TWP Canopy - Heal the Planet Beyond your Lifetime through your Will or Trust
*August is Make a Will Month and this is the first in a four part series about dedicating your legacy to a healthy climate future through Trees, Water & People (TWP).
Issues like climate change, Indigenous rights and economic development require a sustained investment over many years to produce lasting results. Generations of damage and degradation can’t be undone with a one year grant cycle, or with a one time gift.
That’s why TWP works with our supporters to help plan for long-term investments in climate resilience that extend beyond our lifetimes.
TWP’s Canopy is a group of our most dedicated donors, who have stated their intention to gift TWP a portion of their assets upon their death. Many of our donors do this through their will or trust, via a simple statement, like this:
“I hereby leave [specific amount, percentage, residuary amount, or asset] to Trees, Water & People, a nonprofit corporation organized and existing under the laws of Colorado, at 633 Remington Street, Fort Collins, CO 80524 and federal tax identification number 84-1462044.”
The basic difference between a will and a trust is that a will generally has to go through probate court upon one’s passing, where the courts govern the distribution of your assets. The duration, legal fees, and court fees will vary depending on the complexity of your assets and the states they are registered in, but typically take months to execute fully.
A revocable living trust requires a higher time and financial investment today, but results in a living entity to which you assign ownership of your assets (investments, real estate deeds, vehicle titles, bank accounts).
A trust is a document created between you and a trusted attorney, and is governed by the designations made in the trust document. It can become irrevocable at a time of your choosing, or upon your death, whereupon no further changes can be made. The trustee you name in the document is responsible for acting on your wishes as described in the trust document.
In either case, all gifts to 501(c)(3) nonprofit organizations are distributed tax free. Meet with your financial advisor or estate attorney to discuss including Trees, Water & People in your will or trust.
Visit www.twp.org/canopy to read about this and other options for investing in a healthy climate future, even beyond your lifetime.
