Leave a Legacy of Land Preservation
Although often overlooked, a giving option that you may want to consider is a planned gift. Most planned gifts offer tax benefits, have little or no current financial impact on you, and may result in the largest and most lasting one-time gift you ever make to the Land Trust. You can create a legacy of Land Preservation through a bequest or will, a life income gift (such as a charitable gift annuity, or a charitable remainder trust), or a gift of special assets (such as real estate, stock, life insurance, retirement accounts).
Here are some options to consider…
Transfer your mandatory IRA Distribution directly to the Land Trust of North Alabama. Are you 70.5 years or older? If so, you may be facing a mandatory minimum IRA distribution that could count toward your taxable gross income. If you transfer your distribution directly to the Land Trust as a donation, you will avoid having those funds included in your taxable income. It is a simple way for you to satisfy the requirements of your mandatory IRA distribution, while at the same time making a significant impact on land preservation.
Identify the Land Trust as a beneficiary in your will. You can name the Land Trust as a beneficiary in your will to receive a portion of your assets upon your death.
Add the Land Trust as a primary or contingent beneficiary to your life insurance policy. Do you have a life insurance policy that was purchased for a need that no longer exists? If you name the Land Trust of North Alabma as a beneficiary, we would be the recipient of death benefit proceeds from your policy. You can make a sizeable gift to the Land Trust while at the same time reducing the size of the taxable estate for your heirs.
Name the Land Trust of North Alabama as a primary or contingent beneficiary of your trust. If you have a trust, you can name the Land Trust as a beneficiary. This allows you to dictate the terms of charitable disbursements after your death and will help your heirs avoid the probate process.
If you are interested in learning more, please contact Hallie Porter at 256-534-5263 or firstname.lastname@example.org. If you have already named the Land Trust of North Alabama as a beneficiary in your estate planning, please let us know. We would like to thank you now!