We appreciate your interest in including the Nantucket Land & Water Council in your estate plans. If you notify us of your plans, we would be honored to include you in our Legacy Circle, either as a named or anonymous member. If you have already included the Nantucket Land & Water Council in your estate plans, thank you!
NLC Legacy Circle Members
Larry Breakiron †
Jean Haffenreffer †
Adrienne McCalley †
H. Brooks Smith
Eva Howe Stevens †
Jonathan C. Swain
By including the nonprofit Nantucket Land & Water Council in your estate plans, you are leaving a legacy and making a statement about what has been important in your life. Your gift will provide a source of continuing support for environmental action on Nantucket.
There are a variety of ways you can make a gift. The NLC has provided sample language for various forms of bequests. However, these are just suggestions. We encourage you to consult your attorney and financial advisors to make certain that your gift fits well into your overall circumstances and planning. If you’d like to discuss any of these options, please contact Development Director Michelle Whelan.
Bequests are the most common type of planned gifts. They are easy to arrange and the bequest remains in your control. You can change your mind at any time, and you can structure the bequest to leave an amount, a specific item, or a percentage of your estate to the Nantucket Land & Water Council. Your bequest is entitled to an estate tax charitable deduction for the gift’s full value.
For a Bequest of Cash
I hereby give and bequeath to the Nantucket Land & Water Council, Inc. (Federal Tax I.D. No. 51-0180597) the sum of __________________ Dollars ($__________), to be used for its general purposes.
For a Bequest of Stock
I hereby give and bequeath to the Nantucket Land & Water Council, Inc. (Federal Tax I.D. No. 51-0180597) ____ (#) shares of __________ (type of securities), to be held or sold for its general purposes.
For a Devise of Real Property
I hereby give and devise all of my right, title and interest in the real property located at _____________________________________ (street), ___________________ (town), ___________ (state), to the Nantucket Land & Water Council, Inc. (Federal Tax I.D. No. 51-0180597), to be used or sold for its general purposes.
For a Residuary Bequest
I hereby give, devise and bequeath to the Nantucket Land & Water Council, Inc. (Federal Tax I.D. No. 51-0180597) ____% of the rest, residue or remainder of my estate, to be used for its general purposes.
Real Estate Transfer with Life Estate
Alternatively, you can transfer real estate while retaining a life estate for yourself and your family.
You could name the NLC as a beneficiary of a life insurance policy, assigning a fully paid-up policy to the NLC, or transferring ownership of a policy to the NLC.
Retirement or Deferred Compensation Plans
You can gift assets to the NLC through annuities, IRAs, 401 (k) plans and other types of deferred compensation plans. NLC can be listed as a beneficiary, secondary (contingent) beneficiary or as a beneficiary of a percentage of the total value of the plan.
Charitable Gift Annuities and Annuity Trusts
You can give an irrevocable gift of cash or securities in exchange for a fixed income payment for a set term or for life. This allows for an immediate tax deduction while giving the organization the opportunity to invest and grow the funds. Whenever the annuity term is up, NLC retains the remaining funds. Annuities are often set up through Trusts. Annuity Trusts allow for significant gifts to be made while still ensuring that your income is still increased by your assets.
Charitable Lead Trusts
You can choose to make gift through a charitable lead trust such that NLC receives a fixed income stream set to a specific term length or for your lifetime. When the term ends, the remaining assets return to you or your beneficiaries. Lead trusts are a great way to help our organization diversify our funding channels increase the security of our funding, while reducing your estate taxes and still allowing for the transfer of wealth to your heirs.
CONTACT YOUR ADVISOR AND THE NLC
In all instances, we recommend that you consult with your attorney or tax advisor for the various tax benefits and restrictions that may apply to your specific situation. We are available to work with your attorney or advisor to answer questions or help arrange a planned gift to the NLC. Should you name the NLC in a planned gift, in addition to filling out an NLC bequest intention form, we would welcome a copy of the legal document or section of the document that speaks of your gift. This can help to ensure that your gift is properly processed when received and your intentions honored and that you are acknowledged as a member of our Legacy Circle in our publications and promotional materials.