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Bequest
| The Maud Haldeman Society
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Bequest:
Although 72% of Americans give to charity during their lifetime,
only 6% leave anything to charity through their wills. Those
are startling statistics given the ease and benefits of making
charitable gifts through wills.
Ease:
If you already have a will, modern word processing allows
your attorney to easily add a sentence directing a bequest
to the charity of your choice. For example: “I give
and bequeath the sum of fifty thousand ($50,000.00) dollars
to the Humane League of Lancaster County”. The small
cost involved in making such a change is far outweighed by
the knowledge you have left a legacy for a worthy cause.
If you do not have a will, and are in the process of writing
one, the inclusion of bequests to charities would not normally
entail any additional legal costs.
Benefits:
In addition to leaving a lasting legacy your charitable bequest
has the benefit of avoiding both Federal Estate Tax and Pennsylvania
Inheritance Tax. Even with the reduction in Federal Estate
Tax rates the top rate will still be as high as 45% through
2009 (the Estate Tax is “repealed” in 2010, but
then gets “unrepealed” in 2011 unless Congress
legislates otherwise). Pennsylvania Inheritance Tax can be
as high as 15%. Therefore, up to 60% may be lost to taxes.
With a little effort you can leave a legacy through your
will that will help generations to come, and have positive
tax results. BUT YOU DO NEED TO MAKE THAT EFFORT. Contact
your attorney, describe what you want to do, and then do it.
The satisfaction you gain will far exceed the effort.
The Maud Haldeman Society:
Preserving the Humane League for Generations to Come
Throughout its history, the Humane League has been generously
supported by the residents and businesses of Lancaster County.
One important way that our donors support the Humane League
is through a bequest.
Every year, many of our supporters make charitable gifts
by naming the Humane League of Lancaster County as a beneficiary
in their wills. The federal government encourages these gifts
or bequests by allowing an unlimited estate tax charitable
deduction.
There are three types of bequests – specific bequest,
residual bequest, and contingent bequest. A specific bequest
allows you to designate a specific dollar amount, specific
percentage, or specific property to the Humane League of Lancaster
County.
A residual bequest allows you to designate the Humane League
of Lancaster County as a bequest only after your estate pays
all debts, taxes, expenses, and specific bequests. The remaining
amount – the residual – will be transferred to
the Humane League of Lancaster County.
A contingent bequest allows you to ask that the Humane League
receive all or a portion of your estate only under certain
circumstances. For example, you can name the Humane League
of Lancaster County as a beneficiary of your estate only if
there are no surviving close family members. Childless couples
sometimes provide for the entire estate to go to the surviving
spouse, or if the spouse does not survive, to the Humane League
of Lancaster County.
As a way of thanking our planned gift donors and for acknowledging
their commitment to support the Humane League, we have created
the Haldeman Society, named in honor of our founder Maud Haldeman.
If you have already made a plan to give to the Humane League
of Lancaster County in your will or estate plan, please contact
the Humane League at (717)393-6551 ext. 239 so we may honor
you with membership in the Haldeman Society. We realize that
with your special gift, you consider us to be part of your
family, and we want to do our best to keep you informed as
to how your gift will be used and to give you the opportunity
to tell us of your wishes.
The Humane
League of Lancaster County is an independent non-profit organization
for the prevention of cruelty
to animals and the care of stray and unwanted animals. We
are a 501(c)3 IRS Approved Charity.
2195 Lincoln Highway East, Lancaster, PA 17602
(717) 393- 6551 | Fax (717) 295-1391 | E-mail: info@humaneleague.com
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