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“The fundamental mission of the Conservancy really resonated with us—and the Conservancy's experience administering charitable remainder unitrusts."Charitable Remainder UnitrustA charitable remainder unitrust can provide you and/or another beneficiary with variable income for life. Moreover, since the income you receive has the potential to rise over time, your payments may provide a hedge against inflation. Learn more.Benefits of a
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A Conservation Legacy
Having hiked and traveled throughout the California landscape together, Alan and Betsy Carpenter have a sincere appreciation for nature.
The Carpenters decided to express their commitment to preserving the great outdoors by establishing a charitable remainder unitrust with The Nature Conservancy. They have been strong supporters of the Conservancy for many years, not only due to their love of the wilderness, but also because of their confidence in the Conservancy’s efforts to protect the places that they hold dear to their hearts.
Their interest in conservation began at a young age when the Carpenters first met in high school in rural Vermont. Betsy's father served as her early role model, having been very active in working with the Vermont government on environmental issues. Alan's interest in conservation increased in his late teens after he moved to California where he served as an apprentice to renowned environmentalist David Brower, the executive director of the Sierra Club. Together, Alan and Betsy have hiked many landscapes together—from the slopes of Half Dome in Yosemite to the bottom of the Grand Canyon.
Their Gift
When it came time to retire, the Carpenters were able to use the sale of their home to make a significant gift to the Conservancy and receive a source of income for the rest of their lives using a charitable remainder unitrust.
The Carpenters were excited about the benefits – they were able to make a gift to the Conservancy as well as support their living expenses at their retirement community. “The fundamental mission of the Conservancy really resonated with us—and the Conservancy's experience administering charitable remainder unitrusts" the couple agree.
Because their home was transferred to the trust and then sold by the trust, the Carpenters did not incur capital gains tax and received an income tax deduction for a portion of the value of the gift. With the proceeds from the sale invested in a mixed portfolio, the Carpenters receive regular, but variable income. As younger retirees, Alan and Betsy were interested in the potential for increased income over the years and the protection from inflation that a charitable remainder unitrust offers.
The Carpenters designated their generous gift to support the Conservancy's work in the Sierra Valley, where the couple often bicycled past hooded blackbirds, horned larks and fields blue with camas lilies. This place is "part of our souls' renewal and part of our backyard," says Alan. Their gift will help to ensure that future generations will also be able to experience this special place.
Since establishing their charitable remainder unitrust, the Carpenters have made an additional gift to the trust. This kind of flexibility makes charitable remainder unitrusts one of our most popular life-income gifts.
Learn more about charitable remainder unitrusts.
Image credits (left to right): © Simon Williams (View of Yosemite Valley, California.); Image courtesy of Alan & Betsy Carpenter (Alan and Betsy Carpenter).
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