The Lake of Bays Heritage Foundation provides assistance to residents seeking permanent protection of their lands through a land trust donation or acquisition, conservation easement or other means.

Depending on the method chosen, landowners can maintain the use and enjoyment of their property and may receive income tax and property tax benefits. A conservation easement is a voluntary agreement by which a landowner enters into a binding legal agreement with a conservation body to "conserve, maintain, restore or enhance" the significant natural features of the landowner's property by placing conditions on the use and management of the property. Attached to the title of the land, the easement is a way to protect the natural attributes of a property in perpetuity. This involves placing development limits on a property, but all other rights remain with the property owner.

A "land trust" is a legal entity set up specifically for the purpose of protecting heritage properties. By donating land to such a trust, the owner can receive a charitable tax receipt (for fair market value) for tax planning needs and also know that the land will be protected forever in its natural state. The Lake of Bays Heritage Foundation is such a Trust, as are the Ontario Heritage Trust or the Muskoka Heritage Trust. These Trusts are charitable corporations and adhere to the policies and principles of the Ontario Land Trust Alliance and hold properties throughout Muskoka. The Lake of Bays Heritage Foundation also works as a local partner to monitor sites and ensure properties are not disturbed. Conservation easements likewise are administered through a land trust.