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What is it that you love about your community, Fairfield County or wherever else your heart lies? What would you like to preserve for future generations? What would you like to change? Which causes rouse your passions?
Making a substantial gift to the Fairfield County Community Foundation through your estate may be the most realistic way to make a lasting difference in your own backyard and create a philanthropic legacy.
There are few better ways to be remembered and few better gifts to leave behind than creating possibilities and opportunities for countless generations.
A planned gift to the Foundation can offer lifetime income for you or a named beneficiary, with significant estate and income tax savings. In addition, when you choose to designate your charitable gift to the Foundation, you know that it will be used according to your wishes in perpetuity.
Since 1992, more than $30 million in planned gifts have been contributed to the Foundation. When you include the Foundation in your planned giving, you become a member of our Legacy Society, which recognizes today those who plan to make a substantial gift tomorrow.
The Foundation's staff is available to you and your professional advisor to discuss estate and gift planning interests and options. You are listed in the Foundation's annual report (unless you request anonymity), which you receive. You also receive our newsletter and are invited to our events and community gatherings.
With a charitable remainder trust, you (or someone you select) can receive income for life, knowing that whatever remains will benefit the community according to your wishes.
By transferring assets to establish a charitable remainder trust, you receive an immediate tax deduction for the present value of the gift in the year the gift is made. You also reduce or avoid capital gains taxes associated with the gifted asset. Eventually, when the trust's term is complete, the remaining assets pass on to the Foundation. Grants from the fund will be made in accordance with your charitable interests.
We accept gifts from a variety of charitable remainder trusts, including standard unitrusts, net income unitrusts, net income with a makeup provision unitrusts, and charitable remainder annuity trusts. We have the capacity and expertise to act as trustee.
A bequest permits you to shape the future of Fairfield County while retaining complete control over assets during your lifetime. Bequests can be a specific dollar amount, a percentage of an estate or what remains after other bequests are satisfied.
You may name a new fund, an existing fund, or a specific organization to receive your bequest to the Foundation. You can give cash, appreciated stock or other assets.
Bequests to the Foundation earn a full charitable deduction from estate taxes.
You can place cash or property in a trust that pays a fixed amount to the Foundation for the number of years you select. Once this period ends, the assets held by the trust are transferred to the beneficiaries you name.
If you have planned carefully for retirement, you may find that assets in IRAs and other qualified plans exceed your needs. You can designate that assets remaining in the plan after death are contributed to the Foundation. This strategy can be far more advantageous than having those assets included in a taxable estate or leaving them to heirs—who may be taxed at a cumulative rate of over 65 percent.
You can donate a life insurance policy to the Foundation for either a general purpose or specific purpose. If the policy is fully paid, the tax deduction is either the replacement value or your cost, whichever is less.
If the policy is not fully paid and you decide to contribute the premiums, those amounts become deductible as charitable contributions. In either case, you will enjoy an immediate tax deduction and substantial estate tax savings later.
Your philanthropic legacy is easy to create. Contact Sharon Reiss, Director of Philanthropic Services, at 203.750.3200.
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