LEGACY GIVING

Legacy giving is a great way to support the mission of the West Kortright Center while considering your own personal, financial, estate-planning, and philanthropic goals. Forms of legacy giving include bequests, gifts of stock, bonds or securities, gifts of real estate, and gifts of life insurance or retirement plans. By including the West Kortright Center in your will, you will help ensure the community you love and care about continues to thrive for years to come!

When you make a planned gift, you become a member of the West Kortright Center’s Legacy Society, a group of committed supporters, who are acknowledged in all our program materials.

Please let us know if the West Kortright Center is included in your estate plans so we can thank you personally for such a meaningful commitment!

If you have any questions please reach out to us directly at info@westkc.org or call the office at 607 278 5454.

There are several ways to become a Legacy Supporter. Please see below.

Will or Trust

You can simply add the West Kortright Center as a beneficiary in your will, designating a fixed amount of money, marketable securities or real estate. You may also state your bequest as a percentage of your estate. A qualified attorney should draft your will and the language of the charitable bequest. Aside from ensuring that your legacy and commitment to the West Kortright Center’s mission is established, you may also receive tax benefits. You will retain control over your assets during your lifetime and you can modify your gift at any time

Retirement Plans
Another simple way to make a planned gift is by making the West Kortright Center the beneficiary of a retirement account such as an IRA, SEP, 401(k), 403(b), or other retirement plan. This beneficiary designation can usually be accomplished by completing a beneficiary designation form either by mail or online and specifying West Kortright Center as the beneficiary of a dollar amount, a percentage, or the entire account. 

Depending on your age, you may also make IRA charitable distributions to the West Kortright Center during your lifetime.

Life Insurance
Another way to make a significant gift is to make the West Kortright Center the beneficiary or owner of a new or existing life insurance policy. If you continue to pay the premiums after the gift of the policy, you can receive an income tax charitable deduction when each premium is paid. Ask your tax advisor about claiming income tax deduction for this option, and contact your insurance company for the forms to do this.

Property

Contact the West Kortright Center to determine acceptance and disposal of assets. Some of the benefits of this option is no tax on the appreciated value of residential real property or personal property. You may receive a tax deduction for the full fair market value of the property on the date of transfer. You may make a gift of residential property, receive a tax deduction and still use the property. Consult with your tax advisor for valuation of property and determination of the amount of the deduction.

Before finalizing any charitable legacy plans, we strongly encourage you to seek advice from your legal, tax or financial advisor.

Examples of proposed bequest language (to be included in your will after consultation with your financial advisor or attorney).

General bequest for an unrestricted gift that allows the West Kortright Center to determine how to use the funds based on the most pressing needs:

 “I give to the West Kortright Center, Inc., a nonprofit organization currently located at 49 West Kortright Church Road, East Meredith, NY 13757 ___________ [written amount or percentage of the estate or description of property] for its unrestricted charitable use and purposes.

To designate your provision for a particular purpose: “I give to the West Kortright Center, Inc., a nonprofit corporation currently located  49 West Kortright Church Road, East Meredith, NY 13757  _________ [written amount or percentage of the estate or description of property]. This gift should be used for (state purpose). If the West Kortright Center determines that it is not possible (or prudent) to administer my gift as originally intended, then the West Kortright Center, Inc. may, in its sole and uncontrolled discretion, direct the use of my bequest for a purpose related as closely as possible to that stated above.”

Contingent Bequest: "​​In the event any of my beneficiaries predeceases me or disclaims any interest in _________ (describe asset or portion of estate) I give such property to West Kortright Center, Inc., a nonprofit organization currently located at 49 West Kortright Church Road, East Meredith, NY 13757 to be used as its Board of Directors in its sole discretion deems appropriate.”