Retirement Plan Assets
Do you have money saved in an employee retirement plan, IRA or tax-sheltered annuity? Each of these retirement plan assets contains income that has yet to be taxed. Your beneficiaries will owe the income tax at your death, totaling up to 35 percent, which may be reason enough to consider giving your loved ones less heavily taxed assets and leaving your retirement plan assets to charity instead.
As a nonprofit organization, the Lebanon Valley Conservancy is tax-exempt and eligible to receive the full amount and bypass any federal taxes. Income taxes can be avoided or reduced through a carefully planned charitable gift. Consider these gift options:
~ Designate the Lebanon Valley Conservancy, Inc. as the primary beneficiary for a percentage (1 to 100 percent) of your retirement plan assets.
~ Designate a specific amount to be paid to the Conservancy before the remainder is divided among family beneficiaries.
~ Make us the contingent beneficiary to receive the balance only if your loved one, as primary beneficiary, doesn’t survive you.
A conservation easement is an encumbrance creating a legally enforceable land preservation agreement between a landowner and the Conservancy, which preserves the character of the property by restricting development. The easement can protect natural resources such as farmland, scenic vistas, watersheds and wetlands. These binding legal agreements provide both land preservation and continued private ownership. Becoming part of the title of the property, such restrictions can be tailored to the landowner’s interests. Under Conservancy monitoring and enforcement, the agreement will remain in effect regardless of future ownership. Donors are advised to seek professional advice concerning the tax consequences of donations.
The Conservancy may acquire environmentally – important land for nature preserves, generally at a bargain price, which affords tax deductability to the seller.