Are you considering a legacy gift in your estate planning? Making a legacy donation to the Arizona Trail Association is a simple way to sustain the trail you love and the landscapes through which it passes. You can name the ATA as a beneficiary of your will, trust, retirement plan, life insurance policy or financial accounts. Anyone can make a legacy donation and no amount is too small.
The following is suggested testamentary language depending on the type of gift you desire:
“. . . (specific assets, specific amount, remainder or percentage of estate) to the Arizona Trail Association, an Arizona nonprofit corporation, EIN 86-0762149, to be used as determined by the Arizona Trail Association Board of Directors.”
Temporarily Restricted Gift
“. . . (specific assets, specific amount, remainder or percentage of estate) to the Arizona Trail Association, an Arizona nonprofit corporation, EIN 86-0762149. These monies shall be used for _____________________________________.”
Permanently Restricted Gift (Endowment)
“. . . (specific assets, specific amount, remainder or percentage of estate) to the Arizona Trail Association, an Arizona nonprofit corporation, EIN 86-0762149, to be treated as an endowment. The Endowment Fund will be managed by the Arizona Trail Association in accordance with their investment policies as established from time to time.”
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 away. Contact your plan administrator that holds your retirement account assets. Let them know you would like to name the Arizona Trail Association as the beneficiary of all or part of your retirement account.
To ensure that your exact intentions are carried out, we strongly recommend that you consult with an attorney when preparing your estate planning documents. Please also let us know your intention by sending this completed form to:
Arizona Trail Association
738 N 5th Avenue, Suite #201
Tucson, AZ 85705
For more information, call the Arizona Trail Association’s Executive Director at 520-404-7992 or email firstname.lastname@example.org.