Bequests are one of the easiest ways to make a gift to Texas Land Conservancy. A bequest directs money or other property to go to specified individuals or organizations upon your death. Unlike some other planned giving options, bequests allow you to change your mind at any time. Property left to charities (such as Texas Land Conservancy) is deductible from your taxable estate and may result in substantial tax savings.
When you make a planned gift, you automatically become a member of TLC’s Legacy Circle and join a community of Texans who have already made a commitment to enhancing the quality of life through land conservation. Legacy Circle members are invited to and honored every year at our annual fall dinner for members of the Ned Fritz Society – those donors who donate $1,000 or more each year to Texas Land Conservancy.
“Dorothy and I have truly enjoyed our involvement with TLC and the partnership that has developed through placing a conservation easement on our ranch. When it came to designating beneficiaries in our will, it was an easy decision to include TLC. Our hope is that this generous gift will ensure a lasting legacy.”
-Chuck Snakard, long time TLC member and owner of Chalk Mountain Ranch
Over the years TLC has been the beneficiary of numerous planned gifts, whether it is land, life insurance policies, stocks, or cash. To join the TLC Legacy Circle or for more information about planned giving, please contact Maren McLaughlin-Klotz.
IN YOUR WILL OR LIVING TRUST
Below is some sample language you may use to direct a bequest of money, stocks, bonds, land, tangible personal property, or other assets to Texas Land Conservancy. We urge you to consult with your financial and legal advisers before creating a will or revocable trust.
I give, devise, and bequeath to Texas Land Conservancy, a nonprofit charitable organization with offices in Austin, Texas, the sum of $____________ (or describe any real or personal property), to be used for its general purposes.
The suggested wording for leaving all or a part of the balance of the estate after debts, burial costs, probate expenses, and specific bequests have been satisfied might be:
I give, devise, and bequeath to Texas Land Conservancy, a nonprofit charitable organization with offices in Austin, Texas, all (or ____%) of the rest, residue, and remainder of my estate, to be used for its general purposes.
IT HELPS TO INFORM US
We encourage you to share your estate plans with us. This helps us to better assess our financial picture and make informed decisions. Contact Maren McLaughlin-Klotz to start the conversation at 512.301.6363. We promise to honor any request for privacy.
IF A BEQUEST INVOLVES REAL ESTATE
It is very important for you to meet with our staff while the will is still in preparation, so that we can discuss your intentions and determine that we can meet them. If you intend to bequeath a conservation easement, we need to verify that accepting the easement conforms to our policies and discuss what restrictions you want to see placed on the land. We will then draft the easement for you and your attorney to review. Please contact Maren McLaughlin-Klotz (512.301.6363) to learn more.
IN AN INSURANCE POLICY OR RETIREMENT ACCOUNT
It’s easy! All you have to do is contact the life insurance company or IRA provider and request a “change of beneficiary” form. Please note, if you wish to leave money to your heirs and to Texas Land Conservancy it may be better to name us as the beneficiary of your IRA and leave other assets to individuals. This is because non-spouse beneficiaries who inherit a traditional IRA must choose between two options: liquidate and pay taxes on those assets within five years of the owner’s death, or “stretch” their required minimum distributions out over their lifetime.