Living Trusts, Wills and Bequests

David and Ann originally established a fund that would help purchase needed garden equipment and supplies, and that would also provide for management of the Garden's collections. They had made an initial outright gift of some appreciated stock. It was later, after their experiences with the staff, that they changed their living trust to include a bequest that magnifies the gift tenfold.

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

David: Over the years, we have met with some of the people involved in shaping the Garden. We've even been able to help a little ourselves. I can't describe how good it feels to sit with these people, to hear them describe their dreams and how we've helped. What a joy to realize that we have become a part of the Garden Society's future and that they have literally become a part of our family."

Ann: "I feel like we really have accomplished something good!"

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

Passiflora membranacea can be seen in the Entry Garden and Meso-American Cloud Forest Photo Credit - D. Kruse Larger Image

Additional information is 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.

Ann and David found both their lives greatly enriched by their gift to the Botanical Garden Society - they are so pleased by their legacy.

Now click here to meet Susan and Fred.

For tax purposes, the San Francisco Botanical Garden Society, I.R.S. 501(C)(3) number is 94-6050168. All donations to the San Francisco Botanical Garden Society are tax-deductible to the fullest extent of the law.

Please note, individual financial circumstances will vary. The information on this site does not constitute legal or tax advice. Donor stories and photographs are for purposes of illustration only. As with all tax and estate planning, please consult your attorney or estate specialist. All material is copyrighted and is for viewing purposes only. Use of this site signifies your agreement with the terms of use. The content in this Planned Giving section has been developed for San Francisco Botanical Garden Society by Future Focus. Please report any problems to section webmaster.