America Private Bank, offers some important strategies and best practices for this type of owner in a Q&A with Western Landowners Alliance’s program director Hallie Mahowald.

The Western Landowners Alliance and the authors reserve all copyrights on publications posted on our website unless otherwise noted. Please contact us for reprints or for special use requests.

Redefining Conservation for the 21st Century

Our roadmap to a conservation model that works for rural America, working lands and wildlife. Conservation as usual isn’t working. We are literally losing ground and natural resources every day.…

New Mexicans Agree

New Mexico needs permanent statewide funding for agricultural and natural resources projects

Working Wild Challenge Policy Recommendations

Working lands stitch together the patchwork of land ownership that creates the character of the American West – open space, valued by both people and wildlife. Many rural communities have…

WLA’s Federal Policy Recommendations

As landowners and land managers, we recognize that well-managed lands are the cornerstones of both human communities and the ecosystems on which we all depend. We have a deep, vested…

Securing Your Legacy on the Land, Part 4: Considerations when transferring your property

How does one begin the task of planning for the transfer of a family business, real estate and farm or ranch?

Aspen Next Generation

Aspen trees and forests are especially important in the Rocky Mountains. Aspens add beauty to landscapes, foster high diversity and productivity of understory plants, provide for the habitat needs of many species of animals, and moderate fire behavior. There is a perception that aspen trees and stands are not regenerating well in southern Colorado and northern New Mexico; cohorts of trees younger than a few decades are scarce, at least in some areas. The next generation of aspen in the southern Rockies will be influenced by land use decisions, including harvesting, fire policy and management, and browsing by livestock and wildlife.

Paying for Stewardship

This guide presents some ways landowners can earn compensation for their stewardship efforts directly or indirectly—schemes sometimes referred to as payments for ecosystem services, ecosystem services markets, or conservation finance. It goes beyond description to provide illustrative case studies of these strategies at work.

Collaborative Wildlife Migration Corridor Workshops

This report provides an overview of the latest efforts towards migration corridor management in each of the three states, and reports findings from the workshops. The report summarizes the discussion by workshop participants about what is working in their state, as well as opportunities to improve migration corridor management and conservation.

Securing Your Legacy on the Land, Part 3: Alternate Ownership Structures

What factors should you consider when selecting an ownership structure for your ranch? What questions should you be sure to answer before deciding? What are differences between an LLC, a C Corporation, and an S Corporation? What are the benefits to partnership, cooperative or shared ownership structures, and what are the drawbacks? Why or when would someone choose a less common ownership structure?

Habitat Conservation Strategies for Migrating Wildlife

Landowner perspectives gained through one-on-one interviews and focus groups throughout the Upper Rio Grande region provide the foundation for the recommendations contained within this toolkit. These perspectives are shared side-by-side with concise strategies for policymakers, funders, and organizations looking to improve wildlife habitat in this dynamic trans-boundary region of Colorado and New Mexico.

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