Leave a Lasting Legacy with Planned Giving
Wills & Bequests
Make a lasting impact – one that lasts beyond your lifetime. You can name Cacapon & Lost Rivers Land Trust (CLRLT) in your will by creating a new will or adding an amendment to your existing will, known as a “codicil.”
A will enables you to: 1) Direct the distribution of your assets, 2) Determine how you want to provide for your heirs rather than letting state and federal laws dictate it, 3) Designate a portion of your assets as a gift to your favorite charity, and 4) Possibly reduce or eliminate certain estate taxes and court costs.
A testamentary gift to CLRLT can take the form of a:
- Cash Bequest: CLRLT receives a specified dollar amount.
- Specific Bequest or Devise of Property: CLRLT receives specified assets, such as securities, an interest in real estate property (land, residence, rental property, etc.) or tangible personal property.
- Residuary Bequest or Devise: CLRLT receives all or a percentage of the remainder of your estate after specific legacies, debts, taxes, and estate expenses have been paid.
- Contingent Bequest or Devise: CLRLT receives a gift according to the stipulations of the bequest. Such a bequest could take many forms. For example, if you outlive other named beneficiaries, then part or all of your estate would benefit CLRLT.
A bequest to CLRLT might qualify your estate for a charitable deduction equal to the entire amount of the bequest and reduce estate tax obligations for your heirs. Check with your financial advisor.
Charitable Remainder Trusts, Charitable Lead Trusts, Gift Annuities
Charitable remainder trust: One or more named beneficiaries receive income for life or for a specified number of years, after which time the assets pass to CLRLT. Through this arrangement, you can provide income to family members or friends, realize significant tax savings, and bestow important benefits to CLRLT after the trust’s termination.
Charitable lead trust: Income from the trust is paid to CLRLT for a specified number of years and thereafter passes to your heirs at a reduced estate tax cost. This arrangement substantially reduces estate and transfer taxes, allowing you to preserve a larger portion of your estate for your beneficiaries.
Life Insurance
Life insurance can be a valuable asset for making a charitable gift, especially when a policy no longer serves its original purpose. You can donate a life insurance policy without diminishing other investments or assets allotted to family members, and it can reduce your taxes.
You can use the language on this this codicil form to designate a life insurance policy.
For more information or questions, reach out to us.
Make a Transformational Impact Through Your Endowment
Use this calculator to see all the good you can accomplish with an endowed charitable fund in your name. An endowed fund gives you the power to make a difference today, helping us to tackle immediate needs and challenges. But our skillful stewardship will also ensure your endowed fund grows over time, so that it’s still making an impact for many generations to come.