Photo by Tom Corey

Photo by Tom Corey

Planned Giving

Are you considering a bequest to Natural Restorations in your estate planning? A bequest is a provision in your will or living trust that directs a portion of your estate to a named person or charity, such as Natural Restorations. You may bequeath a specific asset, a dollar amount, a percentage of your estate or the remainder of your estate after all other gifts have been distributed. You may choose how the funds from your bequest will be utilized by the Natural Restorations.

The following is suggested testamentary language depending on the type of gift you desire: 

Unrestricted Gift

". . . (specific assets, specific amount, remainder or percentage of estate) to Natural Restorations through their nonprofit fiscal sponsor, Arizona Trail Association, Phoenix, Arizona, to be used as determined by Natural Restorations."

Restricted Gift

". . . (specific assets, specific amount, remainder or percentage of estate) to Natural Restorations through their nonprofit fiscal sponsor, Arizona Trail Association, Phoenix, Arizona. These monies shall be used for _____________________________________."

Endowment Gift

". . . (specific assets, specific amount, remainder or percentage of estate) to Natural Restorations through their nonprofit nonprofit fiscal sponsor, Arizona Trail Association, Phoenix, Arizona, to establish the (specifically named or added to an existing) Endowment Fund to benefit the _______________________________. Payouts declared from the endowment fund shall be used for _______________________. The endowment fund will be managed by Natural Restorations in accordance with their investment policies as established from time to time."

Or you may want to consider a gift of all or part of your retirement account to charity. Retirement plan assets are often ideal candidates for a charitable bequest because they generate "income in respect of a decedent". In simplified terms, income in respect of a decedent ("IRD") is an inherited payment that would have been taxable income to the decedent had he or she received it before death. If the retirement plan directs plan proceeds to a charitable organization, neither the donor's estate nor heirs will realize income from the plan; rather, the income will be realized by the tax-exempt recipient organization. Thus, no tax will be paid in the year of distribution. The process of naming a charitable organization is as easy as a phone call. Contact your plan administrator that holds your retirement account assets. Let them know you would like to name Natural Restorations as the beneficiary of all or part of your retirement account.

Important:  To ensure that your exact intentions are carried out, we strongly recommend that you consult with an attorney when preparing your estate planning documents.