PLANNED GIVING

You may be surprised to learn how much you can benefit the National Trust for Scotland Foundation USA through a gift following your death. And you may be pleased to learn that such a gift can reduce the estate and other taxes which might then become due.

What do I have to leave?

Consider for a moment the assets that may be subject to your chosen disposition at death. You may think of bank accounts, securities and real estate. What about the proceeds from life insurance? IRAs, 401(k)s and other retirement accounts? The total of these amounts may be far more than you typically think of as being available to you, and may give you an opportunity to benefit the NTS to a degree you might not otherwise think possible.

What types of gifts can I make to the NTS Foundation USA?

One approach is a bequest of cash, securities or other property, which can be effective at death or upon the death of the survivor of an individual and his or her spouse. A bequest can be of a specified dollar amount or, in the alternative, can be stated as a percentage of the assets in the estate.

A second option is to name the NTS Foundation USA as the beneficiary of all or a portion of life insurance proceeds which are payable at death.

Another popular giving choice is to designate the NTS Foundation USA as the beneficiary of all or a portion of an IRA, 401(k) or other retirement account, with the transfer to be effective at the death of the donor or that of the donor and the spouse.

Tax savings

A significant advantage of gifts is that they often qualify for an estate tax charitable deduction and therefore reduce tax payments which would otherwise become due at death. Since estate and inheritance taxes can be substantial, at marginal rates often approaching the 50% level, the tax savings can be very significant.

A special advantage of an IRA or other retirement account gift is that the property from the account can pass to NTS Foundation USA in its entirety, without being reduced by income or estate taxes. Property from a retirement account which is left to children or other individuals can be subject to both income and estate tax at aggregate rates of substantially more than 50%. The net result can be that relatively little of such funds are actually available for your heirs after the tax bill is paid. If the NTS Foundation USA is named as beneficiary of the account after your death, however, the entire amount, without any reduction for taxes, can pass to your chosen beneficiary and be put to work in carrying out your wishes to protect and care for Scotland’s natural and cultural treasures.

What next?

The staff at NTS Foundation USA is happy to work with you if you would like to direct that a gift be used for a specific property or other designated purpose. In making any gift, it is important to identify The National Trust for Scotland Foundation USA by its full name, as it is the affiliate of the NTS which is recognized as a charitable organization by the Internal Revenue Service in the USA.

Your choice of how to benefit the NTS Foundation USA, and the estate and income tax implications of that gift, will depend upon your personal circumstances. You should discuss the effect of any proposed gift on your own situation with your attorney or other estate planning professional. The staff at NTS Foundation USA is available to assist you and your advisors in putting together a program which implements your plan to benefit the NTS while providing you with the tax and other benefits which may be available.

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