Anyone can be a philanthropist by making a planned gift to the Michigan Wildlife Conservancy (MWC). All planned gifts are meaningful and some can cost nothing today, yet do so much for the future of Michigan’s wildlife habitat restoration and conservation efforts.
Four simple ways you can be a philanthropist:
Four simple ways you can be a philanthropist:
1. Make a bequest to MWC in your will or trust. Find out how easy it is to put wildlife in your plans.
A few strikingly simple words can protect wildlife when you make a charitable bequest in your will or trust.
If your circumstances change you can always update your plans. Here are examples of MWC’s bequest language.
Residual Bequest Language:
A residual bequest comes to us after your estate expenses and specific bequests are paid:
I give and devise to Michigan Wildlife Conservancy, located in Bath, MI, all (or state a percentage) of the rest, residue and remainder of my estate, both real and personal, to be used for its general support (or for the support of a specific region).
Specific Bequest Language:
Naming Michigan Wildlife Conservancy as a beneficiary of a specific amount from your estate is easy:
I give and devise to Michigan Wildlife Conservancy, located in Bath, MI, the sum of $________ to be used for its general support (or for the support of a specific project)
Contingent Bequest Language:
Michigan Wildlife Conservancy or its affiliates can be named as a contingent beneficiary in your will or personal trust if one or more of your specific bequests cannot be fulfilled:
If (insert name) is not living at the time of my demise, I give and devise to Michigan Wildlife Conservancy, located in Bath, MI, the sum of $________ (or all or a percentage of the residue of my estate) to be used for its general support (or for the support of a specific project).
A few strikingly simple words can protect wildlife when you make a charitable bequest in your will or trust.
If your circumstances change you can always update your plans. Here are examples of MWC’s bequest language.
Residual Bequest Language:
A residual bequest comes to us after your estate expenses and specific bequests are paid:
I give and devise to Michigan Wildlife Conservancy, located in Bath, MI, all (or state a percentage) of the rest, residue and remainder of my estate, both real and personal, to be used for its general support (or for the support of a specific region).
Specific Bequest Language:
Naming Michigan Wildlife Conservancy as a beneficiary of a specific amount from your estate is easy:
I give and devise to Michigan Wildlife Conservancy, located in Bath, MI, the sum of $________ to be used for its general support (or for the support of a specific project)
Contingent Bequest Language:
Michigan Wildlife Conservancy or its affiliates can be named as a contingent beneficiary in your will or personal trust if one or more of your specific bequests cannot be fulfilled:
If (insert name) is not living at the time of my demise, I give and devise to Michigan Wildlife Conservancy, located in Bath, MI, the sum of $________ (or all or a percentage of the residue of my estate) to be used for its general support (or for the support of a specific project).
2. Realize the value of your retirement plan by making MWC a beneficiary
(Full, partial or percentage, whatever is best for you)
(Full, partial or percentage, whatever is best for you)
3. Consider a gift of life insurance your family has "outgrown" or making MWC a partial or full beneficiary of your plan
There are many ways to leverage the value of a life insurance policy so it can be put to good use for a great cause, protecting wildlife. Perhaps you've "outgrown" your policy and are thinking about cashing it in. Maybe you'd like to make MWC the beneficiary.
Here are some popular ways conservationists like you use life insurance to make a gift to MWC:
Is a Life Insurance Gift right for you?
Conservationists like you are considering using this "hidden asset" to make a significant gift to protect wildlife, and they have questions about taxes, providing for family members, sharing the benefits and other strategies.
There are many ways to leverage the value of a life insurance policy so it can be put to good use for a great cause, protecting wildlife. Perhaps you've "outgrown" your policy and are thinking about cashing it in. Maybe you'd like to make MWC the beneficiary.
Here are some popular ways conservationists like you use life insurance to make a gift to MWC:
- Name MWC the primary, contingent or co-beneficiary of a policy, whether it's term or permanent.
- Transfer ownership of a paid up policy and receive a tax deduction now, when you need it most.
- Transfer ownership of a permanent policy with premiums still owed and receive a tax deduction.
- Purchase a new policy naming MWC as the owner. Your premium payments may be tax deductible.
- Also...while a commercial annuity isn't a life insurance policy, if you bought one through an agent, you may name MWC the beneficiary of your commercial annuity.
Is a Life Insurance Gift right for you?
Conservationists like you are considering using this "hidden asset" to make a significant gift to protect wildlife, and they have questions about taxes, providing for family members, sharing the benefits and other strategies.
4. Build your gift by using real estate and personal property
When you make a planned gift you'll be welcomed into the MWC Legacy Society. If you wish to remain anonymous or change your plans, MWC will respect your privacy and contact preferences.
Gifts of real estate are a good deed for wildlife.
Real estate or valuable personal property may be given outright or used to fund other types of planned gifts. NWF is happy to consider gifts of residential, commercial and undeveloped real estate. Gifts of real estate provide a charitable income tax deduction for you, based on the fair market value of the property, with no capital gains or liability for the transfer to MWC.
Here are two important things you need to know:
A gift of real estate may be for you if...
Did you know you can...
Are you considering a gift of artwork, antiques or other personal property?
If so, please contact MWC to determine if the items can be used by MWC – a requirement for you to claim a full deduction.
Can I leave a bequest of property for MWC to preserve?
Any land given outright or bequeathed to MWC is immediately sold and the proceeds used to fund conservation programs. Michigan Wildlife Conservancy is not in a position to hold property for any reason.
What does MWC consider when evaluating potential gifts of real estate?
MWC considers the following:
What are the tax benefits of donating real estate?
You'll receive an income tax deduction equal to the appraised fair market value of the property. Donating your property may also reduce your estate costs and taxes.
To protect your interests, MWC requires you to secure an independent qualified appraisal.
When you make a planned gift you'll be welcomed into the MWC Legacy Society. If you wish to remain anonymous or change your plans, MWC will respect your privacy and contact preferences.
Gifts of real estate are a good deed for wildlife.
Real estate or valuable personal property may be given outright or used to fund other types of planned gifts. NWF is happy to consider gifts of residential, commercial and undeveloped real estate. Gifts of real estate provide a charitable income tax deduction for you, based on the fair market value of the property, with no capital gains or liability for the transfer to MWC.
Here are two important things you need to know:
- MWC will review your offer and evaluate the condition and marketability of the proposed real estate to determine if the donation is risk free and appropriate for all parties.
- The IRS requires donors of real estate to secure an independent appraisal to establish the fair market value of the property. MWC can assist you in following IRS procedures for this appraisal.
A gift of real estate may be for you if...
- You're concerned about the capital gain cost of selling a property.
- You have a property you no longer wish to maintain.
- You have a rarely or never used vacation property.
Did you know you can...
- use real estate to fund a gift that will pay you or a loved one income for life, such as a charitable gift annuity or unitrust?
- keep living in your home (or a spouse, sibling or loved one) even after donating it to MWC with a retained life estate gift?
- sell real estate to MWC below appraised market value – a transaction that's part charitable gift/part sale. This is called a charitable bargain sale.
- make an outright gift of real estate or donate a fractional interest in the property.
Are you considering a gift of artwork, antiques or other personal property?
If so, please contact MWC to determine if the items can be used by MWC – a requirement for you to claim a full deduction.
Can I leave a bequest of property for MWC to preserve?
Any land given outright or bequeathed to MWC is immediately sold and the proceeds used to fund conservation programs. Michigan Wildlife Conservancy is not in a position to hold property for any reason.
What does MWC consider when evaluating potential gifts of real estate?
MWC considers the following:
- Is the property void of any liens?
- Are there any environmental concerns with the property?
- Is the property marketable and salable within a reasonable period of time?
- Can we realize a positive net return on this property?
What are the tax benefits of donating real estate?
You'll receive an income tax deduction equal to the appraised fair market value of the property. Donating your property may also reduce your estate costs and taxes.
To protect your interests, MWC requires you to secure an independent qualified appraisal.
Michigan Wildlife Conservancy will be happy to answer any questions you might have about how you can protect wildlife by giving a meaningful gift to MWC. If you have questions and would like to discuss a gift to MWC, contact President/CEO, John Ropp at 517.641.7677 or [email protected].
Thank you for caring & thinking about the future of wildlife conservation!