Fred Safford Forestry Consultant,LLC
Providing Forest Management Services
to Owners of Timberland
A. Income Tax purposes
We can establish a basis for the value of timber.
We provide this service upon request of accountants and owners of timberlands.
If you purchase vacant land with marketable timber upon it, it is recommended that you establish its value as close to the time of purchase as possible so as to minimize any income tax or capital gains consequences. An appraisal is also recommended if you inherit timberland.
Sometimes, if the landowner was unaware that such an appraisal would have been helpful for income tax purposes, we can assist by preparing an appraisal with a retro-valuation of the woodlot.
B. Estate Valuation
If an appraisal is necessary for Estate Tax purposes, or for purposes of estate planning, we do that, too.
Oftentimes, decedents leave large tracts of land to their beneficiaries. If a sale is appropriate, we can help maximize the income for the heirs.
C. Valuation of Matrimonial Assets
Nobody wants to have to deal with divorce proceedings; however, the value of timberlands has aided in reaching matrimonial property settlements.
Perhaps the proceeds from a timber sale can be the source of the funds for one party to buy out the interest of the other party in the marital home. Maybe the value of the timber can be used to offset the value of another asset of marital property. In any case, it is good to know the true value of all marital assets in order to arrive at a fair settlement.
We would be happy to work with your attorney in a situation such as this.
D. Timber Trespasses
In the event you experience this unfortunate circumstance, we can provide you with an appraisal of the value of timber wrongfully taken from your property. Depending on the circumstances of the trespass, you MAY be entitled to triple the value of the trees taken.
We can also project the future value of trees that are too small to harvest at the time they were taken, but would have been valuable had they been allowed to grow.
If you hire an attorney to represent you in the trespass, we would be prepared work with him or her on your behalf.
Fred Safford, Forestry Consultant
4175 West Highland Parkway · Buffalo, New York 14219
716.574.6432 · email@example.com