Leave

Your Legacy

Your legacy can help to ensure vibrant communities for the people of the Adirondack region – today, tomorrow, and always.

A LASTING IMPACT

Join Our Legacy Family

By including ACF in your estate planning, you are forming an enduring partnership with the only community foundation serving the entire Adirondack region and providing hope and possibility to its future generations. While we can’t know what the needs of tomorrow will be, your foresight will ensure that the communities and causes you care about today will be supported beyond your lifetime.

Our team is ready to discuss your charitable interests and goals, how you can structure a gift or a bequest and where you can direct your legacy gift for maximum philanthropic impact and tax mitigation.

Contact Matt Donahue, Director of Philanthropy and Planned Giving

Contact Matt

How Can I Leave a Legacy?

There are many options for planned giving that we can help you explore. We always recommend consulting with your professional advisors as part of the estate planning process and are happy to answer any questions you might have.

Leave a Bequest
Include the Foundation in your will or trust as the beneficiary of assets you wish to donate. Committing a portion of your assets in this way can reduce taxes on your estate. You can bequeath cash, stocks, bonds, real estate, non-publicly traded or privately held stock, tangible property, or any of the possibilities described below. See our sample bequest language for your will.
Life Insurance
Pay an annual premium for a new or existing life insurance policy and designate the Foundation as the primary or contingent beneficiary. You can also gift a life insurance policy you own and no longer need – or make the Foundation the owner of a new policy for which you donate the annual premium amounts.
Designated Funds
Appreciated assets, such as privately held business interests or real estate, can result in large capital gains. Setting up a fund to be a recipient of these assets can be a tax-wise way to scale up your legacy significantly. Through a Life Estate arrangement, you can occupy a property in your lifetime, after which the property is gifted to ACF. These types of gifts must be devised in partnership with your legal/ financial advisor and approved by our gift acceptance committee.

Retirement Funds + IRAs
Name the Foundation as a beneficiary of your IRA, 401(k), or 403(b). Doing so can help to avoid income and estate taxes upon your death. Benefit your favorite causes and continue to withdraw from your plan during your lifetime.
If you are 70 ½ or older, you can make a tax-free Qualified Charitable Distribution (QCD) of up to $111,000 directly from your traditional IRA. If you are 73 or older, this gift can also satisfy your Required Minimum Distribution.
Charitable Trusts
A charitable remainder trust (CRT) ensures you have a stream of income for a designated time, after which the trust’s remaining assets are gifted to the Foundation, while a charitable lead trust (CLT) distributes a gift to the Foundation up front for a specific period, after which the remainder transfers to named beneficiaries. Both a CRT and a CLT can be set up as an annuity or unitrust, the difference being that, annually, an annuity will pay out a fixed dollar amount to the lead beneficiary and a unitrust a fixed percentage. These trusts must be set up by your financial/legal advisors.

Make a Promise

Complete a (nonbinding) Legacy Overview Form that defines the purpose of your gift and/or fund and Adirondack Community Foundation’s responsibilities. The agreement is activated when the first gift arrives.

View LEGACY OVERVIEW FORM

Contact Matt Donahue, Director of Philanthropy and Planned Giving, to explore your planned giving options.

518.523.9904

[email protected]

News & Insights