Planned Giving is a unique way to turn your assets into preserved land. There are several ways that you may take a charitable tax deduction while supporting the work of the Land Trust.
The most common gift is the donation of land. The amount of your tax deduction is based on the appraised value of the property.
Conservation Easement: See “Conserve Land – Conservation Easements”
A landowner may make a donation of land while retaining the right to use the land until death. The act of donating land now to take effect after death of the owner is called the gift of a “remainder interest” and the retained right of use is called a “life estate.” The important difference between a Conservation Easement and a remainder interest lies in the ownership. While a landowner retains ownership when donating a conservation easement, ownership is relinquished upon death with the gift of a remainder interest. In this case family land can be saved but not for future use by family members.
Gifts of Cash & Securities:
-A gift of cash is the easiest way to help support the preservation of land. The Land Trust can then place the money into a specified account that is only used for additional land purchases or maintenance of current properties.
-A gift of stocks, bonds or mutual funds that have been held for more than one year can become a substantial deduction with the donation of these assets. The value of the gift is based on the value of the security on the date of the gift.
Or, you can take a capital loss yourself. If your securities are worth less now than when you purchased them, you can sell them and contribute the proceeds. Then you can take the capital loss on your tax return, subject to limitations and a charitable deduction for the gift of the proceeds.
To learn more about planned giving to the Land Trust, please contact Judy Steckler at 228-435-9191 or e-mail to: email@example.com