Most legacy gifts cost you nothing now.
There is no immediate contribution required, and you can change your beneficiaries at any time. Once your family and friends are provided for, we hope you’ll consider leaving a gift to HRC in your will or trust or by beneficiary designation so your story is joined forever with the story of the fight for equality that is HRC.
Gifts in a Will
A gift by will or trust is one of the most popular ways to provide long-term support for HRC’s work to ensure a future of full equality. You retain control of your assets during your lifetime and can change your beneficiaries at any time. You can complete your gift with just a few sentences in your will or trust. You can arrange your bequest to provide for loved ones as well as HRC. And you will help ensure the future of the LGBTQ movement, regardless of the size of your gift.
Here are the most popular approaches:
A general gift by will or trust
Leaves HRC a gift of a stated sum of money in your will or trust, typically personal property or assets.
A residuary gift by will or trust
Leaves a gift to HRC of a percentage of the “rest, residue and remainder” of your estate after other bequests, debts and taxes have been paid.
A specific gift by will or trust
Leaves HRC a specific dollar amount or stated fraction of your estate or a specified gift of property.
A contingent gift by will or trust
Leaves HRC with a stated share of your estate, only if a spouse, partner, family member or other beneficiary does not survive you.
Gifts by Beneficiary Designation
You can designate HRC as a beneficiary of retirement accounts, life insurance plans, CDs, bank accounts, brokerage accounts, and other assets. It’s as simple as contacting the firm that holds your assets and asking them for a beneficiary form to fill out. Forms are often available online.
Retirement Plan Gift
Retirement assets are among the most heavily taxed, making them an ideal resource for charitable giving once you no longer need the assets yourself. As the charitable affiliate of HRC, the HRC Foundation is exempt from paying the taxes that might otherwise be owed. Consider making the HRC Foundation a beneficiary of your retirement assets and leaving other less-heavily taxed assets to loved ones.
To name the HRC Foundation as a beneficiary of your retirement plan, contact your bank or insurance company to see whether a change of beneficiary form must be completed.
Life Insurance Gift
Life insurance is an affordable way to leave a gift to HRC while also enjoying tax savings during your lifetime. Benefits include:
- A significant gift from disposable income at a fraction of the value.
- Tax saving can be immediately realized.
- Your donation could reduce final taxes of your estate.
- Insurance gifts transfer outside the estate.
CDs, Bank Accounts, and Brokerage Accounts
This method is one of the best and easiest ways to make a real difference for the LGBTQ movement. Naming HRC as the beneficiary of a certificate of deposit, a checking or savings bank account, or a brokerage account helps ensure equality for future generations.
Donor-Advised Fund (DAF) Residuals
Final distribution of contributions remaining in a Donor-Advised Fund is governed by the contract you completed when you created your fund. We hope you will consider naming the HRC Foundation as a beneficiary of your account. Or, you can name us the beneficiary a portion of the account value, leaving the remaining portion for your heirs to continue your legacy of philanthropy.
There are many other giving options you may consider. I would love to help tailor your gift to meet your personal and philanthropic objectives. Please contact me directly at email@example.com. Thank you for your support.
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Jade Bristol Verity, J.D.
Director of Estate Planning
1640 Rhode Island Ave., N.W., Washington, D.C. 20036-3212
The content found on this site is general in nature and intended to be used for informational purposes only. It should not be relied upon as legal, tax, accounting or other professional advice. To determine how a gift or estate planning decision might affect your particular circumstances, it is expressly recommended that you consult an attorney, financial advisor or other qualified professional.