Eastern Sierra Land Trust - Legacy Giving
Planned Gifts and Estate Planning
A popular and easy method of expressing one's philanthropic wishes is through wills and bequests. Besides the tax benefits of foregoing or drastically lowering inheritance taxes, a bequest of funds to the Eastern Sierra Land Trust enables you to clearly express your wishes to family and friends while allowing for full use of your asset now. Your bequesting wishes are fully revocable, allowing for flexibility in removing bequests altogether, changing recipient organizations, or changing bequest amounts. While making sure your personal and family obligations are first met, the following steps should be taken:
- Contact your attorney for advice about establishing or amending your will to include the bequest.
- Name the Eastern Sierra Land Trust as the recipient of your bequest.
- Indicate the dollar value or the total percentage of your estate for your gift, as well as specifying assets or real estate to be distributed to the Eastern Sierra Land Trust.
- Consult with your tax and financial advisors.
For more information, please give us a call at (760) 873-4554 or read our Planned Giving Brochure.
Donating Land
You can ensure permanent protection for lands and wildlife by donating land directly to ESLT for preservation.
California leads the nation in the practice of giving real estate, known as bequeathing. Bequeathing real estate is a powerful method of giving if one doesn't have other more liquid assets. The real estate may still be enjoyed by the owner until death, at which time the property is given to a qualified 501(c)3 organization such as the Eastern Sierra Land Trust.
There are different ways to donate real estate. An outright gift of real property allows the donor to avoid capital gains taxes and take a charitable deduction on the fair market value of the property, up to 30% of the donor's adjusted gross income. The charitable deduction can be carried over a five-year period.
A real estate gift with retained life estate allows the donor to live in the property until death, at which time the property is transferred to a foundation, without going through probate. Tax deductions are calculated at the time the gift is given and are based on current interest rates and the donor's age.
If you are interested in donating property to the Eastern Sierra Land Trust, call us directly at (760) 873-4554, and consult with an attorney and certified public accountant.