The most widely chosen method of leaving a legacy gift is to remember Alaska Conservation Foundation (ACF) in a will or living trust. ACF strives to make the planning process as easy as possible, and offers several ways to leave a bequest:
Your bequest to ACF, in addition to helping to keep Alaska wild, also qualifies for a range of tax benefits depending upon the nature of the assets that you donate as well as the size and complexity of your estate. In most cases, if your estate is subject to estate taxes, your estate can benefit from an estate tax deduction. If you are transferring IRA or retirement plan assets to ACF, your estate may be able to benefit from income tax savings. Please contact your financial advisor or attorney for more information.
If you are planning to bequest real estate to ACF, it is important to discuss your intent with ACF and your family, and legal and financial advisors in advance. Depending upon such factors as location of the property, complexity of managing the property, taxes and other costs, ACF may or may not be able to accept all gifts of real estate. Additionally, if you wish to leave real estate that you want protected in its natural state, ACF can help locate a land trust in your community to ensure your wishes are carried out.
When considering which assets to pass on to family and which to give to charity through your will or living trust, be sure to work with legal and financial advisors who can help you weigh the benefits and the burdens associated with each asset. For instance, if your estate includes both retirement plan assets and appreciated stocks and bonds, consider contributing the retirement plan assets to charity and the appreciated securities to loved ones. Retirement plan and IRA assets passing to anyone other than a spouse or charity will be subject to one or more taxes, in some cases reducing the value of the assets by as much as 70 percent. Appreciated stocks and bonds, however, can in most cases be passed to loved ones, with the security receiving a “step up in basis” that removes any capital gains tax burden.
If you are drafting your will or living trust and wish to include a bequest to ACF, consult with your family, and legal and financial advisors to ensure that both family and legal concerns are addressed.
If you already have a will, you may add a bequest to ACF by having your attorney draft a codicil to your existing will. Provide your attorney with the wording below to establish an unrestricted bequest to ACF for its conservation programs and operations. (If your bequest is sufficient in size to establish a named endowment fund, ACF’s staff and legal advisor can also recommend wording to you and your attorney to aid in defining your charitable intentions).
I (we) give, devise, and bequeath _________ [specific asset, lump sum, or residual percentage] to the Alaska Conservation Foundation, Anchorage, Alaska, to be used for its charitable purposes [or describe specific purposes if so desired], which includes protecting the integrity of Alaska’s ecosystems and promoting sustainable livelihoods for Alaska’s communities and people.
Before finalizing any bequest please consult with ACF and your professional advisors to ensure that ACF can carry out your charitable intentions and can say thank you (such discussions are kept strictly confidential).
The information provided on this website is for general educational and public benefit purposes. Concepts described are effective only when used as part of an overall, carefully considered estate and financial plan. Inappropriate application of these concepts can have negative consequences. Anyone viewing this material is strongly encouraged to seek counsel from a qualified legal, accounting, and/or financial advisor prior to applying any of the information and ideas presented within these web pages to his or her own particular situation.