8 Ways to Leave a Legacy…
It is important to schedule a meeting with your attorney and add the correct legal language to your document when updating your will. If you wish to name The Livestock Conservancy in your will or estate plan, we should be named as:
The Livestock Conservancy, Inc., tax ID #03-0270281, a nonprofit corporation established under the laws of the State of Vermont, with principal business address of 33 Hillsboro Street, Pittsboro, North Carolina, 27312.
2. Stock Gifts
This type of donation offers you an excellent opportunity for a tax deduction. The transfer of appreciated stocks may enable you to avoid the capital gains taxes you may be liable for if you sold the stocks. Please contact us for more information.
3. Life Insurance
If you have a life insurance policy, you can name The Livestock Conservancy as the beneficiary or co-beneficiary of your policy. Your insurance agent can help you with the paperwork.
4. Retirement Accounts
Like a life insurance policy, The Livestock Conservancy can be named as the beneficiary or co-beneficiary of your account. Heirs other than a spouse pay significant income taxes on inherited retirement accounts. Making a gift to The Livestock Conservancy from your retirement accounts can help limit these taxes. Request a “change of beneficiary form” from your retirement account administrator to get started.
5. Gifts of Real Estate or Personal Property
You can deed your home(s), undeveloped property, or a commercial building to The Livestock Conservancy. Also included are personal items such as automobiles, antiques, artwork, jewelry, and other treasures in your estate plan. Valuable items such as these can be bequeathed to a worthy charity like The Livestock Conservancy.
6. Charitable Remainder Trusts and Charitable Gift Annuities
A charitable remainder trust or a charitable gift annuity is an arrangement in which a donor’s assets provide a regular income stream to the donor, until that income is no longer needed. The assets of the trust or annuity are then passed on to a charity like The Livestock Conservancy.
7. Charitable Lead Trusts
A charitable lead trust is designed to reduce the beneficiaries’ taxable income by first donating a portion of the trust’s income to a charity like The Livestock Conservancy. After a specified period of time, the remainder of the trust goes to the beneficiaries. The concept is to reduce taxes upon the estate left by the deceased by donating to charities from the estate until the taxes are reduced. Once that is accomplished the estate is then transferred back to the beneficiaries.
8. Memorial Gifts
By designating The Livestock Conservancy as the beneficiary of memorial gifts in your name, your friends and family can make donations to honor your commitment to rare breed conservation. Designation may be listed in obituaries as: “Contributions may be made in _________’s memory to The Livestock Conservancy, P.O. Box 477, Pittsboro, NC 27312, or online at www.livestockconservancy.org.”
If you would like to give a gift “in memory of” please visit our memorial giving page.