A legacy gift is an excellent way to achieve your personal financial and estate planning goals as well as your philanthropic objectives. Such a gift can even help you give more than you thought possible.
Cash, securities, and real property are the most popular assets used to fund a bequest or charitable trust gift. Real property can make a significant outright gift or a deferred gift in which the owner can remain on the property through his or her lifetime.
We can help you sort through various scenarios to see what type of gift asset and arrangement best suits your financial and philanthropic goals.
Consider the following gift arrangements:
Bequests: A charitable bequest, a simple provision in your will or living trust, would enable you to name the Golden Gate National Parks Conservancy as a beneficiary of your estate.
The suggested language for designating the Parks Conservancy in your will or trust is:
“I give _____________ to the Golden Gate National Parks Conservancy, a California nonprofit corporation, located at Fort Mason, Building 201, San Francisco, California 94123, to be used to support the general charitable activities of the Parks Conservancy.” EIN: 94-2781708.
If you are interested in making a gift for a specific purpose, please give us a call so that we can ensure that your intention can be fulfilled by the Parks Conservancy. We recommend that you consult your estate planning attorney for purposes of drafting your will and for advice on the type of bequest that best fits your financial and tax situation.
Charitable Trusts: You could consider establishing a charitable remainder trust that pays out a fixed or percentage income to you or loved ones during your lifetimes, with the remaining principal distributed to the Golden Gate National Parks Conservancy. Please contact us if you are interested in avoiding capital gains tax with the contribution of highly-appreciated assets maximizing the amount of funds ultimately going to the beneficiaries while also getting an immediate income tax charitable deduction.
The charitable lead trust, usually funded with highly-appreciated assets, would make payouts to the Parks Conservancy for a term of years, at the end of which the assets will be distributed to your heirs, at a reduced gift or estate tax.
Retirement Plan Assets: Name the Parks Conservancy a beneficiary of your retirement plan asset, including individual retirement accounts (IRAs), pension plans, profit sharing plans, 401(k) plans, and annuity plans. Because the retirement distributions are taxed as income to the beneficiary, and if your estate is subject to the estate tax, you can maximize the distributions by naming a charitable beneficiary. Contact your retirement plan administrator to designate the Golden Gate National Parks Conservancy as a beneficiary.
Life Insurance Policies: If you own life insurance but no longer need the future benefits it can provide consider naming the Golden Gate National Parks Conservancy the beneficiary of your policy.
For more information on gift arrangements, contact Audrey L. Yee, Esq., Director of Planned Giving at (415) 561-3016 or firstname.lastname@example.org.