LEAVE a Lasting Legacy

The most common way people remember Sonoma Land Trust in a will or living trust is through a charitable bequest. You do not have to rewrite your current documents. You simply add an amendment, called a codicil, to your will or living trust. Here is some suggested language you can have your attorney review:

“I give, devise and bequeath to Sonoma Land Trust (tax I.D. #51-0197006), located in Santa Rosa, California, the sum of ________________________________ dollars ($ _______________) (Or state a percentage of your estate, or describe real or personal property, including exact location) for the benefit of its general purposes (or specify the Sonoma Land Trust program you wish to support).”
Your bequest is entirely under your control during life and becomes irrevocable only at death. If you have questions about bequests, please work with your financial advisor or contact Sonoma Land Trust Planned Giving Manager Camille Matson at (707) 582-8950 or camille@sonomalandtrust.org

Upon completing your bequest, we will be honored to enroll you in Sonoma Land Trust’s Legacy League. Please let us know of your bequest by contacting Camille Matson.

Charitable gift annuities and charitable remainder trusts provide a gift to Sonoma Land Trust and income for you for life, as well as favorable tax treatments and other benefits.

A charitable gift annuity (CGA) is a simple contract between you and a charity. A portion of the income you receive for life is free of tax. Annuities work best for those 70 and older—the older you are when making this type of gift, the more income you receive. The minimum to fund a CGA is $25,000.

Charitable remainder trusts are similar to annuities and also more complex. Sonoma Land Trust can provide you with information about each of these gifts and their many options. We can also refer you to a qualified advisor to determine estimated tax and income benefits for all your estate planning-related  decisions. For more information, please contact Camille Matson at camille@sonomalandtrust.org

There are many types of legacy gifts that are simply a matter of filling out your provider’s paperwork. Here is a list of accounts where you can designate Sonoma Land Trust as a beneficiary:

• IRA or pension plan
• Life insurance
• Stocks and bonds
• Savings / checking accounts
• Donor-advised fund

The key to setting up these gifts is contacting the institution that holds your asset. Ask them for a beneficiary form. Some firms refer to them as a designation form, others as a “payment on death” form.

It’s important to remember that when you fill out the form, and you also have language in your will or living trust about the same asset, if there is a discrepancy, the form will take precedence over the will or trust. This is because you have a contract with the firm and that form fits within the scope of the contract. The will or trust does not.

For more information, contact Camille Matson at camille@sonomalandtrust.org