It’s a common misconception that only the wealthy leave gifts to charity when they pass away. The reality is anyone can leave a gift to charity. And anyone who doesn’t want the government to decide how their assets should be distributed upon their death should prepare a Will/Trust.
Including a charity in your Will/Trust or other estate plans is just as easy as providing for your loved ones. In fact, remembering the animals in your Will or other estate plans is actually a very simple process. It’s as easy as:
1) Including a few sentences in your Will/Trust to designate Animal Rescue & K9 Charities, Inc. as one of your beneficiaries,
2) Completing a simple Change of Beneficiary Form to name Animal Rescue & K9 Charities, Inc. as the recipient of all or a portion of the proceeds of your life insurance policy, IRA or retirement account, or
3) If you already have a Will/Trust, asking your attorney to prepare a short legal document (called a Codicil) that can add a Bequest to Animal Rescue & K9 Charities Inc., while leaving the rest of your Will/Trust unchanged.
Many people also mistakenly believe that they do not have enough assets, or their estates would be too small, to make a difference. Nothing could be farther from the truth. All donations, even a small one, can make a huge difference in the lives of homeless animals. Every dollar we receive helps us alleviate suffering and makes it possible for us to save innocent lives.
The truth is we depend on planned gifts to supplement the donations we receive during the year. In fact, it’s through the generosity and foresight of our supporters who have made these estate gifts that our Shelter for Life, as well as our many current programs, are possible.
Bequests through Wills and other estate gifts help to guarantee that our efforts on behalf of abused and abandoned animals will continue well into the future. Through a Bequest in your Will/Trust, you can designate a specific dollar amount, a set percentage of your estate or specific property to Animal Rescue & K9 Charities, Inc.
And just as your donations to Animal Rescue & K9 Charities, Inc. made during your lifetime may result in a tax deduction, your planned gift may provide a tax deduction for your estate and actually save your family money by reducing inheritance taxes. For supporters concerned that the value of their estate may change between the time they prepare their Will and their death, it may be more desirable to leave a percentage of their estate to their beneficiary through a Bequest. That way, a set percentage of your estate will then pass on to your designated beneficiary, rather than specific property or a specific amount of money. These “percentage” Bequests may also be appropriate for supporters who are concerned that their estate may be too small to remember the animals, in addition to all of their loved ones.
By setting up your Will/Trust with “percentage” Bequests, each of your loved ones and Animal Rescue & K9 Charities, Inc. could receive whatever percentage of your estate you designate in your Will/Trust. Naming Animal Rescue & K9 Charities, Inc. in your Will/Trust as the recipient of the “rest, residue and remainder” of your estate (called a Residual Bequest) is another alternative to consider. That would mean that Animal Rescue & K9 Charities, Inc. would receive whatever assets were left over in your estate. By designating Animal Rescue & K9 Charities, Inc. as your beneficiary in a Residual Bequest, you can remember all of your loved ones in your Will/Trust and Animal Rescue & K9 Charities, Inc. would only receive the remaining assets in your estate after your surviving loved ones received their Bequests. There’s also an added benefit to naming Animal Rescue, Inc. in your Will/Trust as a beneficiary in a Residual Bequest: Should any of your loved ones die before you, you would not have to redo your Will/Trust – their share in your estate would automatically pass to Animal Rescue & K9 Charities, Inc. and be used to aid homeless animals.
And there’s still one more benefit to remembering Animal Rescue & K9 Charities, Inc. in your estate plans: Gratification in knowing that your concern for homeless animals will continue on beyond your own lifetime. Should you decide to include Animal Rescue & K9 Charities, Inc. in your Will/Trust or other estate plans, please let us know. We would love to thank you for your thoughtfulness and include you in our Legacy of Life Society. Your gift may also be kept private, if you so desire. For more information on how you can leave a Legacy of Life for homeless animals, you may visit our website at www.ark-charities.org or call at: 203-658-3200.
While many donors choose to transfer stocks and bonds through a Bequest, these gifts do not need to be made through a Will/Trust. In fact, they may be made at any time.
If made during your lifetime, a gift of appreciated securities will allow you to receive an income tax deduction for the fair market value of the securities and avoid tax on the capital gain – helping homeless animals and you.
If you have questions, be sure to speak to your attorney, financial advisor or call Animal Rescue & K9, Inc. at: 203-658-3200.