Wills and Bequests

Bob and Carol established a fund that would help purchase needed equipment, supplies, or provide for maintenance. They made an outright gift of some appreciated stock and changed their will to include a bequest that will magnify the fund tenfold.

Carol: "We felt good about helping through establishing a small fund. But we had no idea what the fund would bring to us."

Bob: "Over the years, we have since met with some of the people involved, we've seen the improvements our bequest has helped make and, of course, we've enjoyed what we're helping to preserve. I can't describe how good it feels to sit with these people, to hear them describe their dreams and ambitions and how we've helped. What a joy to realize that we have become a part of the foundation's future and that the people involved with it have become a part of our family."

Carol: "It gives me goosebumps even now as I think about it." 

Setting all the emotional rewards aside, this was a wise financial move. First, there were some immediate tax benefits based not on the cost of the stock, but on it's appreciated value. Second, their estate will benefit by having a write-off to charity through the bequest (see bequest information).

There is some additional information available about the benefits of utilizing a charitable bequest and how bequests enable you to keep control of your assets.

Using funds from a retirement account to make bequests is often a good strategy. If there is a balance in your retirement account at your death, not only is there a potential income tax burden, but there may be estate taxes as well. Estimates are that taxes could eat up as much as 70-75% of retirement assets under certain circumstances. Careful planning concerning retirement funds needs to be done. Some additional information regarding retirement assets is available.

Another option to consider in making a gift is to use life insurance policies that are no longer needed or necessary. There are some different ways to make a gift of life insurance.

Carol and Bob found their experience enriched their hearts and lives. Often donors are surprised by just how wonderful the giving experience is.

Now click HERE to meet Joyce.

Laguna Canyon Foundation
303 Broadway Avenue # 107 Laguna Beach CA 92651
Mailing Address:  PO Box 4895 Laguna Beach CA 92652
949-497-8324  Fax: 949-376-5590
E-mail: lagunacf2@lagunacanyon.org
Message Center: 949-855-7275 (PARK)