Planned gifts of all sizes are important and play a big role in ensuring that Solid Ground has the ability to help our residents and program participants meet current and future needs. Thank you for considering this important and powerful step. We are honored and humbled to be a part of your legacy.
Some Reasons to Become a Legacy Donor
- Economic freedom and security
- Takes the burden and potential conflict away from family members
- Peace of mind
- Reduce tax burden to you and your heirs
- Share your legacy with future generations
It used to be that only older, wealthy people crafted estate plans, but that’s not the case anymore! More and more people are choosing to take this important step earlier in life. And life happens. Regardless of age or income level, we all face major life events that can impact our financial situation positively or negatively.
Top 5 Reasons to Create or Update Your Will
- Birth of a child
- Death of a loved one
- Marriage or divorce
- Out-of-state move
- Recent tax law changes
Types of Planned Gifts
While there are many different planned giving vehicles, bequests and beneficiary designations are popular for their simplicity and ease:
1) Bequests: Donate cash and/or securities through your will, now or later, by naming the organization(s) of your choice as beneficiary. Note that Solid Ground is currently unable to accept gifts of real estate, closely held securities, or tangible personal property. Ready to make this special kind of gift? Here’s some sample language you may find helpful:
“I, [name], hereby give, devise and bequeath to Solid Ground Washington, a nonprofit 501(c)(3) corporation located at 1501 North 45th Street, Seattle, Washington, 98103-6708 for its unrestricted purposes … [xx] percent of my taxable estate … or the sum of [$XX.00] … or all the rest, residual and remainder of my estate after specified obligations, taxes and expenses have been paid.”
2) Beneficiary Designations: You can donate life insurance and retirement plan gifts (IRAs and 401Ks) by designating the organization(s) of your choice as beneficiary. Please talk to your attorney or financial planner to determine what works best for you and your family. Often your advisor can show you options to give the same amount at lower cost, or how to give more to your favorite organizations without increasing the cost of giving.
If you’re interested in creating a Charitable Gift Annuity, Charitable Lead Trust, or Charitable Remainder Annuity, The Seattle Foundation is a local organization dedicated to promoting philanthropy. They can help you determine which type of deferred gift is right for you.
Potential Benefits of Making a Planned Gift
- Deferred gifts do not affect current economic freedom and/or stability.
- You have the freedom to change your mind (revocable) if your situation changes.
- It costs less to donate IRAs and retirement/pension plans to charity than to pass on to children.
- Is Solid Ground already in your estate plan? Complete and send us this Solid Ground Bequest Form to let us know.
- Tell us your story! We’d love to know why you choose to include Solid Ground in your estate planning to help motivate others to give.
- Volunteer to help promote planned giving.
Questions? Unsure if you’re ready? If you get lost, rest assured that we’re always here to help. Simply contact Maya Hemachandra at 206.694.6803 or firstname.lastname@example.org with any questions.
Note: Solid Ground does not provide legal or tax advice; we recommend that you consult with your attorney regarding your estate plans. We are available to work with your professional advisors.