Support the Ridgefield Library: Planned Giving

Using a charitable trust to donate to the Ridgefield Library is a strategic way to provide support while potentially receiving tax and estate planning benefits. There are two common types of charitable trusts: charitable remainder trusts (CRTs) and charitable lead trusts (CLTs). In a CRT, the donor transfers assets into the trust, which provides income to the donor or other beneficiaries for a set period of time, after which the remaining assets go to the designated nonprofit (i.e. the Ridgefield Library). In a CLT, the nonprofit receives income from the trust for a set term, and the remaining assets eventually pass to other beneficiaries, such as the donor’s heirs. By setting up a charitable trust, donors can reduce their taxable estate, avoid capital gains taxes on appreciated assets, and provide long-term support to their chosen charity in a structured and meaningful way.

Assigning the Ridgefield Library as the beneficiary of a life insurance policy is a simple yet impactful way to make a lasting gift. To do this, simply contact your insurance provider and request a beneficiary designation form. On the form, list the Ridgefield Library Association, 472 Main Street, Ridgefield, CT 06877 and FEIN #06-0692378 to ensure accurate processing. You can designate the Ridgefield Library as the sole beneficiary or as one of several beneficiaries, specifying the percentage each should receive. This type of planned gift allows you to make a substantial donation in the future without affecting your current financial situation, and it may also offer potential tax advantages for your estate. Always consult with a financial advisor or estate planning professional to align your gift with your overall financial and philanthropic goals.

To discuss making a legacy gift to the Ridgefield Library, please contact the Library's Development Director, Jane Lindenburg, at 203.438.2282 x104 or email JGLindenburg@ridgefieldlibrary.org.