Your legacy gift will make a great and deep impact at UVHS! With an annual average of almost 1,000 animals being in our care, your legacy contribution can and will positively impact the lives of every one of those pets.
There are many ways to leave a legacy for UVHS, and many ways that can be tax beneficial to you and your heirs. On this page you will find a few options that may work for you and your estate planning. UVHS encourages you to consult your lawyer, family members, and other financial advisers when considering any planned charitable gifts.
Legacy and planned gifts to the Upper Valley Humane Society have a lasting impact on the organization’s ability to care for homeless pets in need. As a tribute to our founder, Betty Farnsworth, and in recognition of the commitment to animal care and welfare by those who leave legacy gifts, families or individuals who name the Upper Valley Humane Society in their will become listed as members in our Farnsworth Society.
Planned Giving Opportunities
IRA Fund Transfer
Oftentimes over 80% of your retirement account’s value will go to the government in the form of tax, however you can plan so that 100% will go to the Upper Valley Humane Society.
Simply name the Upper Valley Humane Society as a beneficiary of your IRA, 401k, 403b or other retirement plan and avoid significant taxation of the proceeds. Many plans will allow you to add a beneficiary online by simply filing out a “beneficiary change form”. Individuals 70½ or older can make tax-free transfers from IRAs of up to $100,000 per year to charities. The compromise tax bill is a provision allowing taxpayers who are age 70½ or older to make tax-free transfers from Traditional or Roth IRA of up to $100,000 per year to charities of their choice.
At any age you can support the Upper Valley Humane Society far into the future – without affecting your assets now.
You can show your support for UVHS at any age by including UVHS in your will. Any asset you own, no matter their monetary value, can be included in a bequest (through a living will or trust) to ensure that your estate will be used as you designate.
A bequest of any size helps the work of UVHS and promotes our mission of compassionately connecting people and pets. Making a bequest reduces estate taxes, eliminates capital gains taxes, and greatly benefits the Upper Valley Humane Society. Bequests can be included in the body of your will, or in a simple, inexpensive codicil added to your existing will. Bequests can be established to leave UVHS a percentage of your estate, or the remainder of your estate after all other commitments have been satisfied
SAMPLE BEQUEST LANGUAGE:
“I hereby give, devise and bequeath _______ dollars, or _____ percent of the residue of my estate (or property, securities, etc.), to Upper Valley Humane Society. (or any successor corporation), with principal offices located in Enfield, New Hampshire, to be used for its general purposes as the Board may direct.”
Charitable Gift Annuities
Income return for your investment in the form of a contribution to UVHS.
A gift annuity allows you to make a contribution to UVHS and then receive a fixed annual income from the donation during your lifetime and/or your spouse’s lifetime. A gift annuity is similar to an annuity that you purchase from an insurance company in that it provides a predictable stream of income in return for your investment. The older you are when the annuity is established, the higher the rate offered. Upon the death of the annuitant, the remaining principal becomes available to UVHS.
Charitable Remainder Trusts
You or a loved one, can benefit from your income during your life and then UVHS will receive the principal of the trust upon the last beneficiary’s passing.
A Charitable Remainder Trust (CRT) is the most flexible gift plan and involves two beneficiaries. Income beneficiaries (you or a loved one) receive a set percentage of income for your lifetime from the trust. The second beneficiary is UVHS, which receives the principal of the trust after the income beneficiaries pass away. The CRT allows taxpayers to reduce estate taxes, eliminate capital gains taxes, and claim an income tax deduction. The trust can be established with real estate, cash, appreciated securities, or other marketable assets.
Charitable Lead Trust
UVHS can benefit from income during your life and then upon your passing your beneficiaries receive the principal.
A Charitable Lead Trust (CLT) is the reverse of a CRT. Your Charitable Lead Trust will provide an immediate income for UVHS for a period of years that you designate. You establish a trust in which you contribute assets. You then designate an amount or fixed percentage to be paid to UVHS, at the end of the designated term the remaining assets are transferred to you, your heirs, or to any party you prefer, without being subject to further estate or gift tax. You receive a gift tax deduction upon creation. This is an effective way to transfer wealth to heirs with little or no gift/estate tax liability while providing much needed support for UVHS immediately.
Get immediate cash after selling for less than fair market value, or avoid the capital gains tax of a sale, and in both cases benefit from an income tax deduction.
With a charitable bargain sale you sell your property to the Upper Valley Humane Society for less than fair market value and get immediate money and a charitable income tax deduction for the discount you took from market value. With a retained life estate gift you give the Upper Valley Humane Society your home, but reserve the right to live there for the rest of your life, and also take an immediate tax deduction and avoid capital gains tax on the appreciated portion of the property that would have been taxable if the property were sold. One can also make an outright gift of real estate (a second home) to UVHS. UVHS then sells the property and uses the proceeds to support our mission of compassionately connection people and pets.
If current beneficiaries of your life insurance plan are no longer living or do not need the funds, you can donate your policy to UVHS.
You can donate a paid-up policy and receive an income tax deduction of the replacement value or cost basis of the policy, whichever is less. To qualify for the charitable contribution deduction on a gift of an existing policy, you must name UVHS as both owner and beneficiary. One can also name UVHS as a death beneficiary at any point in time.
Transferring ownership of a policy gives you an immediate tax deduction. This is a simple and inexpensive way to make an important gift to UVHS.
The Upper Valley Humane Society is a 501(C)3 organization. Federal Tax I.D. number: 23-7348710. All donations are tax deductible as permitted by law.
The Upper Valley Humane Society is a member of the Planned Giving Council of NH & VT and LEAVE A LEGACY® NH/VT.