Planned Giving Leaving a Legacy
Include Utah Open Lands in your will. Make an important gift to preserve and protect nature through your will. You can name Utah Open Lands as the direct beneficiary of specific assets, a portion or percentage of your estate, or of your residual estate after payment of other bequests, or a remainder interest. Bequest to Utah Open Lands are entirely free from federal estate tax and can therefore offer substantial estate tax savings. There is no limit to the amount you can leave to Utah Open Lands or to other charitable organization in your will.
We encourage you to consult with your legal or financial advisors prior to making a planned gift to Utah Open Lands. There are many ways to make a Planned Gift to Utah Open Lands, including:
Bequests You can make a gift in your will of a specific amount for Utah Open Lands, payable from the assets of your estate or a percentage of whatever is left over in your estate after all expenses have been paid. The gift can take the form of cash, appreciated securities, closely held securities, real estate and personal property. As a benefit to the donor, an estate tax charitable deduction is available for full fair-market value of the bequested assets, and it may reduce estate taxes.
Outright gifts Gifts of cash, appreciated securities, closely held securities or tangible personal property can be made today. You may be able to receive an immediate tax deduction, avoid capital gains taxes, and provide immediate benefit to Utah Open Lands.
Charitable trusts You can set up a trust to provide diversification of investments, and possibly increased income for you or your family members. This provides you with the flexibility of a separately managed portfolio.
Benefits can include immediate tax deductions, reduced estate taxes, and the ability to accept additional gifts for the trust. The trust can be set up to benefit the work of Utah Open Lands.
Beneficiary designation Transfer ownership of paid-up life insurance policies, pension plans, or individual retirement accounts to Utah Open Lands and receive a current income tax charitable deduction and reduced estate taxes. You can also designate Utah Open Lands as the owner and beneficiary of plans requiring premiums and receive an income tax deduction on those premiums. Additionally, you can make Utah Open Lands the contingent or final beneficiary in the case that primary beneficiaries pre-decease you.
Why a planned gift? A planned gift is an excellent option to help Utah Open Lands carry out its mission while ensuring your own financial needs are met. Planned gifts allow you to take advantage of tax benefits associated with charitable giving. This often allows you to make a larger gift than would otherwise be possible. You can benefit through reduced capital gains, estate and income taxes. When considering a Planned Gift to Utah Open Lands, you should be familiar with all the ways that gift can be made, including bequests, trusts and gifts of real estate or retirement benefits. We encourage you to consult with your legal or financial advisors prior to making a planned gift to Utah Open Lands.
Stock gifts Ownership of appreciated stock may be transferred to Utah Open Lands, and you may be able to receive a charitable income tax deduction. Utah Open Lands is free to sell the stock and benefit from the entire sale proceeds.
Contact your legal and financial advisors for specific information on your potential planned gift, or contact Utah Open Lands’ executive director, Wendy Fisher, at either 801-463-6156 or Wendy@UtahOpenLands.org