Gifts that Cost You Nothing Now
Did you know that you can leave a legacy gift with nothing more than your signature? It’s true. When you include California State Parks Foundation in your estate plans you’re creating a way to connect your personal values with CSPF’s mission to preserve and protect California’s state parks. Once your family and friends are provided for we hope you’ll consider making California State Parks Foundation part of your personal legacy.
When you give a legacy gift to CSPF you’re placing us among your family and closest friends. We’re honored and humbled to be held in such esteem, and we’ll ensure that your legacy gift is used to safeguard California’s natural beauty and historic landmarks in the parks across our state.
Gifts by Bequest
You can give a legacy gift in your will or trust, and here are the ways most people leave a gift to CSPF:
Specific Bequest: designates a specific dollar amount or specific asset to CSPF.
Residual Bequest: CSPF will receive the remainder of your estate, or a designated percentage, after all necessary costs and bequests to others have been satisfied.
Contingent Bequest: assumes that you want to leave your entire estate to family and friends. However, if you outlive any beneficiary, you can instruct that CSPF receives that portion of the estate.
To include a bequest to California State Parks Foundation in your will or living trust, or to designate us as a beneficiary of a qualified retirement plan or other financial account, simply provide your advisor or financial account administrator with the following information:
“I hereby give (percentage, residuary, share or specific amount or asset) to California State Parks Foundation, 33 New Montgomery Street, #520, San Francisco, CA 94105.” California State Parks Foundation Tax ID: 94-1707583
Gifts by Beneficiary Designation
When you make a gift to California State Parks Foundation from your retirement plan, insurance plan assets, or other assets, you ensure that CSPF’s important work will continue on into the future and you’ll continue to receive the income from these assets during life. It’s as simple as contacting the firm that holds your assets and asking them for a beneficiary form to fill out. Your beneficiary form takes precedence over any contradictory language that may be in your will or trust.
California State Parks Foundation is grateful for supporters like you who choose beneficiary designation gifts. It’s easy to do and they have positive and lasting benefits for our state parks and future generations.
Retirement Plan Gift: Retirement funds are one of the most important investments for many people. People often choose to name charitable organizations as final beneficiaries to reduce taxes to their heirs and to further a cause they believe in.
To name CSPF as a beneficiary of your retirement plan, contact your bank or insurance company to determine whether a change of beneficiary form needs to be completed.
Life Insurance Plan Gift: A gift of life insurance is an affordable way to make a significant gift to CSPF while also enjoying tax savings during your lifetime. Benefits include:
- A significant gift from disposable income at a fraction of the value
- Tax saving can be immediately realized
- Your donation could reduce final taxes of your estate
- Insurance gifts pass outside a will or trust
Savings Bonds: If you have bonds that have stopped earning interest, and you plan to redeem them, you will owe income tax on the appreciation. Leaving them to loved ones means they will owe income tax when they cash the bonds, and potentially estate taxes. In the end your heirs will receive only a fraction of the value of the bonds in which you so carefully invested. Since California State Parks Foundation is tax-exempt, naming us the beneficiary of these bonds will ensure that 100 percent of your gift will pass to protecting our state parks.
CDs, Bank and Brokerage Accounts: One of the easiest ways you can ensure the future of California parks for generations to come is by making California State Parks Foundation the beneficiary of a certificate of deposit, a checking or savings bank account, or brokerage account.
Donor Advised Fund Residuals: Final distribution of contributions remaining in a donor advised fund is governed by the contract you completed when you created your fund. We hope you will consider naming CSPF as a “successor” of your account. Or, you can name us the successor for a portion of the account value, leaving the remaining portion for your children or grandchildren to distribute to their favorite nonprofits.
As with all gift planning, you should consult with your tax advisor and lawyer to determine what planned gift strategy is best for your current tax situation and income requirements. Engaging estate-planning professionals will help ensure that your wishes to make a lasting impact will be fulfilled.
If you have any questions, please email Patrick Heryford at email@example.com.
Thank you for your support.