A GUIDE TO MAKING A PLANNED GIFT

 

The Help Group’s Legacy Society is a community of donors committed to ensuring that The Help Group continues to provide essential support and services to individuals, children and families for generations to come. By making a planned gift to The Help Group through their estate, these individuals are securing the future of our mission.

 

Ways to Make a Legacy Gift to The Help Group

 

This guide offers information on different ways you can leave a legacy gift to The Help Group. While we recommend consulting with your financial or legal advisor for personalized guidance, we’ve provided an overview of common planned gift options:

PLANNED GIVING OPTION #1:
BEQUESTS

1. Bequests: You can gift a portion or all of your estate to The Help Group through your will or trust: This is called a bequest, and there are several ways to structure it:

Specific Bequest: Designating a specific dollar amount or asset (e.g., “I bequeath $10,000 to The Help Group” or “I bequeath my vacation home to Help Group”).

Residuary Bequest: Leaving a percentage or the remainder of your estate after other gifts are distributed (e.g., “I bequeath 20% of my estate to Help Group”).

Contingent Bequest: Making The Help Group a beneficiary if a specific event occurs (e.g., “I give my estate to my spouse, if she/he survives me, otherwise to Help Group”).

How to make a gift to The Help Group
through a bequest:

Here is sample language that you can add to your will to make a Legacy Gift to Help Group:

“ I give, devise, and bequeath [the sum of ________ USD (or other currency) OR ________ percent of the rest and residue of my estate] to Help Group (tax identification number 95-2226790), a charitable corporation organized under the laws of the State of California, United States, currently located at 13130 Burbank Blvd Sherman Oaks, CA 91401 United States to be used for its general charitable purposes at its discretion.”

PLANNED GIVING OPTION #2:
LIFE INSURANCE

You can make this gift simply by naming The Help Group as a beneficiary of either an existing policy or a new policy that you purchase for this purpose. In either case, a portion of your premiums may be immediately tax deductible, depending on your situation, even though The Help Group won’t receive the gift until you pass on.

How to make a gift to The Help Group
through a life insurance policy:

You can make The Help Group as the beneficiary of your life insurance policy by completing a “Change of Beneficiary” form either online or by requesting the form from your
insurance company. List Help Group (Tax ID: 95-2226790)
as the beneficiary on the form of all or a portion of the policy’s value.

PLANNED GIVING OPTION #3:
RETIREMENT ASSETS

Retirement assets, such as Individual Retirement Accounts (IRAs) and 401(k)s, are often the most heavily taxed assets in an estate. That’s because these funds have enjoyed tax-free growth over a long time period. Compared to other assets, they can be the most tax-burdened assets to leave to your heirs, making them ideal for charitable giving.

How to make a gift to Help Group
with retirement assets:

To gift your remaining retirement assets, list “ Help Group” (Tax ID: 95-2226790) of your account. You can often make this change by
logging in to your account online or requesting a “Change of Beneficiary” form from your retirement account administrator

PLANNED GIVING OPTION #4:
BANK AND BROKERAGE ACCOUNTS

Similar to leaving retirement assets to Help Group, you can name the Help Group as the “transfer on death (TOD)” or “pay on death (POD)” beneficiary for all or a percentage of a bank account, brokerage account, or a certificate of deposit. Typically, in many states, TOD beneficiaries can receive the assets without having to go through
Probate.

As with other planned giving tools, a TOD designation allows you to retain full control over the assets during your lifetime. You also have the ability to change the beneficiary or close the account at any time. Funds will only transfer to The Help Group after your death if the designation is still in place.

How to make a gift to Help Group
through a bank or brokerage account:

Rules vary slightly by state, but you can typically contact your bank or brokerage firm and request a
beneficiary form, or TOD form, that allows you to name Help Group, (Tax ID: 95-2226790) as a beneficiary of your account(s) once you pass on.

Advantages to these legacy gifts

The legacy gifts described in this guide let you manage your giving with flexibility and confidence. You remain in control of your assets for as long as you need them and can change your mind at any time, for any reason. For example, if your situation changes, you can adjust the amount of your gift as well as your beneficiaries, usually at no cost. This ensures you can protect your loved ones while still providing perpetual support for Help Group.

We’re here to help

If you have questions about making a legacy gift to The Help Group, please contact us and we will be happy to discuss your options and help you create a legacy that reflects your values. Please contact Marc Harrington-Brent at mbrent@thehelpgroup.org or by phone, 617-416-4624.