What are the Benefits of Planned Giving?
Through planned giving you may be able to increase your current income or provide additional retirement income, while reducing income tax and estate taxes. Some gifts virtually eliminate estate taxes while others greatly reduce the amount of tax you are responsible for during your lifetime. It is important to explore your options with an estate planning attorney to maximize your tax benefits.
Bequests, Wills & Trusts
There are many ways to ensure your family is cared for and to include the Sequoia Park Zoo Foundation in your legacy. We encourage you to explore the variety of options with your financial advisor.
- Designate a percentage of your estate through your will or living trust
- Give only the remainder, or residue, of your estate—that which remains after bequests to loved ones have been made
- Leave a specific dollar amount
- Provide for a gift of specific property—real estate, stocks or other items
Charitable Gift Annuities
A charitable gift annuity is a contract between you and the Sequoia Park Zoo Foundation that enables you to make a gift that guarantees payments to you and/or a loved one for life. A portion of your annuity payments may be tax free. A charitable gift annuity also entitles you to partial income tax charitable deduction and may provide capital gains and estate tax benefits. After your lifetime, the remainder of your gift will support the work of the Sequoia Park Zoo Foundation.
You can create a legacy by naming the Sequoia Park Zoo Foundation as a beneficiary or contingent beneficiary of an IRA, 401(k), 403(b), Keogh account, or other qualified retirement plan. Upon your death all or a portion of the unused balance in your account is transferred to the Sequoia Park Zoo Foundation as a charitable gift.
Life Insurance Gifts
Life insurance policies are a meaningful and often overlooked way to make a charitable gift. One way to do this is to make the Sequoia Park Zoo Foundation a beneficiary on your life insurance policy. Another is to transfer ownership of a paid up policy to the Sequoia Park Zoo Foundation, thus receiving an immediate tax deduction. You can also take out a policy and make the Sequoia Park Zoo Foundation owner and beneficiary—the annual premiums become a tax deduction for you.