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Legacy Giving

Bequests and Beneficiary Designations

A bequest (see story) is a gift of property or assets to a beneficiary as defined in a will or living trust. Using assets that have appreciated in value, either for a bequest or an outright gift, can be a strategic way of making a gift.

There is some additional information available about the benefits of utilizing a charitable bequest and how bequests enable you to keep control of your assets. Sample bequest language is also available as well as a sample of a codicil or ammendment to an existing will or trust.

Working in the garden

Using funds from a retirement account to make bequests is often a good strategy. If there is a balance in your retirement account at your death, not only is there a potential income tax burden, but there may be estate taxes as well. Estimates are that taxes could eat up as much as 70-75% of retirement assets under certain circumstances. Careful planning concerning retirement funds needs to be done. Some additional information regarding retirement assets is available.

Another option to consider in making a gift is to use life insurance policies that are no longer needed or necessary. There are some different ways to make a gift of life insurance.

If you have already included Camphill Village Copake Foundation in your estate plans, please let us know by calling Nancy O’Leary at (518) 329-7924, extension 136 or by email at nancyoleary@camphillvillage.org so that we can welcome you as a member of the Legacy Circle.

Please note, individual financial circumstances will vary. The information on this site does not constitute legal or tax advice. As with all tax and estate planning, please consult your attorney or estate specialist. All material is copyrighted and is for viewing purposes only. Use of this site signifies your agreement with the terms of use. The content in this Legacy Giving section has been developed for Camphill Village and is owned by Future Focus. Please report any problems to section webmaster.