Two popular planned gift options:
Beneficiary Designations – naming LVSF as a beneficiary of your retirement plan.
- Retirement plans such as IRAs, 401(k)s, 403(b)s and pensions are among the most highly taxed
assets in many people’s estates. Naming LVSF as the beneficiary of an IRA or retirement plan can mean less of your estate goes towards taxes since your donation will be exempt from federal estate and income tax.
- You can continue to take withdrawals from your plan during your lifetime and you still have the flexibility to make changes should you need or wish to.
- To make your gift, simply name Literacy Volunteers of Santa Fe as whole or partial beneficiary on your retirement plan’s form.
Bequests by Will – naming LVSF as a beneficiary in your will.
- A bequest is the simplest and most convenient way to make a planned gift to Literacy Volunteers of Santa Fe. It can be a set dollar amount, a percentage of your estate, or one that names LVSF as a secondary (contingent) beneficiary.
- Your gift will be exempt from federal estate tax and you will avoid capital gains on the amount of your gift. You control your assets during your lifetime and you will be making a substantial gift when you no longer need those assets
Sample bequest language:
SPECIFIC DOLLAR BEQUEST
“I bequeath Twenty Thousand ($20,000) Dollars [or: all my General Motors stock] to Literacy Volunteers of Santa Fe, a New Mexico non-profit corporation in Santa Fe, NM.”
“I bequeath Ten Percent (10%) of the residue of my estate to Literacy Volunteers of Santa Fe, a New Mexico non-profit corporation in Santa Fe, NM.”
“If my niece does not survive me or is unable to inherit this bequest, I direct that it be paid to Literacy Volunteers of Santa Fe, a New Mexico non-profit corporation in Santa Fe, NM.”