Leave a Legacy
You can leave a legacy. No matter your means, you can leave a legacy that speaks to your love of nature. How you direct the distribution of your assets at your death conveys what you value in life. Legacy gifts to Great Peninsula Conservancy (GPC) make a strong statement about your passion for natural areas and wildlife. Legacy gifts have a tremendous impact on GPC’s efforts to protect pristine shorelines, salmon streams, evergreen forests, and wildlife-rich wetlands throughout the Great Peninsula. These lands are your legacy and they will be protected forever as a result of your foresight and generosity.
Legacy Gift Options
Legacy gifts can take several forms. You can leave a gift in your will, name Great Peninsula Conservancy as a beneficiary of your retirement plan or life insurance policy, or fund a charitable remainder trust that will let you enjoy income and tax benefits now while leaving a legacy to support GPC in the future. GPC cannot give financial or legal advice. Please consult your financial and legal advisors for advice on which option is best for you.
Bequest / Will
In your will, designate Great Peninsula Conservancy (EIN 91-1110978), located at 423 Pacific Avenue, Suite 300, Bremerton, WA 98337, as beneficiary of a portion or all of your estate. A gift made in this manner goes through probate.
Bequest of Land
GPC accepts land for resale, with the proceeds benefiting GPC’s conservation mission, and land with exceptional ecological features for permanent conservation. Before leaving land to Great Peninsula Conservancy, please speak with GPC staff to ensure we are able to accommodate your intentions for the land.
Name Great Peninsula Conservancy as beneficiary of some or all of your IRA, 401(k), or other retirement plan. A gift made in this manner avoids probate. When dividing assets among heirs and charities, financial advisors often recommend you give your appreciated stock and real estate to heirs and make charities beneficiaries of all or a portion of your (non-Roth IRA) retirement funds.
Designate Great Peninsula Conservancy as beneficiary of your life insurance policy. A gift made in this manner avoids probate.
Charitable Remainder Trust
Place cash or other assets in a trust that pays annual income to you or a loved one for life. You receive income tax benefits the year you establish the trust. After your death, Great Peninsula Conservancy receives the remainder of the trust.
GPC Legacy Society
Great Peninsula Conservancy’s Legacy Society recognizes those who make legacy gifts to Great Peninsula Conservancy. Donors are recognized during their lifetime, when their legacy gift commitment is made known to the Conservancy, and in subsequent years. Legacy donors continue to be recognized after their death. Legacy donors are asked to complete a Legacy Pledge Card. If appropriate, please also provide a copy of the document (will, retirement plan or life insurance beneficiary designation form, or trust agreement) describing your legacy gift (optional).
Benefits of Legacy Society Membership
- Legacy Society donors receive these benefits:
- Annual recognition in Great Peninsula Conservancy’s Annual Report as a Legacy Society donor.
- Invitation to an annual Legacy Society event.
SECURE Act of 2020
Changes to IRAs
Effective January 1, 2020, the federal SECURE (Setting Every Community Up for Retirement Enhancement) Act has modified many of the rules surrounding contributions to, distributions from, and transfer to the beneficiaries of Individual Retirement Accounts (IRAs). In light of those changes, this may be an ideal time to establish or revisit your estate plan to ensure that you and your beneficiaries receive the maximum benefit possible. Notable changes to the treatment of IRA’s include the following:
- Elimination of the IRA “stretch” provision – Before the passage of the SECURE Act, non-spousal account inheritors were often able to take required minimum distributions from the account over the duration of their own lifetime. Under the new law, all assets of the IRA must be distributed within 10 years of the transfer to a beneficiary. This short time frame for the distribution of the entire account value can result in large income tax burdens for children and other non-spousal beneficiaries, who often inherit during their own peak earning years.