While you are considering your 2013 income tax savings, this may also be a good time to consider long-term tax savings for your heirs by including OLT in your will. The federal estate tax’s top rate is 40% for 2013 and future years as enacted by Congress and President Obama in the American Taxpayer Relief Act. That’s a higher tax bite than the federal income tax rate! However, one needs to remember that one’s heirs WILL NOT RECEIVE THE STEP UP IN COST BASIS ON ANY INVESTMENTS from your estate, thus there will be no escaping the capital gains tax if they liquidate an asset. The only way to avoid the capital gains tax is to give the appreciated asset to a charity who can then sell it. The donor receives credit for the full market value of the donation. It definitely pays to do some advance planning with your attorney and other professional advisors, especially since estate plans can be made flexible enough to change as your life and the laws change.
We hope you will consider a charitable bequest in your will to benefit OLT while you save on estate taxes.
Share Your Bequest with Orient Land Trust
If you have included OLT in your estate plans, or would like more information about naming us as a beneficiary of a will, trust or financial account, please fill out the simple form below. If you have specific intentions please contact us by filling out this form or by calling toll-free (719-256-4315) to ensure we can fulfill your wishes in the future.
Visit our planned giving site to explore various ways to support the Conservancy and learn about The Legacy Club. Thank you for your interest in creating a lasting legacy for the natural world.