The Aspetuck Land Trust Open Space Legacy Society
We often refer to Barlow Cutler-Wotton, Leonard Schine, Paul Newman, Fran Snyder and others who came before us when we talk about Aspetuck Land Trust. These are some of the people who laid the foundation of what is now Aspetuck Land Trust which now cares for over 1,800 acres in the towns of Westport, Weston, Easton, Fairfield, Redding, Wilton and Bridgeport. Even though these people no longer walk these lands, the efforts that they made to save land in their lifetimes will live on in perpetuity in the lands and resources they donated. We are eternally grateful to them and to all the others who have provided gifts to the land trust.
While many of us contribute our time, talent, and treasure to Aspetuck Land Trust it is important that we build on the efforts of those who came before us so we can save our last remaining open spaces. Even though we may never walk on the land ourselves, our legacy will remain in the open spaces we help to preserve for future generations.
To build a long-term stream of funds that will help us save more land, we would like you to consider remembering Aspetuck Land Trust in your estate plans. There are several simple ways to do this including:
- A bequest in your will
- A bequest in your trust
- Naming ASPETUCK LAND TRUST, INC as a beneficiary in your 401K, life insurance or other qualified account
If you believe that saving untouched, undeveloped land in Fairfield County is important. If you believe that you have a responsibility to protect our last remaining open spaces. If you want to have an impact on the world beyond your lifetime, then please consider making a planned gift to Aspetuck Land Trust.
WHAT IS MY NEXT STEP IF I AM INTERESTED IN A PLANNED GIFT TO THE ASPETUCK LAND TRUST?
The following information will help you set up a gift to The ASPETUCK LAND TRUST within your estate plans:
I. A gift (bequest) within your will or trust:
- If you wish to name Aspetuck Land Trust in your will or estate plan, the Land Trust should be named as:
- ASPETUCK LAND TRUST, INC a nonprofit corporation, organized and existing under the laws of the State of Connecticut, with a principal business address of P.O. Box 444, Westport, CT 06881
- Tax identification number is: 06-6088827
- Sample language for various gift types within your will or trust:
- Dollar value gift: "I bequeath the sum of X Thousand [$X,000] Dollars ASPETUCK LAND TRUST, INC …”.
- Percentage of estate gift: I bequeath Ten [10%] Percent of the residue of my estate to ASPETUCK LAND TRUST, INC …". (a residue is a percentage of the balance remaining in your estate after taxes, expenses and specific bequests have been paid)
- Marketable asset gift: “I give, devise and bequeath the following specific legacies absolutely: (specifically named item(s)) to ASPETUCK LAND TRUST, INC …”.
WHAT IF I'VE ALREADY WRITTEN MY WILL OR TRUST?
You can amend a will or trust to make a gift without rewriting the entire document. Your attorney can prepare a simple document, called a codicil, which adds a new bequest to ASPETUCK LAND TRUST, INC while reaffirming the other terms of your will. Similarly, an attorney can prepare an amendment to a revocable trust to add ASPETUCK LAND TRUST, INC as a beneficiary.
II. A gift with ASPETUCK LAND TRUST, INC named as a beneficiary within your 401K, life insurance or other qualified account:
- Ask your fund manager, human resources department, or insurance agent for a beneficiary form so you can update your beneficiaries.
- You name ASPETUCK LAND TRUST, INC as a beneficiary of all or part of your 401(k), life insurance policy or other qualified account.
- You return the form to your fund manager, Human Resources department, or insurance agent and then we hope you will let us know about your gift.
III. Other Key Points:
- Please seek legal/FINANCIAL counsel when considering CREATING or modifying your will/Estate Plans.
- BEQUESTs are DEDUCTIBLE.
- A bequest from a will or a trust distribution to ASPETUCK LAND TRUST, INC is fully deductible for federal estate tax purposes, and currently there is no limit on the deduction your estate can claim. In addition, the gift is usually exempt from state inheritance taxes.
- IT IS IMPORTANT TO REVIEW AND UPDATE YOUR WILL ON A REGULAR BASIS.
- Regardless of whether you do or do not include ASPETUCK LAND TRUST, INC in your will it is important to have a will so you, and not the courts, can determine the fate of your estate.
As the saying goes, "Life is what happens when we are busy making other plans". It's never a bad idea to review important documents, such as your will or estate plan, as well as your 401(k) and life insurance policy, so you are always prepared.
FINAL IMPORTANT POINT:
If you have made a gift, are in the process of making a gift, or have any questions about making a gift to ASPETUCK LAND TRUST, INC through your estate plans please contact Aspetuck Land Trust Executive Director David Brant at 203-331-1906 or firstname.lastname@example.org