A well-executed estate plan ensures that you have provided for the well-being of your loved ones. It may also reduce taxes and probate costs, so that more of the fruit of your life’s labor goes where you want it to go. While your estate plan comprises various legal and financial documents, it can also serve as a final message that reflects your personal values and leaves a lasting legacy by which your family and community will remember you.
The Community Foundation for the Greater Capital Region is the local expert in giving. Please call Mindy Derosia at (518) 446-9638 to get the information and strategies to help you reach your long-term philanthropic goals.
Your future gift can be any size, but if it is $25,000 or more you can create a permanent named fund that will grow over time while accomplishing your charitable goals and your foresight will benefit our region for generations to come. Smaller gifts will be recognized annually as a part of our Community Impact Funds.
Legacy gifts can support specific charities, address concerns such as the arts or human services, or provide scholarships.
Planned gift options include:
Charitable bequests generate much of the philanthropy at work today to make our region an even better place to live. By designating us as a beneficiary of your will or living trust you can create a permanent fund for the future. You can name a specific dollar amount, a percentage of your estate, or the remainder of it.
IRA and Retirement Plan Assets
You can name the Community Foundation for the Greater Capital Region, or your named fund at the Foundation, as the designated beneficiary of a retirement plan such as your IRA, 401(k) or 403(b). This is an effective way to make a charitable gift since it will not be subjected to either estate or income taxes.
You can make a gift of life insurance by irrevocably designating the Foundation as the owner and beneficiary of your policy. You can also name the Foundation as a partial or contingent beneficiary of a policy on your life.
Charitable Gift Annuity
A charitable gift annuity is an easy way for you to make a charitable gift during your lifetime and still receive income. You and one other person may receive immediate or deferred income through the charitable gift annuity.
To start an annuity you must:
- Be at least 65 years of age
- Make an irrevocable gift of at least $25,000
A charitable gift annuity lets you:
- Support your favorite charities and causes through the remainder of your annuity
- Receive an immediate charitable income tax deduction
- Lock into fixed, partially tax-free payments for life
- Payments are based on your current age using rates established by the American Council on Gift Annuities. You can see the entire list of suggested age-based annuity rates on the council’s website.
Charitable Remainder Trust
You can realize the tax advantages of making a gift now — especially of appreciated assets — while still receiving income from the assets through a charitable remainder trust. After providing income to you during your lifetime, the remaining assets can be used to establish a charitable fund or to contribute to an existing fund.
Charitable Lead Trust
A Charitable Lead Trust distributes income to your charitable fund for a period of years or during your lifetime. The assets then return to you or surviving family members. Lead Trusts can enable you to make a significant gift to charity and transfer assets to family members while saving taxes.
The Community Foundation for the Greater Capital Region’s Legacy Society
If you have made arrangements for a future gift through the Foundation we would like to thank you. We hope you will consider letting us know your plans so that we honor you as a member of the Foundation’s Legacy Society and introduce you to other generous community-minded people. As a Legacy Society member you are invited to exclusive special events. You can choose to be recognized publicly or remain anonymous.
To explore your planned giving possibilities contact Mindy Derosia at (518) 446-9638.