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 SUPPORT YOUR ZOO
Bequests – 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.
Email or call the Development
office at (502) 238-5614.
Privacy Note:
The information you submit is for internal use only and will not be sold
to or used by other parties.
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