LIFETIME CHARITABLE PLANNING
For people who want to make a difference!
Orange County Trust Company can serve as your one-stop financial solution for the fiduciary services associated with planned giving techniques, including investment management.*
You can bank on us. Founded in 1892, Orange County Trust Company has the resources to effectively deploy your estate plans. Working with your professional advisors, the Bank offers unparalleled services and back office support.
You can target your estate gift to Unrestricted Funds, Educational Programming, Technology Enhancements, a Named Special Endowment, or maintain an annual gift in perpetuity.
Four Popular Estate Planning Tools
- BEQUESTS. Name a beneficiary in your will by designating a specific amount, percentage, or share of the residue of your estate. Bequests can be made in the form of a specific dollar amount or of an asset such as a house, farm, securities or collectibles.
- LIFE INSURANCE. Name an organization as the beneficiary of all or part of your policy. When you make them the owner of the policy, you may be eligible for a tax deduction. If the policy is not fully paid, the charity can make the premium payments with the donor reimbursing the charity in the form of an annual gift which may be claimed as a tax deduction.
- CHARITABLE REMAINDER TRUST. This gift vehicle allows a donor to transfer cash securities, as well as personal or real property to the beneficiary in the form of an irrevocable trust. In return, the donor receives a pre-determined income for life. Upon your death, the remainder goes to your organization in its appreciated form. Tax benefits can include avoidance of capital gains taxes on the asset and a tax deduction equal to the full value of the property as determined by law.
- CHARITABLE LEAD TRUST. Create a charitable irrevocable trust that pays fixed or variable income to the organization for a specific term of years, while retaining the principal for your heirs. Tax incentives can include an ongoing tax deduction and reduce estate and gift taxes when the assets pass to the beneficiaries of your estate.
To find out more about making a planned gift, with our administrative assistance, contact our Trust & Investment Division at 845-341-5030.
*Trusts & Investments not FDIC or bank insured, may lose value.