To make an unrestricted gift:
I give, devise and bequeath to the [fill in the name of the beneficiary ISRA Organization] the sum of $___________ as an unrestricted gift.
To make a gift to establish an endowment to benefit a specified purpose:
I give, devise and bequeath to the [fill in the name of the beneficiary ISRA Organization] the sum of $___________ , to be held for the benefit of [describe special purpose ]. (By way of example: ‘the promotion of youth firearms safety education”)
To make an unrestricted gift:
I give, devise and bequeath to [fill in the name of the beneficiary ISRA Organization] all [or state a ___%] of the rest, residue, and remainder of my property, both real and personal and wheresoever situated, as an unrestricted gift.
To make a gift to establish an endowment to benefit a specified purpose:
I give, devise and bequeath to [fill in the name of the beneficiary ISRA Organization] all [or state a ___%] of the rest, residue, and remainder of my property, both real and personal and wheresoever situated, to be held for the benefit of [describe special purpose]. (By way of example: ‘the promotion of youth firearms safety education”)
To make an unrestricted gift:
I give, devise and bequeath to the [fill in the name of the beneficiary ISRA Organization] [describe property] (By way of example: “all of my firearms”) as an unrestricted gift.
To make a gift to establish an endowment to benefit a specified purpose:
I give, devise and bequeath to the [fill in the name of the beneficiary ISRA Organization] [describe property], (By way of example: “all of my firearms”) to be held for the benefit of [describe special purpose]. (By way of example: ‘the promotion of youth firearms safety education”)
Gifts of Securities and other Appreciated Assets
A gift of appreciated securities or other assets to a charitable organization such as the LAC is an excellent alternative to a cash gift because it saves taxes twice. You receive an income tax deduction for the fair market value of your securities or other assets (that have been held for more than one year), plus you also save the capital gains tax on the appreciation.
Life insurance can be used to make a gift to an ISRA Organization, allowing you to make a substantial gift for a relatively small cash outlay.
How to make a gift of life insurance:
There are three ways to make a gift of life insurance.
- You can purchase a new life insurance policy and name an ISRA Organization as the irrevocable owner and beneficiary.
- You can transfer an existing policy and name an ISRA Organization as the policy’s irrevocable owner and beneficiary.
- You can add an ISRA Organization as a primary or contingent beneficiary on a new or existing life insurance policy.
You can name an ISRA Organization as a primary or contingent beneficiary of your retirement plan, including an IRA. The suggested language to add to your retirement pan beneficiary designation form is as follows:
The ___% beneficiary of my retirement account is the [fill in the name of the beneficiary ISRA Organization].
Note: If the owner of the retirement account has a surviving spouse, a written consent of the change to the beneficiary designation will be required.
A charitable gift annuity is a convenient way to make a gift that benefits both the donor and the doner. A charitable gift annuity combines a gift with an annuity. In return for a gift to a charitable organization such as the LAC, the donor receives regular, fixed payments for life.
A Charitable Remainder Trust provides the donor with an income for life, which can grow as the funds in the trust increase in value. Upon expiration of the term of the trust, the remainder of the trust is used for the charitable purpose established by you at its creation. Your Charitable Remainder Trust can be designated either as a Unitrust, in which case you are paid a fixed percentage of the value of the assets held in the trust, or as an Annuity Trust, with a fixed annual payment to you.
A Charitable Lead Trust allows you to transfer property to family members with significantly reduced gift or estate taxes. A Charitable Lead Trust is established for a specific term by contributing to the trust an income generating asset, usually real estate. The trust pays a fixed annual amount to your designated charitable organization such as the LAC until the end of the term. At the end of the term the trust’s assets pass to your heirs or beneficiaries.
Should you need assistance with implementing your gift to an ISRA Organization, or require a referral to an estate planning professional, please contact the ISRA office at 815.635.3198 and we will be happy to refer you to our General Counsel.