Gift and Estate Planning: Leave a Legacy for Macon County’s Future
The Conservation Society of Macon County is a group of donors who have chosen to preserve the natural legacy of Macon County through a planned gift. While planned gifts take many forms, they are the result of careful planning and an intention to make a lasting gift. These gifts could include bequests made in a will, naming the Macon County Conservation Foundation the beneficiary of a life insurance policy or retirement plan, or using tax-wise giving options such as charitable gift annuities or remainder trusts. A plan enables you to achieve your financial and estate goals while leaving a legacy of natural areas for future generations to explore.
Conservation supporters who have made planned gifts have had a profound impact on our work. Proceeds from planned gifts fund our endowment insuring long term success and stability, insure the preservation of important natural areas in Macon County, and support educational activities.
Types of Planned Gifts
When considering a planned gift, please consult your financial advisor and the Macon County Conservation Foundation Development Office.
Bequests: Bequests are one of the easiest way to make a gift to the Macon County Conservation Foundation. A bequest is a provision in your will or living trust. It directs money or other property to go to specified individuals or organizations upon your death. Bequests can also be used to endow your annual support for the Macon County Conservation Foundation.
Retirement Plan Beneficiary: Naming the Macon County Conservation Foundation as the beneficiary of your retirement plan eliminates the income tax on your retirement plan assets and allows you to leave assets that are taxed at a lower rate to your family.
Appreciated Securities: Gifts of appreciated securities allow you to receive gift credit and income tax deduction for the fair market value of the securities, and you pay no capital gains tax.
Life Insurance Policy (New or Existing Paid-Up Policies): This option creates a gift to the Macon County Conservation Foundation that won’t draw funds from your estate and may increase your ability to make a significant gift.
Land: Your gift of land with conservation values, offers you an income tax deduction and avoids being taxed for capital gains. Please contact the Development Office before naming the Conservation Foundation as the recipient of a piece of real estate.
Charitable Gift Annuity (CGA): Charitable Gift Annuities provide you with an immediate income tax deduction and regular income payments for life. Most commonly funded with an appreciated asset that earns a low rate of return or, like land, costs you money to maintain, a gift annuity also provides the Macon County Conservation Foundation with long-term financial support.
Charitable Remainder Trust (CRT): Another form of life income gift, a Charitable Remainder Trust can provide you with an immediate income tax deduction and increased annual income. You may transfer cash or appreciated property into this independent trust and direct income interest to one or more beneficiaries. A CRT functions much like a CGA except your gift is held and managed by the trustee of your choice. You and any other beneficiaries you designate receive the interest income and upon your death, the remaining assets are donated to the charities of your choice.
Charitable Lead Trust (CLT): A Charitable Lead Trust may meet your needs if you have a large taxable estate and wish to pass on a greater inheritance to your children and grandchildren, while also providing the Macon County Conservation Foundation with immediate and sustained support. Typically, a charitable lead trust pays a specified income to Macon County Conservation Foundation for either a fixed term of years or for your lifetime while your heirs receive the balance of the trust at the time of your death.
Sample Bequest Language: I bequeath to the Macon County Conservation Foundation, Decatur, IL (the Foundation), a charitable foundation, the sum of _____________dollars ($_______), or (_____%) of my estate, or (the rest, remainder, and residue of my estate). Such bequest shall be devoted to the general purposes of the Foundation.
As you make plans for the future distribution of your assets that you have worked so hard to accumulate, thank you for remembering the Macon County Conservation Foundation. We would be happy to talk with you about your plans or answer any questions you may have. You can contact us at 217-423-7708.