Gifts-in-will and other estate contributions to CLC

 

When you make a planned gift, you leave a legacy that makes an impact. Planned gifts provide critically important capacity for CLC to continue working to protect the land we love for the generations yet to come. 

To discuss making a planned gift to CLC, please contact Craig Westcott, Director of Philanthropy, at craig.westcott@clctrust.org or 518.392.5252, ext. 222.  

You can leave a future gift to CLC in many ways, depending on what works best for you. All gifts support CLC’s mission to work with the community to conserve the farmland, forests, wildlife habitat, and rural character of Columbia County, strengthening connections between people and the land. A portion of planned gifts may be designated towards CLC’s endowment, essential for maintaining the lands we own and manage in perpetuity. 

CLC strongly recommends that you consult with your attorney, accountant, and/or financial advisor in evaluating which options might be appropriate for you and in implementing a planned gift.  

If you have made a provision for CLC in your estate plan, please let us know so that we may acknowledge your generosity.  

 

Types of Planned Gifts:  

Bequests designate a specific dollar amount or a percentage of your estate to CLC.  

A bequest is the most common type of planned gift and is made by specifying a dollar amount or percentage of your estate to leave to the Columbia Land Conservancy in your will or revocable trust. Bequests are popular because they are flexible (there is no minimum amount, and you can modify a bequest at any time without re-writing your entire will), they allow you to continue to use your assets as you see fit during your lifetime, and they are tax-deductible for federal purposes.  There are several types of bequests available. 

 

  • Specific Bequests – A specific dollar amount or percentage of your estate comes to CLC after your estate expenses are paid.  

I give and devise to Columbia Land Conservancy (Tax ID # 22-2757332), located in Chatham, NY, the sum of [$___________ or name of a specific asset] to be used for its general support [its general support or for the support of a specific program]. 

 

  • Residual Bequests – A specific dollar amount or percentage of your estate comes to CLC after your estate expenses and specific bequests are paid. 

I give and devise to Columbia Land Conservancy (Tax ID # 22-2757332), located in Chatham, NY, [all or a specific percentage] of the rest, residue, and remainder of my estate, both real and personal, to be used for [its general support or for the support of a specific program]. 

 

  • Contingent Bequests – A specific dollar amount or percentage or your estate comes to CLC if one or more of your specific bequests in your will or personal trust cannot be fulfilled. 

If (insert name of individual) is not living at the time of my demise, I give and devise to Columbia Land Conservancy (Tax ID #22-2757332), located in Chatham, NY, [all or a specific percentage] of the rest, residue, and remainder of my estate, both real and personal to be used for [its general support or the support of a specific program].

 

Life Insurance – Name CLC as the primary or contingent beneficiary of your life insurance policy. Naming CLC the beneficiary of your life insurance if you no longer need your policy is an easy way to make a significant gift while realizing tax benefits if your policy has a cash surrender value or you continue to pay the premiums.

 

Retirement Plan Assets – Name CLC as one of the beneficiaries or the sole beneficiary of your retirement plan. Naming CLC as the beneficiary of a retirement plan such as an IRA or a 401(k) can help reduce your estate’s tax burdens. These types of gifts are also popular because they are relatively easy and typically do not incur attorney fees. CLC is available to assist with language you can use when discussing changing your beneficiary with your attorney. If you choose to name CLC as a beneficiary, please let us know. 

 

Donor Advised Funds – Name CLC as one of the beneficiaries or the sole beneficiary of your Donor Advised Fund. Naming CLC as the beneficiary of a donor advised fund is a way to make a significant gift during your lifetime, or afterwards and realize significant tax benefits. These funds incur no capital gains or estate taxes, while your investment appreciates tax-free.