Leave a Legacy
The Crested Butte Land Trust owes its success to the generosity of all of the many individuals who have supported our conservation efforts over the years. Individuals are the Crested Butte Land Trust’s single most reliable source of funds.
Wills and Retirement Plans
A profound and effective means of benefiting the Crested Butte Land Trust is to name it as a beneficiary in your will. You can specify a dollar amount, certain assets, or a percentage of your estate. You can also name the Crested Butte Land Trust as a beneficiary of your retirement plan. 401Ks and Individual Retirement Accounts are popular and effective saving vehicles. If you name the Land Trust as a beneficiary in the event of premature death, none of the asset is subject to tax.
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Charitable Remainder Trust
Creating a charitable remainder trust can provide a substantial deduction on your income taxes and a reduction in estate taxes. These trusts are often created with properties (real estate or stock), which have a large capital gain. The donor creates the trust and receives back income of at least 5% for life or a term of years, and no capital gains taxes are paid. At the end of the life term or term of years, the property is distributed to the Crested Butte Land Trust for its conservation work.
Charitable Lead Trust
By using the charitable lead trust estate tool, you may provide valuable income to the Land Trust now, while holding onto the assets you prefer to gift to your heirs. This is a great way to help the Land Trust presently and to see the fruits of your gift during your lifetime, while preserving the trust property for your heirs.
Reserved Life Estate
Many of our residents here in Crested Butte enjoy the freedom a second home offers. One way to reduce your estate for tax planning purposes is to make a generous gift of your home to the Land Trust with the caveat that you retain the right to lifetime use and enjoyment. The donor receives income tax benefits in the year of the gift.
Life Insurance
Naming the Crested Butte Land Trust as the beneficiary of your life insurance policy is an easy way to make a sizable gift you may not have thought possible. When you irrevocably sign over ownership of your policy to the Land Trust, you will receive an immediate charitable deduction (usually very close to the policy’s cash value).
Conservation Easement
If you donate a conservation easement, the taxable value of your existing land within the estate is significantly reduced, in many cases allowing agricultural or recreational land to remain in the family without significant tax consequences.
Gifts of Real Estate
The Crested Butte Land Trust encourages gifts of real estate. Whether you have land to donate for its environmental or conservation value, or land that we can sell or trade to raise funds to preserve critical open space, it is all valuable to the Land Trust. This is a gift than can be given during life or bequeathed to the Land Trust to reduce the value of your estate.
Before considering any of these choices, please meet with your legal and financial advisors. If you have any questions or would like additional information about contributing to the Crested Butte Land Trust, please email Ann Johnston, the Executive Director, at director@cblandtrust.org
