Bequest Language

pdficon_large.gif Printable Bequest Language

Including the Humane Society of Indianapolis in your estate plan is a simple, convenient way to help ensure that we are able to continue providing for animals in need for generations to come.

A bequest is simply a gift made through a will. If you already have a will, a simple addition called a “codicil” is all that’s needed to include a gift to the Humane Society of Indianapolis. You can leave a specific asset—such as a set dollar amount or a particular piece of property—the remainder of your estate after other matters are addressed, or a portion thereof.

The following wording may prove helpful to your attorney when writing your will:

SPECIFIC BEQUEST

“I hereby give, devise, and bequeath to the Humane Society of Indianapolis, a nonprofit Indiana corporation located at 7929 North Michigan Road, Indianapolis, Indiana 46268, Tax I.D. #35-0876385, the sum of $______ to be used for the organization’s general purposes.”

RESIDUARY BEQUEST

“I hereby give, devise, and bequeath to the Humane Society of Indianapolis, a nonprofit Indiana corporation located at 7929 North Michigan Road, Indianapolis, Indiana 46268, Tax I.D. #35-0876385, all (or a %) of the rest, residue, and remainder of my estate, both real and personal, after providing for the specific provisions of the will to be used for its general purposes.”

Gifts of Life Insurance

A gift of life insurance can provide tax advantages to the donor while providing significant support to IndyHumane. There are several ways to use life insurance to make a gift. The Humane Society of Indianapolis can be named as owner and beneficiary of your fully paid policy, or you can purchase an entirely new policy with the Humane Society of Indianapolis as the owner and beneficiary.

A policy that no longer serves its purposes (for dependents, for example, or for a business that no longer needs insurance) can be changed to name the Humane Society of Indianapolis as the owner and beneficiary.

Finally, you may choose to designate the Humane Society of Indianapolis as the beneficiary of a policy already in existence.

Charitable Remainder Trusts

Transferring assets into a charitable remainder trust can provide you with a current income-tax deduction and a stream of lifetime income for you, your spouse, or children. At the termination of the trust, the remaining assets are transferred to the Humane Society of Indianapolis. Please consult your attorney or financial advisor for more information on establishing a charitable remainder trust.

Charitable Lead Trusts

Charitable lead trusts are similar to remainder trusts, except the Humane Society of Indianapolis receives the income from the trust instead of the owner. Upon termination of the trust, the assets are transferred to your designated beneficiary. This allows you to make a significant gift through the income generated by the trust while maintaining the assets for your heirs.

Gifts of Real Estate

A charitable gift of real estate could be a particularly valuable decision from a tax perspective. If you have owned a piece of real estate for many years, it might have appreciated in value to the point that capital gain will be exceptionally high. If that property is instead donated to the Humane Society of Indianapolis, you can avoid the capital-gain tax and realize a charitable deduction for the full fair-market value of the real estate.

Gifts of Stock

Gifts of appreciated securities that you have held for more than one year are especially advantageous from a tax perspective. There is no capital-gain tax due on the appreciation, and your income-tax deduction is based on the current fair-market value of the gift.

Choosing the Gift That’s Right for You

The planned giving professionals at the Humane Society of Indianapolis are available to assist you in the creation of a gift plan that best fits your financial circumstances. We welcome the opportunity to meet with you, your attorney, and your financial advisor. If you would like to receive more detailed information on planned giving, please contact Jeremy VanAndel, Chief Development Officer, at 317.872.5650, x129.

 

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