The most widely chosen method of leaving a legacy gift is to remember the Jo Daviess Conservation Foundation in a will or living trust. JDCF strives to make the planning process as easy as possible, and offers several ways to leave a bequest:

• You can define a specific dollar amount;
• You can specify a percentage of your overall estate;
• You can leave the residual amount of your estate after all other specific bequests and obligations are met;
• You can name JDCF as a contingent beneficiary, having assets pass to the Foundation if another beneficiary should not survive you; or
• You can leave a particular asset, such as securities, real estate, life insurance, retirement account or valuable personal property.

Your bequest to JDCF 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 JDCF, 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 JDCF, it is important to discuss your intent with JDCF, 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, JDCF 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, JDCF 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 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 JDCF, 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 JDCF by having your attorney draft a codicil to your existing will. Provide your attorney with the wording below to establish an unrestricted bequest to JDCF for its conservation programs and operations. (If your bequest is sufficient in size to establish a named endowment fund, JDCF’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 Jo Daviess Conservation Foundation, Elizabeth, Illinois, to be used for its charitable purposes [or describe specific purposes if so desired], which includes protecting the integrity of Jo Daviess County’s ecosystems and promoting sustainable livelihoods for Jo Daviess County’s communities and people.

Before finalizing any bequest, please consult with JDCF and your professional advisors to ensure that JDCF 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.

For more information about legacy giving, please call JDCF Kelly Myers at 815-858-9100, or consult your financial advisor.

The Jo Daviess Conservation Foundation is a 501(c)(3) organization. Your contribution to JDCF may qualify for a tax deduction, based on your individual circumstance. JDCF’s tax identification number is 36-3913497.