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Planned Giving - Let your legacy live on


A bequest is a written direction contained in a will, which disposes of some or all of the property controlled by the will. Through a will, it is possible to give cash, securities, life insurance proceeds, and real and personal property. It is also possible to create a trust through a will. Bequests may be used to establish memorials in honor of the donor, family members or others. Open this link for recommended language in your will.

Charitable Remainder Trust (C.R.T.)

These trusts provide the donor or other named beneficiary an income from the trust. Title to the trust passes to the organization upon the death of the last named beneficiary. These trusts can be structured to provide a fixed income or a fixed percentage of the trust’s assets.

Charitable Lead Trust

This is similar to the Charitable Remainder Trust (CRT) above. Rather than paying an income to the beneficiary, with remaining assets going to the organization, the CRT assigns from the trust an income to the organization, with remaining assets either reverting to the donor or being paid to a donor assigned designee at the end of a specific time period. A CRT may be advantageous to a donor who would like to reduce current taxable income yet retains ultimate ownership of the property.

Life Insurance

Gifts of life insurance provide a way to make a sizeable gift at a relatively low cost. Certain gifts of life insurance, such as a gift of a paid-up policy, may be considered as current, rather than deferred gifts. A gift of life insurance is made either by delivering and assigning ownership of the policy to the non-profit organization, or by naming the organization as the beneficiary. When you make an outright gift of a paid-up life insurance policy and name the organization as the irrevocable owner and beneficiary, you may claim an immediate tax deduction equal to the replacement value of the policy. You may also contribute life insurance policies, which are partially paid up and claim an immediate tax deduction equal to the cash surrender value of the policy. You may even purchase and support a new policy naming the organization as the irrevocable owner and beneficiary. In this case, an immediate tax deduction can be claimed for the premium payments made.

If you’d like to learn more about making a planned gift to the Zoo, please email robert.micou@louisvilleky.gov or call (502) 238-5300.

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