Bequests: A charitable bequest is one of the most common and simple ways you can leave a lasting legacy to the ESPCA.
How Do You Make a Bequest?
A bequest is one of the easiest gifts to make. With the help of an advisor, you can include language in your will or living trust specifying a gift to be made to the ESPCA as part of your estate plan.
Types of Bequests
A bequest may take many forms:
- Gift of a percentage of your estate.
- Gift of a specific dollar amount or asset.
- Gift from the balance or residue of your estate.
Benefits of Your Bequest
- Receive estate tax charitable deduction.
- Lessen the burden of taxes on your family.
- Leave a lasting legacy.
Charitable Remainder Annuity Trust
Are you interested in a fixed income and avoidance of capital gains taxes?
A charitable remainder annuity trust might be of interest.
Benefits of a Charitable Remainder Annuity Trust
- Fixed income for life, lives or term of years.
- Avoid capital gains tax on the sale of your appreciated assets.
- Charitable income tax deduction for remainder portion of your gift to the ESPCA.
Charitable Remainder Annuity Trust for Fixed Income
If you do not follow a fluctuating stock market and desire a fixed income, a charitable remainder annuity trust may provide you with the stability you desire. A charitable remainder annuity trust pays out a fixed amount each year based on the value of the property at the time it is gifted.
Do you want to leave your home or farm to the ESPCA, but also reserve the right to live in it for your life and receive immediate tax benefits?
A life estate may meet your personal and charitable goals.
How a Life Estate Works
You deed your home or farm to the ESPCA but keep the right to use the property for the rest of your life. You will be able to make a current gift and maintain use of your home or farm.
Benefits of a Life Estate
- You receive a current federal income tax deduction for the present value of the remainder interest in your home or farm.
- You preserve your lifetime use and are able to enjoy the home or farm during your life.
Life Estate Details
- The life estate can last for your life or your life and another person’s life.
- It is possible for you to make a gift of your property even though there is a mortgage upon the residence.
- You will be responsible for the maintenance, insurance and taxes on the property.
- If your life insurance policy is no longer needed or will no longer benefit your survivors consider making a gift and help further our land-grant mission.
- Make a gift of life insurance today. Did you know that you can give your life insurance policy to the ESPCA today and receive a charitable income tax deduction? You can then make deductible contributions to the ESPCA each year which we may use to pay the premiums. Proceeds of your policy can impact our community, programs and facilities.
- Designate us as beneficiary of your policy. You can also designate the ESPCA as the beneficiary of your life insurance policy. You will continue to own and can make use of the policy during your lifetime. The policy will be included in your taxable estate when you pass away, but your estate will benefit from an estate tax charitable deduction for the value of the gift to us.