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TYPES OF PLANNED GIFTS


Lupazoo greatly appreciates your interest in our planned giving opportunities. Please know that your planned gift can help build our endowment to ensure a stable financial future for your Lupazoo. You can also receive a number of tax benefits such as a reduction in estate, gift and/or current income taxes.

Charitable Bequest- Leave a legacy and name the Lupazoo in your will (sample language)
Charitable Gift Annuities- Receive guaranteed payments for life
Charitable Remainder Trusts- Receive income for a term of years
Charitable Lead Trusts- Transfer trust assets to the Lupazoo today and your heirs in the future
Gifts of Life Insurance- Designate the Lupazoo as a beneficiary or name the Lupazoo as the policy owner
Gifts of Real Estate- Donate a residence and receive retained life interest

CHARITABLE BEQUESTS (top of page)
How to Name the Lupazoo in Your Will
A charitable bequest to the Lupazoo Society will help build a strong and solid funding base that will support the Lupazoo far into the future. Your bequest can take several forms, and these are some examples of wording for your advisors to consider:

A general bequest is for a certain dollar amount of property, usually cash: "I give to the Lupazoo Society, Ludlow, Ma. or any successor organization thereto, the sum of $100,000…"

A specific bequest directs that the Lupazoo Society is to receive a specific piece of property: "I give to the Lupazoo Society, Ludlow, Ma. or any successor organization thereto, 500 shares of XYZ stock…"

A residual bequest designates all or a portion of whatever remains after all debts, taxes, expenses and other bequests have been paid: "I give the Lupazoo Society, Ludlow, Ma., or any successor organization thereto, fifty percent (50%) of the rest, residue and remainder of my estate…"

You may designate that your bequest be used for a particular purpose, and you may indicate whether it is for current needs or endowment. Because a bequest is revocable, there is no immediate income tax deduction, but your gift will be deductible from your taxable estate. Please consult with an attorney when writing your will in order for your wishes to be clearly articulated.

CHARITABLE GIFT ANNUITIES (top of page)
Guaranteed payments for life
Gift annuities are popular plans that can help you make a substantial gift to the Lupazoo Society while still providing for your personal financial needs. They offer significant tax benefits and, depending on the asset contributed, may even increase your cash flow. You will receive income for life where a portion is most often tax-free and receive an immediate tax charitable deduction. You can also reduce your estate tax in certain cases.

CHARITABLE REMAINDER TRUSTS (top of page)
You may have an asset that you would like to give to the Lupazoo Society, but for now you need the income it provides. One possibility is to leave it as a bequest. But with a charitable remainder trust, you can make your gift now and continue to receive income for life or a term of years.

Benefits:
  • You receive an income tax charitable deduction for the present value of the estimated remainder that will be left to support the Lupazoo. This can result in significant tax savings over the period during which you report the deduction on your tax returns. For many donors, an even greater benefit is the avoidance of tax on the capital gain at the time the asset is sold by the trust.
  • Increase current cash flow.
  • Provide supplemental retirement income.
  • Provide for other family members.
CHARITABLE LEAD TRUSTS (top of page)
If you have a large estate you are planning to pass on to your children, you should know about the charitable lead trust. Estate and gift taxes can severely reduce the value of property passed on to your heirs. A charitable lead trust enables you to minimize or even eliminate gift and estate taxes and make a charitable contribution to Lupazoo at the same time.

In establishing a lead trust, you make an irrevocable transfer of assets to a trustee. The Lupazoo Society receives income from the trusts for a certain number of years or until the end of your life or another's. At the end of the term, the principal is distributed to your heirs. This greatly reduces gift and estate taxes.

 GIFTS OF LIFE INSURANCE (top of page)
There are several ways you can use life insurance to support the Lupazoo. One simple method is to designate the Lupazoo Society as the beneficiary of a policy's proceeds. You can also contribute a policy you already own but no longer need, or purchase a new one as your gift. And if you have other assets you'd like to contribute to the Lupazoo, you may wish to obtain life insurance to replace the value of those assets for your heirs.

GIFTS OF REAL ESTATE (top of page)
You may donate a personal residence (not necessarily your principal residence) or farm to the Lupazoo Society, but retain the right to occupy or make other use of it for the duration of your life. You receive an income tax deduction for the present value of the remainder interest and avoid any potential tax on capital gain.

The donor may be called upon to agree to pay any property taxes on the property, to maintain the property, provide a qualified appraisal, to provide adequate property insurance and/or provide a Phase II Environmental Survey. Lupazoo will attempt to sell any donated real estate as soon as feasible.

Who do I contact about a planned gift?
The Lupazoo Society will be happy to give you more information and explain how planned giving can work for you. Please contact Joan Lupa, Major Gifts/Planned Giving Manager:
  • By phone at (413) 589-9883.
  • By email at Joan@Lupazoo.org.
  • By mail at 545 West Street, Ludlow, Ma. 01056
The information above does not constitute legal or financial advice and should not be relied upon as a substitute for professional advice. The Lupazoo Society encourages you to seek professional legal, estate planning, and financial advice before deciding on a course of action. All information submitted will be held in confidence.

Last modified: August 1, 2003