Bequests
A bequest, which is a gift from your estate through your will or trust, is a simple way for you to support the organization in the future. Since it is not payable until after your lifetime, a bequest will not affect your current cash flow. You can leave a bequest to Els for Autism by including the organization as a beneficiary of your will or in your revocable living trust. Bequests are flexible, they can be changed at any time, and just about any type of property may be donated through a will or trust.
Suggested Bequest Language
To make a bequest to Els for Autism for unrestricted purposes:
“I give, devise, and bequeath to Els for Autism Foundation Inc., an organization created under the Not-for-Profit US public charity law and located in Jupiter, Florida, (____% of my residuary estate or $____) to be used for the general purposes of the Els for Autism organization as its Board of Trustees shall determine.”
A Gift Through Your Will or Living Trust
You can make a bequest to the organization by including us in your will or living trust. If you would like to include a bequest in your charitable gift plan, you might consider the following options:
- General bequest: The organization receives a specific dollar amount.
- Specific property: The organization receives specific assets, such as named securities, a piece of real estate (such as a residence), or tangible personal property (e.g., artwork, antiques, coins).
- Residuary bequest: The organization receives all or a percentage of the remainder of your estate after the payment of general and specific bequests and estate-related expenses.
- Contingent bequest: The organization is given a bequest only in the event of the death of other beneficiaries.
You may also decide to sign a bequest pledge with Els for Autism. This is an irrevocable agreement in which you pledge that the organization will receive a specific dollar amount from your estate. In exchange for your promise, you can receive recognition at the organization when you sign the pledge that is commensurate with the size of the future gift.
Beneficiary Designations
Including the organization on a beneficiary designation form is an easy and quick way to support Els for Autism. Some assets allow you to name an ultimate beneficiary by simply completing a form.
Please name the organization on your beneficiary designation form as “Els for Autism Foundation Inc.”
IRAs and Other Qualified Retirement Plan Designations
You can designate the organization as the ultimate beneficiary of a retirement account such as an IRA or 401(k). To do so, you simply complete a beneficiary designation form and return it to the plan’s custodian. Typically, there are additional tax benefits available when donating this type of asset. For example, much of the value of an IRA you bequeath to your heirs could be eaten up by taxes. Naming Els for Autism as beneficiary of a qualified retirement plan may avoid income and estate taxes that otherwise might be due.
Life Insurance Beneficiary Designations
The organization can be named a beneficiary of an existing life insurance policy if your family no longer needs the insurance benefits. You would simply complete and return to the insurance company a form designating the organization as recipient of all or a portion of the ultimate benefit associated with the policy. Life insurance can represent a significant gift to the organization at a relatively low cost to you.
Payable on Death (POD) and Transfer on Death (TOD) Accounts
A POD or TOD account allows for the money remaining in the account, when the account owner passes, to go directly to the beneficiaries named. POD/TOD designations can be created for most bank and investment accounts and for certificates of deposit and U.S. savings bonds.
To create a POD/TOD account, you simply complete a form instructing your bank or investment account administrator to pay to your favorite charity all or a portion of what remains in your account at the end of your lifetime.
Donor-Advised Fund Designations
You are generally able to recommend in advance (on a form provided by the account manager) that, at the end of your lifetime, a lump-sum grant be made from your donor-advised fund account to charity. Check your donor-advised fund’s policies and guidelines to confirm the steps necessary to make this gift.
