Planned Giving
Careful planning now can result in significant, tax-efficient gifts later helping you support the causes and issues that mean so much to you.
If you are not able to make a substantial gift at this time, but eventually want to leave some or all of your estate to serve charitable needs in the Adirondacks and beyond, you might consider including ACT in your will. Any of the following may act as a charitable gift in a bequest:
- A stated dollar amount
- A specific property
- A percentage of your estate
- The remainder of your estate (after distributions to other beneficiaries)
A gift by will to ACT can be unrestricted or designated for a specific organization or multiple organizations or a field of interest.
A number of our donors have established funds during their lifetimes and add to them as circumstances allow. Many have also provided for an addition to their funds by will at the time of their death.
As an alternative to amending your current will, consider naming ACT as a beneficiary of your retirement plan. Simply contact your plan administrator for a change of beneficiary form, and designate ACT for a percentage of the assets which remain in the plan at your death.
If you make a planned or legacy gift, we would like to include you as a member of our legacy society.
Leave a Legacy
For the past few years a small group of generous people have been planning for gifts today that will provide significant benefits to Adirondack nonprofits and communities in the future through funds at the Adirondack Community Trust.
Our communities are already the beneficiary of hundreds of gifts entrusted to ACT by generous people. Sometimes such gifts go unrecognized because they come at the end of the donor's life. We have wanted to find a way to recognize these thoughtful people during their lifetime. To meet that need, we have created The Adirondack Legacy Society, a program that enables us to acknowledge this generosity and learn more about the philanthropic interests of these donors.
We will honor these special donors, by listing them as members of our Adirondack Legacy Society in our printed materials and invite them to attend periodic events. There are, however, some individuals who for various reasons prefer to remain anonymous. We will respect that preference and in no way betray that confidence.
How do I join the Adirondack Legacy Society?
Arrange your estate to leave a gift to ACT.
Common ways to do this are:
1. Bequest through your will
2. IRA/401K designation
3. Transfer ownership of Life Insurance policy
4. Charitable Trusts (life income arrangements)
i. Charitable Remainder Trust
ii. Charitable Lead Trust
iii. Charitable Gift Annuity
Estate Note/Deferred Pledge Agreement (available from ACT office)
Note: We recommend that you discuss these options with your family and with your attorney, accountant, insurance agent or financial planner as may be appropriate. You may also contact ACT's office to discuss the various ways to leave your legacy through the Adirondack Community Trust.
Bequests
You can also name an endowment fund at Adirondack Community Trust as the beneficiary of your IRA, pension plan, or life insurance policy. Charitable bequests can be designed so as to give the most favorable tax treatment to your beneficiaries.
Sample Bequest Language for consideration
If a donor is planning to create a fund by bequest, ACT suggests that the donor execute a "fund agreement." The fund agreement is a simple document spelling out how the potential gift will be used, such as supporting a favorite cause, or creating an advised fund with the donor's children as advisors. The fund agreement may be opened without making a contribution, and does not obligate the donor in any way. The donor, of course, may change his or her will at any time.
ACT Leave a Legacy brochure
