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Planned Giving – Leaving a Legacy
Most of us, at some point in our lives, have a compelling need to make a difference—to leave a lasting impact on the people we hold dear as well as on the world in which we live. The search for significance and a desire to plan for the future may have you pondering your own legacy. This is the perfect time to consider planned giving, which will provide a future gift to the North American Bear Center (NABC) through your financial and estate plans. Including the NABC in your long-range financial and estate plans is a wonderful way to support our mission and create your own legacy for future generations. Planned Gifts will be recognized (with your permission) on our Legacy Wall at the NABC.
People who make planned gifts to the North American Bear Center are just like you. Although they may come from a variety of backgrounds, they all have the same passion for advancing the long-term survival of bears worldwide. By joining others who have made a future financial commitment, you can be gratified knowing that by setting up your future gift, you have taken the necessary steps to establish your lasting legacy.
The NABC welcomes gifts made through various planned giving arrangments. You, with the help of your financial adviser, choose the right planned gift based on your personal circumstances and financial goals. Below you’ll find information about several basic planned gift options. You and your financial professional are welcome to call Scott Edgett, Senior Director of Operations, at 877-365-7879 or email Scott at [email protected] to discuss these or other options that best meet your specific needs. Or if you prefer, you can notify us of your intent using the Planned Giving Declaration Form (left). Simply open and complete the form, print, sign and mail it to us and we will contact you upon receipt.
To learn more about planned gift options, click on each topic below.
Bequests
A bequest to the North American Bear Center (NABC) is an easy and powerful way to give. You can transfer cash, securities, or other property to the NABC by including language in your will or living trust leaving a portion of your estate to the NABC. Remembering the NABC with a bequest from your estate will help sustain and strengthen the organization in years to come. A bequest may be also advantageous to you and your estate because:
- It costs nothing now, yet gives you the satisfaction of knowing you have provided for the North American Bear Center to continue its mission in the future
- You retain control of and use of your assets during your lifetime
- You may modify your bequest if your circumstances change
- Charitable gifts from your estate are exempt from federal estate taxes
Bequests are by far one of the easiest ways for you to insure your favorite charity is provided for into the future.
Life Insurance Beneficiary
One of the simplest ways to plan for the future is by naming the North American Bear Center as your beneficiary of a life insurance policy. This allows you to make a future donation to the NABC and provides a charitable deduction for your estate.
Please contact us about your plans so we can provide you with our information for inclusion on your beneficiary designation.
Retirement Plans
A retirement plan can be a tax-efficient and simple way of including the North American Bear Center in your estate plan, and may be one of the most tax favorable ways of distributing retirement plan income from your estate. Although you can simply add North American Bear Center as the beneficiary, we strongly suggest you obtain help from your financial adviser to assure you peace of mind that your expectations will be met. If set up properly, both your heirs and the North American Bear Center will maximize the proceeds from your estate.
Please contact us about your plans so we can provide you with the correct information to include in your plans.
Individual Retirement Account (IRA)
You may make a gift from your Individual Retirement Account (IRA) to the North American Bear Center. Under (now permanent) tax law, if you are over the age of 70½, you may transfer tax-free (up to $100,000 annually) to charity.
This may be a significant benefit to you. If you are required to take minimum annual distributions (RMD) from your IRA, but you don’t have a need for the full amount, a direct transfer to charity can provide many benefits. Ordinarily, the entire annual required minimum distribution is included in your gross income for tax purposes. If instead, you transfer a portion directly to the NABC, the transferred funds are not treated as income to you. Please consult with your financial advisor and IRA administrator for specific information about your individual IRA plan.
Securities
Do you know that giving appreciated stock you’ve held for more than a year is better for YOU and the NABC than giving cash?
You get a bigger deduction by donating stock that has increased in value since you bought it more than a year ago. If you itemize deductions, you can take a charitable deduction for the stock’s fair market value on the day you give it away! And, you avoid capital-gains taxes on the increase in value! In addition, the charity receives more than if you were to sell the stock and donate the after-tax proceeds. For securities you’ve held less than a year, your deduction is limited to what you paid for the stock, not the current value. In this case your better option may be to sell the stock and donate cash, especially if it has lost value. Your financial advisor should be able to guide you to the outcome that meets your needs.
If you wish to donate securities, please contact us so we can work with you and your advisor on the transfer.
Other Assets
If you have other assets, (closely held stock, vehicles, real property, jewelry, artwork, etc.) that you wish to donate, please contact us to discuss at 877-365-7879.
The material presented on this Planned Giving website is not offered as legal or tax advice. See full disclaimer below.
Neither the author, nor the publisher, nor the North American Bear Center is engaged in legal or tax advisory service. For advice or assistance in specific cases or whether to make certain that a contemplated gift fits well into your overall circumstances and planning, the services of an attorney or other professional advisor should be obtained.
The purpose of this website is to provide general gift, estate, and financial planning information. Watch for tax revisions. State laws govern wills, trusts, and charitable gifts made in a contractual agreement. Advice from legal counsel should be sought when considering these types of gifts.