Including the Otsego County Community Foundation in your estate plan is an easy way for you to make a significant impact on community needs and create a legacy that lasts forever.
After ensuring that your loved ones have been cared for, you can use a variety of assets to make a planned gift and accomplish your charitable goals.
Bequests: A charitable bequest to the Otsego County Community Foundation enables you to retain control over your assets during your lifetime and support the community you love later. A charitable bequest can be a specific dollar amount, a percentage of an estate, or what remains after other bequests are made.
Retirement Plans: Individual Retirement Accounts (IRAs) or other qualified retirement plans are often one of the best types of assets to leave to charity because they are taxed so heavily when left to heirs. When you leave retirement plan assets to a nonprofit organization––such as the Otsego County Community Foundation––100 percent of the gift will be available to support your charitable interests.
LEAVE A LEGACY
What is the Legacy Society?
The Legacy Society recognizes individuals and couples who have named the Otsego County Community Foundation as the beneficiary of any type of planned or deferred gift. The purpose is to acknowledge and thank those who have made these gifts and to encourage and inspire others to do the same. Members of the Legacy Society will be recognized in our publications.
Joining the Legacy Society requires two steps. First, arrange for a planned gift to the Foundation. Second, inform the Foundation by submitting the Leave a Legacy form. These forms are also available the Foundation office.
To leave a gift is easy. Bequests from a will or trust are the most common way to leave a gift to the Foundation. You can set aside a certain dollar amount, or leave a percentage of the estate or assets left over after providing for your family. You can make the Foundation the beneficiary of 401K/IRA plans or insurance policies, or establish a Charitable Gift Annuity or a Charitable Remainder Trust in favor of the Foundation. All qualify an individual or couple for membership in the Society.
Your gift will be completely confidential. We will not ask how much is being left to the Foundation. You are, however, encouraged to discuss your gifts with us to make sure we comply with your wishes, because your gift will be endowed and grants from it will be made in perpetuity. The name you choose for your Fund and your plans for its distribution will be filed confidentially. Then, you are assured that your plans will be followed exactly as you have outlined them to us. Your instructions to us can be changed at any time with a simple phone call to the office.
Thank you. We are pleased, through the Legacy Society, to recognize the people who are planning for gifts today that will provide significant benefits to our community in the future. Because of your generosity, Otsego County will continue to grow generations to come.