At FLBDP, we think of our donors as our partners. With your generosity we are able to continue our mission of maintaining and upgrading the dog park, keeping it clean, green, safe and fun for generations of dogs and their human friends.
A planned gift can provide guaranteed income security, the stability of a fixed income, a charitable tax deduction, gift and estate tax savings, protection for your estate against probate, and more. You will also have the satisfaction of knowing that your planned gift will support our organization in perpetuity.
All of these options provide ways of making a substantial gift to FLBDP while meeting your current and future financial obligations. The information in this document is intended for reference only and does not constitute legal advice. Please contact an attorney for legal advice regarding planned gifts.
A bequest is a gift made through your will. The gift becomes effective after your lifetime and, in the meantime, you can amend it whenever you wish. You can designate this gift in several ways; a percentage of your estate, a dollar amount, or specific property (i.e. real property, art work, or securities), are most typical.
In addition to bequests, there are planned giving options that make it possible to support FLBDP while continuing to fulfill your other obligations.
A revocable living trust, which allows you to receive income from the trust for life. If that amount becomes insufficient to meet your needs you can withdraw assets from the trust at any time. In the trust agreement, you can specify that whatever assets are left in the trust after your lifetime will go to FLBDP. In the meantime, the terms of the trust are flexible; you can add to it, amend it, or revoke it at any time.
A charitable remainder trust is similar to other types of trusts. However, a distinguishing feature of this type of trust is that the amount of money distributed at its termination - the remainder - is paid to a charitable beneficiary such as FLBDP. This allows you to convert assets such as real estate, stocks, or collectibles into a lifetime income for yourself and your spouse and enables your heirs to avoid paying capital gains or estate taxes on the sale. FLBDP is named as the recipient of the trust assets after your lifetime.
A bank account is another way that you can make a revocable trust gift. You can open an account in your name in trust for FLBDP. During your lifetime you will receive interest on the account and can add or withdraw funds at any time. After your lifetime the balance becomes the property of FLBDP to benefit our programs.
Often your financial responsibilities extend beyond your lifetime. You may need continuing income to provide for a surviving spouse or elderly parents. In such a case, there are other planned giving options that not only provide FLBDP with a gift, but also pay income for life to one or more selected beneficiaries.
A testamentary charitable gift annuity is one way you can help both loved ones and FLBDP. This is a combination of a gift and an investment under which, in exchange for a transfer of cash or property, FLBDP will contractually guarantee to pay a specified annuity to one or two beneficiaries for life.
You can also make a gift of life insurance. By making FLBDP the primary or contingent beneficiary of an existing policy, you still own the policy and maintain control all of its options. Donors concerned about providing for children can provide for a charity as well with a life insurance trust. The trustee of the insurance trust can purchase enough life insurance to replace the full property value for the children. The proceeds are kept out of the taxable estate and children pay no income or estate taxes.
A memorial gift is a charitable bequest given in memory of a donor or loved one. FLBDP is pleased to honor these wishes and has many suitable ways to grant recognition.