Preserving land in perpetuity carries with it the responsibility of stewarding the land we have worked so hard to conserve. The South Kingstown Land Trust is proud to announce that some of our most visionary supporters have chosen to leave a legacy to protect this land by including SKLT in their estate plans. Members of EverGreen provide the foundation for our long-term success.
Becoming an EverGreen member demonstrates a profound commitment to SKLT’s mission and assures its financial stability. You too can leave a lasting gift to protect South Kingstown’s open space in perpetuity. Future generations will be grateful to you for having the vision to preserve this beautiful land. If you have included SKLT in your estate plans, please let us know so we may thank you for your generosity and welcome you as an EverGreen Member.
Please consider leaving SKLT a legacy of your own. To learn more contact us at 401-789-0962 or email@example.com.
Bequest Through a Will or Trust. The most popular and simplest way to make a legacy gift is under your Will or Trust. You can provide a specific dollar amount, a percentage, a residual amount, real estate, or tangible property to SKLT. This provision can be made through a new Will or Trust or added to a codicil or amendment to your existing document. The following sample language may be used in a codicil to your Will:
“I give to the South Kingstown Land Trust, its successors and/or assigns, currently at 17 Matunuck Beach Road, South Kingstown, RI 02879, [X% of the rest, residue or remainder of my estate], [all of the rest, residue or remainder of my estate], [the sum of X dollars] for its land conservation work.”
A simple codicil may be attached to your Will at no cost. It need only be signed and dated by you and forwarded to your attorney.
Life Insurance. SKLT may be named as the sole, partial, or contingent beneficiary of a new or existing policy. Also, a paid-up policy may be donated to the Land Trust as the owner and sole beneficiary. The gift of an insurance policy can result in a tax deduction at the time of your gift and, if you continue to pay the premiums on the policy, such payments may also be deductible. This also reduces the size of your estate and thus the tax obligation to your heirs.
Retirement Plan Assets. Assets accumulated in pensions, profit-sharing plans, 401(k)s, and IRAs often constitute a substantial portion of your assets. These assets are includable in your taxable estate and are also considered taxable income to your beneficiaries (subject to certain limited offsetting deductions). When left to SKLT, retirement plan assets can escape both income and estate taxation.
Charitable Remainder Trust. This trust vehicle provides you with lifetime income, with funds becoming available in the future for SKLT’s needs. Remainder trusts provide you with an income tax deduction in the year the transfer is made while reducing your future estate tax liability.
Charitable Lead Trust. This trust vehicle provides annual income to SKLT during your lifetime, with the principal reverting to you or your heirs after the term of the trust. Lead trusts may reduce or eliminate estate taxes depending on the term of years you choose, the percentage determining the yearly payment to SKLT, and applicable federal interest rates at the time of the gift.
There are other ways that you can donate to South Kingstown Land Trust. With any estate planning, it is suggested that you confer with your family lawyer or trusted consultant.