Other Ways to Give
CHARITABLE REMAINDER TRUSTS
A charitable remainder trust can be created as a vehicle that pays you or your chosen beneficiary income for life, or for a fixed term, or both. After the term's completion, the remaining property passes to a charitable beneficiary such as a fund at Adirondack Community Trust, or another charity of your choice. This flexibility allows you greater spendable income and reduced taxes during your lifetime.
CHARITABLE LEAD TRUST
This vehicle is unlike the charitable remainder trust in that income first goes to the charity for a fixed period with the property later reverting to you or your beneficiary. This trust is often used as part of an estate plan.
REAL ESTATE/LIFE ESTATES
You may deed your home or property to Adirondack Community Trust and retain the right to live there for the rest of your life. This allows you to take a charitable deduction for the current value of the remainder of the property after death, and thereby avoid any capital gains tax. When the life estate ends, the real estate is sold and proceeds are used to support funds at Adirondack Community Trust or any of your favorite charities.
Life insurance provides a simple way for you to give a significant gift to charity with tax benefits that can be enjoyed for a lifetime. Check with Adirondack Community Trust staff for more information on how insurance policies can further your philanthropic goals.
For more information about charitable giving through the Adirondack Community Trust, call Cali Brooks at (518) 523-9904 or e-mail Cali@GenerousACT.org