What is a Planned Gift?

A planned gift to Animal Rescue, Inc. is a gift made today to secure the future of sick, injured and abandoned animals.

Your planned gift can take the form of a Bequest made through your Will. Other planned gifts include donations of securities and other property, designating Animal Rescue, Inc. as a beneficiary on a life insurance policy or retirement account, memorial gifts, and contributions made through charitable trusts.

Many planned gifts provide significant income tax deductions to the donor. A planned gift may also enable you to avoid capital gains taxes and reduce or eliminate taxes on your estate while benefiting a worthy cause.

You will find information on the most popular planned gift – Bequests through Wills – as well as other planned gifts on this website.

To learn more, please contact the rescue at (717) 993-3232.

Why Preparing a Will is so Important

Many people assume that only those with large estates need to prepare a Will. This is simply not true. Everyone over the age of 18 should have a Will.

Without a Will, state law will determine how your assets will be disposed of upon your death, and, if you have minor children, who will be appointed as their guardian. Court costs, legal fees and estate taxes could also consume a significant portion of your assets.

Only by preparing a Will can you ensure that your final wishes will be honored.

Who Should Prepare My Will?

To substantially reduce federal and state estate taxes and ensure that your property will be distributed as you desire, your Will should be prepared by an attorney experienced in estate matters.

This is also important to ensure that your Will has been properly drafted and that all legal requirements affecting your estate have been satisfied.

What if I Already Have a Will?

If you already have a Will and would like to include Animal Rescue, Inc. in your estate plans, your attorney can prepare a Codicil for you. A Codicil is a short legal document that amends your present Will.

Your Will should be reviewed and updated periodically. This is especially true if life changes such as a birth, death, marriage or divorce have taken place since your Will was written or you have experienced a significant change in financial status. Your attorney can advise you if changes in the tax law have occurred that would affect your current estate plans.

While many changes may be accomplished through a Codicil to your existing Will, it may be necessary to prepare a new Will. Your attorney can also advise you on this.

Bequests

By including a Bequest in your Will to Animal Rescue, Inc., you can ensure that your concern for animals and the environment will continue beyond your own lifetime.

A Bequest to Animal Rescue, Inc. will also allow you to achieve a 100% charitable estate tax deduction.

Bequests are the most popular form of planned gift and can be as simple as including one or two sentences in your Will. Bequests may be made in three ways:

(1) Specific Bequest - Through a Specific Bequest, you can designate a specific dollar amount, a set percentage or specific property to Animal Rescue, Inc.

Examples:

“I give, devise and bequeath to Animal Rescue, Inc., 2 Heritage Farm Drive, New Freedom, PA 17349, the sum of $________ to be used for its general purposes.”

or

“I give, devise and bequeath to Animal Rescue, Inc., 2 Heritage Farm Drive, New Freedom, PA 17349, all (or any percentage) of my estate to be used for its general purposes.”

or

“I give, devise and bequeath to Animal Rescue, Inc., 2 Heritage Farm Drive, New Freedom, PA 17349, my shares of ABC Company Stock (or other description of property) to be used for its general purposes.”

(2) Residual Bequest - Through a Residual Bequest, once all debts, expenses and Specific Bequests are paid from your estate, the remaining amount would be transferred to Animal Rescue, Inc.

Example:

“I give, devise and bequeath to Animal Rescue, Inc., 2 Heritage Farm Drive, New Freedom, PA 17349, all (or any percentage) of the rest, residue and remainder of my estate, including real and personal property, to be used for its general purposes.”

(3) Contingent Bequest - Through a Contingent Bequest, Animal Rescue, Inc. would receive all (or a portion) of your estate only under certain circumstances, such as after the death of your spouse or other family member.

Example:

“If any of the above-named beneficiaries should predecease me, I hereby give, devise and bequeath his or her share in my estate to Animal Rescue, Inc., 2 Heritage Farm Drive, New Freedom, PA 17349, for its general purposes.”

It is preferable that Bequests be designated for Animal Rescue, Inc.’s “general purposes.” In this way, our nonprofit organization is able to use your gift where the need is the greatest.

For more information, please call Animal Rescue, Inc., at (717) 993-3232.

Other Planned Gifts

The following are examples of other planned gifts you may consider, in addition to a Bequest in your Will:

Memorial Gifts

Memorial Gifts made to Animal Rescue, Inc. honor cherished loved ones – a family member, friend or favorite pet – and enable us to continue our life-saving work on behalf of animals in need.

If you would like to make a Memorial Gift for one of these special needs, please call Animal Rescue, Inc., at (717) 993-3232, or write Animal Rescue, Inc., P.O. Box 35, Maryland Line, MD 21105.

Gifts of Securities

While many donors choose to transfer stocks and bonds through a Bequest, these gifts do not need to be made under a Will. In fact, they may be made at any time.

If made during your lifetime, an outright gift of appreciated securities will allow you to receive an income tax deduction for the fair market value of the securities and avoid tax on the capital gain, helping the animals and you.

Gifts of Retirement Accounts

If you name Animal Rescue, Inc. as the beneficiary of all (or a portion) of your individual retirement account (IRA), 401(k), or other qualified pension plan, your gift will bypass the probate process and the proceeds will pass to Animal Rescue, Inc. free of federal estate and gift taxes.

Gifts of Life Insurance Policies

Both new and existing life insurance policies may be donated to Animal Rescue, Inc. Like retirement accounts, if you name Animal Rescue, Inc. as the beneficiary of all (or a portion) of your life insurance policy, the proceeds will not be subject to probate and the gift will pass free of federal estate and gift taxes.

Additionally, if you designate Animal Rescue, Inc. as both the owner and beneficiary, you will receive a tax deduction for the present cash value of the policy and/or the future premiums you pay. You may also choose to retain ownership of the policy and name Animal Rescue, Inc. as your beneficiary.

A gift of a life insurance policy allows you to very affordably provide a significant future gift to the animals.

Additional Planned Giving Options

In addition to the gifts mentioned in this brochure, there may be additional planned giving options that would be appropriate for your estate planning goals, such as a variety of charitable trusts. Many have significant tax advantages.

Your attorney or financial advisor would be best able to explain those options and guide you through this process.

If you do not have an attorney, a family member or friend may be able to provide you with a referral. You can also contact your local chapter of the Bar Association for a referral.

We sincerely appreciate your interest in Animal Rescue, Inc. We would be pleased to meet with you and your advisor to discuss these or other planned giving options. Call us at (717) 993-3232