Planned giving 101

In the summer 2019 issue of Pet Tales, we shared a bit about planned giving, including the definition and importance of these kinds of gifts. Just as the Dumb Friends League helps many types of homeless pets and animals, there are many ways of making a planned gift.

  • Bequest: A bequest is the most common way to include the League in your will or trust. You can decide whether you prefer to leave a percentage of your estate to us or a specific amount of money.
  • Gift of cash: You can support the League by designating the organization as a beneficiary of a bank account by completing a pay-on-death form. This type of gift is accomplished with a simple form and does not require changing your will or trust.
  • Gift of securities: A outright gift of securities may meet your needs if you have owned the securities for more than a year, and they are worth more than you originally paid–and if you want to avoid paying taxes on their appreciation. If you’d like to make a planned gift during your lifetime, this is a great option.
  • Gift of retirement plan assets: You can name the League as a primary or secondary beneficiary to receive all or a portion of the proceeds from retirement assets, such as an IRA, 401(k) or a 403(b) plan. By naming the League as the beneficiary to these types of assets, you may be able to eliminate most or all federal income and estate taxes. This option is available to make during your life, for example, through an IRA rollover or made in your estate plans.
  • Gift of life insurance: The League can be the primary or secondary beneficiary of all or a portion of your life insurance policies. You can also make an outright gift during your lifetime of fully paid life insurance policies that you no longer need. Your estate will not pay estate taxes on the policy proceeds the League receives. Additionally, if you make the League owner of the policy, you will generally receive an income tax deduction equal to the policy’s replacement value.
  • Gift of real estate: Make a gift of real estate to the League in your will or trust. This gift may include homes or property.

As always, please consult a professional advisor before making any changes to your estate plans. Whether you choose to name the Dumb Friends League in your will or trust or give through your retirement fund or life insurance, these planning tools offer the opportunity to help ensure that we’ll be here, committed to the welfare of animals, for many years to come.
If you’d like to learn more, please contact Rory Fry, planned giving officer, at rfry@ddfl.org or 720.241.7163.