Gifts from Your Will or Trust
A gift from your will or trust is one of the easiest and most flexible ways to support Special Olympics and make a lasting impact.
Benefits of a gift from your will or trust
- Receive an estate tax charitable deduction
- Reduce the burden of taxes on your family
- Leave a lasting legacy to charity
How a gift from your will or trust works
A gift from your will or trust is one of the easiest gifts to make. With the help of an attorney, you can include language in your will or trust specifying a gift to be made to family, friends or Special Olympics as part of your estate plan, or you can make a gift using a beneficiary designation form.
Here are some of the ways to leave a gift to Special Olympics
- Include a gift to Special Olympics in your will or revocable trust
- Designate Special Olympics as a full, partial or contingent beneficiary of your retirement account (IRA, 401(k), 403(b) or pension)
- Name Special Olympics as a beneficiary of your life insurance policy
A gift from your will or trust may be made in several ways
- Percentage bequest - make a gift of a percentage of your estate
- Specific bequest - make a gift of a specific dollar amount or a specific asset
- Residual bequest - make a gift from the balance or residue of your estate
If you have any questions about leaving a gift to us, please contact us. We would be happy to assist you. If you have been so generous as to include a gift to Special Olympics as part of your estate plan, please take the time to let us know. We would like to recognize you and your family for your generosity.
The method used to make a gift in your will or trust will depend on the kind of gift you choose to leave to Special Olympics.
Gifts of real estate, personal property, business interests and cash are typically made by way of a will, revocable trust or even a simple codicil to your current estate plan. Your estate-planning attorney can assist you in preparing the necessary papers to complete the gift.
Other gifts, such as those involving retirement assets, insurance policies, bank accounts and stocks and bonds, are typically made by completing the appropriate beneficiary designation form. Simply contact your retirement plan administrator, life insurance company, bank or investment broker and ask them to send you the appropriate "beneficiary designation" or "payable on death" form. To complete your gift, you will need to complete and sign the form and then send it back to the person who originally sent the form to you. Be sure to keep a copy of all "beneficiary designation" forms with your will or trust so your executor will know your wishes.
The last step in leaving any gift involves the transfer to charity. When you pass away, the designated gift will be transferred to Special Olympics. The full value of this gift will be transferred tax-free and your estate will receive an estate tax charitable deduction.