Thank you for your interest in leaving a bequest to Hill-Stead. To make your bequest, you can provide the following language to your attorney for inclusion in your will or trust:

A general bequest might read as follows:
“I give and bequeath to Hill-Stead Museum, a not-for-profit charity located in Farmington, Connecticut, (the sum of _____ dollars ($ ) (_____shares of stock) (____% of the remainder of my estate) to be used or disposed of for its general charitable purposes.” If you wish your bequest to be applied to a specific purpose, the following example might be helpful: “I give and bequeath t to Hill-Stead Museum, a not-for-profit charity located in Farmington, Connecticut (the sum of _____ dollars ($ ) (_____shares of stock) (____% of the remainder of my estate) to be used for the following purpose: (to be stated by the donor).”

If you designate a particular purpose for your bequest, inclusion of the following language will ensure that your gift will always remain productive and will help Hill-Stead respond to changing needs and conditions:
“If, in the future, it is the opinion of the Trustees and Board of Governors of Hill-Stead that all or part of the income of this fund cannot be usefully applied to such purpose, it may be used for any related purpose which in the opinion of the Trustees and Board of Governors will most nearly accomplish my wishes.”

There are some tax-saving benefits when you include a charity in your planned giving. Please note Hill-Stead Museum does not provide tax or estate planning advice, and nothing contained herein should be used as such. We advise you to consult with an independent tax advisor regarding your particular tax circumstances.

Charitable Remainder Trust (CRT)

Your goal

• Transfer appreciated property while deferring capital gains tax
• Enjoy regular income for life or a term of years
• Receive the potential benefit of tax savings from a charitable deduction
• Provide for Hill-Stead Museum in the future

How It Works

• You transfer cash or property to fund a remainder trust that pays you for a period of time or for life. The remaining balance goes to the Hill-Stead as a gift.

Your Benefits

• Charitable tax deduction
• Income for life or a term of years
• Possible income growth over time
• Defer capital gains tax

Charitable Lead Trust (CLT)

Your goal

• Provide for HIll-Stead Museum now and for a term of years
• Give cash or property to your family in the future
• Receive the benefit of potential income, gift and estate tax savings

How it Works

• You transfer your cash or property to fund a lead trust that makes a gift to Hill-Stead for a number of years. Your family receives the remainder after a term of years.

Your Benefits

• Charitable tax deduction
• Potential transfer of wealth to your family in a tax-effective manner

Life Estate Reserved

Your Goal

• Remain in your home for life
• Receive a charitable income tax deduction

How it Works

• You give your property to Hill-Stead but retain the absolute right to use the property during your lifetime.

Your Benefits

• Charitable income tax deduction
• Lifetime use of property

Bargain Sale

Your Goal

• Transfer your property (selected artwork, books and antiques are examples of gifts or personal property) and receive cash or debt relief without paying substantial taxes

Your Benefits

• Cash from sale
• Charitable tax deduction
• Receive the potential benefit of tax savings from a charitable deduction and reduced capital gain.