Other Ways to Give
What will your legacy be?
Perhaps you choose to live in western Massachusetts or spend time here because the land inspires you. Maybe you feel connected to the land through family memories, the local farm where you buy food, a hiking trail, or the view of uninterrupted forest from your favorite mountain peak.
As you think about the past and ponder your vision for the future, you may be considering how you can make a significant difference in conserving what makes Massachusetts so special—its land and rural heritage.
While planned gifts take many forms, they are the result of careful planning and an intention to make a lasting gift. These could include bequests made in a will, naming FLT as a life insurance beneficiary, or using tax-wise giving options such as charitable gift annuities or remainder trusts.
Conservation supporters who have made planned gifts have had an extraordinary impact on our work. Thanks to early legacy gifts, we were able to become a secure, established land trust, better equipped to monitor perpetual easements. Proceeds from planned gifts fund our endowment, ensuring our long term success and stability.
Planned Giving
Planned Giving
The term “planned giving” refers to charitable gifts that require some planning before they are made. Planned gifts allow you to make a significant gift to the Franklin Land Trust, and may offer you current income or allow you to retain the asset for personal use during your life.
Please consult with your financial, legal and tax advisors before making any planned gift.
If you have made a planned gift to the Franklin Land Trust, or intend to do so in the future, please contact us so that we may include you as a member of our Legacy Society.
Bequests
Bequests
When you decide to leave assets in your will to support the work of the Franklin Land Trust, you are making a bequest. You may decide to leave a specific amount or a portion of your residuary estate to the Franklin Land Trust. We are able to provide your attorney with the appropriate language to include in your will. All bequests to the Franklin Land Trust can reduce federal estate taxes, and there is no limitation on the size of the gift. Please consult with your attorney and financial advisor regarding your estate tax circumstances.
Sample unrestricted bequest language to be used for a bequest to the Franklin Land Trust:
I, __________________ give to the Franklin Land Trust, Inc., with its principal offices at 5 Mechanic Street, Shelburne Falls, Massachusetts 01370, the sum of $________________ or ________% of my residuary estate (or an accurate description of securities, real estate or other property given) for its general purposes without restriction.
Sample restricted bequest language to be used for a bequest to the Franklin Land Trust:
I, __________________give to the Franklin Land Trust, Inc., with its principal offices at 5 Mechanic Street, Shelburne Falls, Massachusetts 01370, the sum of $________________ or ________% of my residuary estate (or an accurate description of securities, real estate or other property given). This gift shall be used for _____________________ (describe in broad general terms the desired purpose here).
Annuities
Gift Annuities
Charitable Gift Annuities
A Charitable Gift Annuity is a contract between you and the Franklin Land Trust. You transfer cash or negotiable securities in exchange for the promise by the Franklin Land Trust to pay a fixed payment for life to you or to a friend or family member as beneficiary. Annuity payment amounts are based on the size of the gift and the age of the beneficiary. You receive an income tax deduction at the time that you make the transfer.
Deferred Charitable Gift Annuities
You can also create a Deferred Charitable Gift Annuity to begin payments at least one year and a day after creating the annuity. The longer you defer the initiation of the payments, the more the annuity payments and your income tax deduction increase. Younger donors often prefer Deferred Gift Annuities – they can take a charitable deduction when the annuity is set up, during higher income years, and the annuity payments can begin at retirement, to supplement retirement income.
Trusts
Gift Annuities
Charitable Gift Annuities
A Charitable Gift Annuity is a contract between you and the Franklin Land Trust. You transfer cash or negotiable securities in exchange for the promise by the Franklin Land Trust to pay a fixed payment for life to you or to a friend or family member as beneficiary. Annuity payment amounts are based on the size of the gift and the age of the beneficiary. You receive an income tax deduction at the time that you make the transfer.
Deferred Charitable Gift Annuities
You can also create a Deferred Charitable Gift Annuity to begin payments at least one year and a day after creating the annuity. The longer you defer the initiation of the payments, the more the annuity payments and your income tax deduction increase. Younger donors often prefer Deferred Gift Annuities – they can take a charitable deduction when the annuity is set up, during higher income years, and the annuity payments can begin at retirement, to supplement retirement income.
Donor Advised Funds
Donor Advised Funds
Give directly from your Donor Advised Fund.
Stocks
Gifts of Stock
Gifts of Stock and other Securities
A sensible way to make an annual gift
There are distinct advantages in donating stock or other securities:
- The donor receives an income tax deduction for the full market value of the stock that is donated;
- Donors can avoid paying capital gains taxes on the appreciation of the value of the stock;
- Donors can support FLT at a lower cost to them compared to making a cash gift; and
- FLT can sell the stock without paying capital gains taxes and put the money to use protecting land for future generations.
When donating appreciated securities and real estate held long term, the donor's income tax deduction is generally limited to 30% of adjusted gross income. FLT encourages you to seek professional tax advice before making decisions about your giving plans for the year.
Transferring stock to Franklin Land Trust is simple. Your stockbroker can make a direct electronic transfer of your stock certificates to the Fidelity Investments account held by FLT. To make a gift of stock or mutual fund shares, please follow these procedures:
Gift of Stock Instructions
Contact your stockbroker. Your stockbroker can make a direct electronic transfer of your stock certificates to the account of Franklin Land Trust with the following information:
Fidelity Brokerage Services, LLC
Deliver to DTC #0226
All deliveries MUST include Account Name and Fidelity Brokerage Number:
Account Name: Franklin Land Trust, Inc.
Please contact us for our Brokerage Account Number by calling (413) 625-9151.
Gift of Mutual Fund Shares Instructions
Your broker or fund company will have its own "Transfer Form" used specifically for mutual fund shares. You will need the following information on our account:
Broker: Fidelity Brokerage Services, LLC
DTC# 0226
Account Name: Franklin Land Trust, Inc.
Please contact us for our Brokerage Account Number by calling (413) 625-9151.
The form should be mailed to:
Fidelity Brokerage Services, LLC
PO Box 5000
Cincinnati, OH 45273-8008
Notify Franklin Land Trust as soon as the transfer instructions have been given so that we can alert our stockbroker by calling (413) 625-9151
Land
Gifts of Land & Conservation Restriction
There are many ways to protect the conservation value of your property through land donations, selling your land at a bargain rate, or working with the Franklin Land Trust to establish a conservation restriction. Many of the options result in tax benefits for you and will put dedicated land stewards in charge of managing the property that you have come to love and value for generations to come.
Outright Donation
Your legacy can live on with future generations by donating land for conservation purposes. Outright donation is the best option if you do not wish to pass your land onto heirs, own property that you no longer use, own significantly appreciated property, or own a large amount of property and are concerned about estate tax burdens that you may pass on.
Donating land can provide substantial income tax deductions and estate tax benefits, while avoiding any capital gains taxes that would have resulted from selling the property. The responsibility of managing the donated property will be put in the hands of experienced land stewards. By donating your land, you will be preserving it for future generations.
Donating a Remainder Interest in Land
If you wish to continue to live on and enjoy your land, donating a remainder interest and retaining a reserved life estate may be the best option for you. While you retain the right to live on your land, you will continue to be responsible for routine expenses including maintenance fees, insurance, property taxes, and repairs. If you decide to no longer live on your property, you may rent all or part of your property in cooperation with the Land Trust. When you pass away, the Land Trust receives full title and control over the property and takes over stewardship responsibilities.
By donating a remainder interest, you may be eligible for an income tax deduction when the gift is made and still enjoy the land for your lifetime.
Donating Land by Will
If you wish to maintain ownership and control of your land, but assure its protection after your death, donating by will may make sense to you. Before donating by will, work with the Franklin Land Trust to make sure that your property fits within the scope of the land that the Land Trust is willing and able to protect.
Bargain Sale of Land
Selling your land to the Franklin Land Trust at a bargain price will protect your land and provide you with an immediate income. Essentially, you will sell your land at a price below fair market value making it affordable for the land trust while offering several benefits to you. You will receive cash, avoid some capital gains taxes, and will be entitled to a charitable income tax deduction based on the difference between the fair market value and the price it was sold to the Land Trust for.
Conservation Restrictions
Conservation Restrictions are legal agreements that permanently restrict the use of land with the goal of protecting its conservation value. Conservation Restrictions allow owners to use, sell, or pass land onto their heirs.
When donating a conservation restriction to the Franklin Land Trust, you give up some commercial, development, and industrial rights associated with a parcel of land. Due to the flexibility of restrictions, you may still be able to retain the ability to farm, build additional agricultural structures, or harvest wood. It all depends on the conservation value of the property and how the restriction is set up. Restrictions may only apply to a portion of the land, and may restrict or deny public access. If sold, future owners of the property will be bound by the restrictions terms. The Franklin Land Trust is responsible for monitoring and enforcing the terms of the restriction.
Working with the Franklin Land Trust to create a conservation restriction for your property may result in property tax savings. Sometimes Conservation Restrictions are essential tools for passing land on to your heirs. Removing a parcel of land's development potential, restrictions lower its market value, resulting in lower estate taxes. Restrictions can be donated during your lifetime or by will and may provide your heirs with the ability to keep your land intact.
Leave a Meaningful Legacy Today!
Cars
Gift Your Car
You can help our charity with your vehicle donation. Running or not, we can pick up in all 50 states! Most title and estate issues can be easily resolved.
By donating your vehicle to the Franklin Land Trust:
- We receive 70 to 80% of the net proceeds of auction vehicles.
- You receive auction sales price of your vehicle as a tax deduction.
- Avoid the possibility of receiving a low trade-in value from a dealer, or the anxiety and hassle of selling to a private party.
- This program also allows you a way to provide money even if your vehicle has mechanical problems!
- If you decide to donate your vehicle:
- It will be picked up free of charge
- It will be sold at auction or older vehicles can be sold for parts
- Proceeds will go to the Franklin Land Trust
- You will receive a receipt entitling you to a tax deduction.
Our vehicle donation program is made possible through our partnership with Donate For Charity.
When you are ready to donate your vehicle, you may call Donate For Charity toll-free at (866) 392-4483 or donate online.
Real Estate
Real Estate
A gift of real estate that has appreciated in value can be an attractive option when considering a major charitable contribution. You incur no capital gains tax on appreciated real estate given for charitable purposes, and you benefit from a charitable deduction on your income taxes. You can also donate a remainder interest in your home to the Franklin Land Trust, retaining the right to live in it for the rest of your life. This provides you with a current charitable deduction on your income taxes, and causes the property to pass automatically at your death to the Franklin Land Trust.
Life Insurance
Life Insurance Policies
You may make the Franklin Land Trust the owner or the beneficiary of your life insurance policies. A number of options are available that can result in immediate income tax deductions or future estate tax deductions.
Personal Property
Personal Property
Donations of artwork, books, equipment, collections, antiques, and other personal property are sometimes appropriate gifts to Franklin Land Trust.
Before making a gift of tangible personal property, please consult with the Land Trust to confirm that your gift can be used according to your wishes while also supporting the mission of the organization.
Gifts of tangible personal property entitle you to a significant tax deduction. If your gift is likely to be valued at more than $5,000, you must have it appraised by an independent, licensed appraiser within 60 days prior to the gift's transfer to determine the value of your deduction.
Retirement Plans
Retirement Plans
The Franklin Land Trust may also be named as the contingent beneficiary of your retirement plan. Gifts of these assets can result in significant income and estate tax benefits.
The Franklin Land Trust, Inc. is a tax-exempt organization under section 501(c)(3) of the Internal Revenue Code. EIN#22-2744488. Gifts are tax deductible as allowed by law, but only your own financial, legal and tax advisors can determine the tax implications of your gift.
Planned Giving
Join our Legacy Society Today!
Our Legacy Society members are a group of special people who have made a lifelong commitment to FLT by including it in their estate plans. They understand the importance of land conservation and want to do something that will make a real, lasting difference in this region. As a member of this group, you will have made an important decision to include FLT in your plans. Your commitment will have lasting rewards for generations to come.
Please call the Land Trust office at 413-625-9151 and ask to speak to the Executive Director, Mary Lynn Sabourin