Gift Planning
Securities Transfer
An outright gift of securities has an immediate impact on Senior Community Centers. Gifts of marketable, long-term appreciated
securities allow you to save taxes in two ways—you receive a charitable gift deduction and avoid all capital gains taxes. Direct transfers can be made by completing the 'Letter of Instruction for Share Transfer Form' for your broker. Please contact Amy Harmon at amy.harmon@servingseniors.org or (619) 487-0623 regarding your transfer to receive approprate acknowledgement and IRS tax notification.
Endowment Gifts
A gift for endowment demonstrates your enduring commitment to Senior Community Centers. It is maintained in perpetuity and
only the income is spent for the purposes specified by the donor. An endowment fund, which typically bears the name of the
donor(s), reflects your interests and serves as a testament to your generosity for years to come.
Legacy Circle
The Legacy Circle recognizes an important group of individuals playing a key role in securing the future of Senior Community Centers as the organization meets the ever increasing demographic and economic needs of low-income seniors in San Diego. Anyone that has listed Senior Community Centers as a full or partial recipient of a planned gift (i.e. bequest, IRA or life insurance policy) is invited to join by completing and returning the 'Legacy Circle Letter of Intent.'
Bequests
By naming Senior Community Centers in your Will as a beneficiary of your estate, you help ensure that seniors in San Diego continue to receive the quality and compassionate services they need for their survival, health and independence of seniors living in poverty.
Charitable bequests help to reduce the size of your taxable estate, resulting in potential estate tax savings.
Sample Bequest Clause for Unrestricted Support:
While you should consult your attorney about the precise legal requirements necessary under your state’s laws, here are some suggestions for language you and your attorney might include in your Will or Trust:
I hereby give, devise, and bequeath to Senior Community Centers, located in San Diego, California, (the sum of $___) or (___ percent of my estate) or (the rest, residue, and remainder of my estate). This gift may be used to further the objectives of Senior Community Centers in such a manner as the Board of Directors may direct.
Using a Codicil to Modify Your Will
Without drawing up a new Will, you can make a charitable bequest to Senior Community Centers simply by adding a codicil (a supplement or an addition) to an existing Will. It is always advisable to discuss changes or additions to your Will or Trust with your legal advisor to ensure all requirements under your state’s laws are met.
IRA (Individual Retirement Accounts) and Life Insurance
Gifts of IRA or life insurance policies can be made by simply completing a designation (or change) of beneficiary form that your plan manager or insurance company provides.
You can designate Senior Community Centers to receive any remaining assets on your individual retirement account (IRA) or other retirement plans while maintaining complete access to your retirement plan assets during your lifetime. Contact the custodian of your retirement account to update the beneficiary designations information on your account.
For more information on any of these giving instruments, please contact Amy Harmon at (619) 487-0623.
Donors should consult with their tax advisors or financial
planners to determine how these gift planning options impact their specific situations.