Leaving a Legacy
There are several ways to make a significant, long-lasting gift to the Forest Preserve District of DuPage County that can provide resources for years to come.
Gift by Bequest
The easiest and most common way to make a legacy gift to the Forest Preserve District of DuPage County is through a bequest in your will. Bequests of any amount come "off the top" of your taxable estate, and tax laws provide an unlimited charitable deduction for them. You may designate the Forest Preserve District as a beneficiary in your will by using the following language:
- I give _____ percent of my estate to the Forest Preserve District of DuPage County.
- I give the remainder of my estate to the Forest Preserve District of DuPage County.
- I give $______ to the Forest Preserve District of DuPage County.
Gifts of Securities
A gift of appreciated stocks or bonds will help you avoid tax on capital gains. You are also able to deduct the full fair-market value of long-term appreciated securities.
Gift of Life Insurance
Life insurance offers a way for you to give a gift larger than otherwise possible. There are several ways to give life insurance as a gift, including the transfer of a paid-up policy, or the designation of the Forest Preserve District of DuPage County as a beneficiary.
Gifts of Real Estate
Many individuals have donated property - personal residences, farms, or undeveloped land - to the Forest Preserve District of DuPage County. Donating property can help you avoid capital-gains tax or reduce your taxable estate for tax purposes. You are able to receive a 100 percent tax deduction of the fair-market value of the property.
You are also able to donate real estate to the Forest Preserve District of DuPage County and retain a life estate that allows you to continue to live on the property for the remainder of your life. You may be entitled to a charitable deduction on your income-tax return for the year you made the donation based on the value of the remainder interest on the date you made the donation.
A conservation easement is a way to protect the natural-resource value of a piece of land while the owner maintains possession. It is a legal method that protects and sustains the conservational value of the land by limiting its use. To date, the Forest Preserve District of DuPage County has worked with property owners to protect hundreds of acres through conservation easements. Property owners who are interested in exploring conservation easements or who would like more information should contact the Forest Preserve District's Office of Land Preservation at (630) 933-7200.
Beneficiary Designations of IRAs and Other Qualified Plans
You may wish to designate the Forest Preserve District of DuPage County as a beneficiary of your IRA or other tax-qualified retirement plans. This method helps you to avoid estate taxes on the amount of the donation as well as any income tax that would have been charged if paid to an individual.
Charitable Annuities and Trusts
Many annuities and trusts allow you to make legacy gifts to the Forest Preserve District of DuPage County now while receiving immediate tax benefits and regular income for you for the remainder of your life.
For more information regarding making a future gift to benefit the Forest Preserve District of DuPage County, please view our Leaving a Legacy Brochure, or call (630) 871-6400.
While the Forest Preserve District of DuPage County believes these statements to be accurate, anyone interested in providing a planned gift should consult with an accountant, tax attorney or financial advisor.