Make a Plan. Create a Legacy
Options for Creating a Legacy at the Lynchburg Humane Society:
- Support the Lynchburg Humane Society with a Bequest Gift by leaving all or a portion of your estate to help our homeless animals in need. A bequest is a simple and flexible way to leave a legacy of support at the Lynchburg Humane Society. It costs you nothing during your lifetime, but will help ensure the future of our organization for years to come. You can leave a bequest to the Lynchburg Humane Society by naming us in your will or through one of these other options:
- List the Lynchburg Humane Society as the beneficiary of your IRA. This provides a meaningful, substantial gift for our homeless animals through an asset that could be taxed up to 80% if you leave it to a loved one.
- Name the Lynchburg Humane Society as the beneficiary of your life insurance policy.
- Establish a Charitable Remainder Trust. A Charitable Remainder Trust provides you with income for life, but this income has the potential to increase as the trust grows over time. This legacy gift also provides flexibility in the number of beneficiaries and other many other options.
- Establish a Charitable Lead Trust, which works in the reverse manner of a Charitable Remainder Trust. The donor establishes a trust, receiving a tax-deduction at that time, and designates a charity to benefit from payments for a fixed number of years. At the end of that time, the trust is left to your designated heir.
- Gifts of Real Estate A residence, a vacation home, acreage (even a farm) or an unimproved parcel of land may have appreciated so significantly in value that its sale by you would generate a substantial income tax burden. By making a gift of a full or partial interest in real estate to the Society, you will avoid tax on the long-term capital gain and generate an income tax charitable deduction for the full fair market value of the property. It is also possible to make a gift of your primary residence or second home while retaining an exclusive life estate so that you (and your spouse) can continue to use it for the rest of your lives while obtaining significant tax and estate planning benefits.