Planned Gifts

Leaving a gift to Santa Maria Valley Humane Society in your will or trust, by beneficiary designation, or another form of planned gift can make a lasting difference in our vital and compelling work to save the lives of more dogs and cats. Many gifts cost you nothing now, there is no minimum contribution, and you are not locked into a decision you make today.

animal adoptionBequest

A bequest to the Santa Maria Valley Humane Society is a wonderful way to express your love for animals as part of your legacy.

How It Works

  • Include a bequest to Santa Maria Valley Humane Society in your will or trust.
  • Make your bequest unrestricted or direct it to a specific program within the Santa Maria Valley Humane Society.
  • Indicate a specific amount, or a percentage of the balance remaining in your estate or trust.

Sample Language:

“I bequeath _________(dollar amount or % of estate) to be used for its general purposes (or you may restrict the gift to a specific program) to the Santa Maria Valley Humane Society, Inc., or its successors and/or assigns by merger or purchase, federal tax identification number 77-0002949, whose permanent address is 1687 West Stowell Road, Santa Maria, California 93458.”

Benefits

  • Your assets remain in your control during your lifetime.
  • You can modify your bequest to address changing circumstances.
  • You can direct your bequest to a particular purpose (be sure to check with us to make sure your gift can be used as intended).
  • Under current tax law there is no upper limit on the estate tax deduction for your charitable bequests.

Life Insurance

Santa Maria Valley Humane Society accepts gifts of life insurance either as the beneficiary of a policy or as the sole owner and sole beneficiary. This can be an existing or employer provided policy or a paid up policy.

You can name Santa Maria Valley Humane Society as a primary life insurance beneficiary or as a contingent beneficiary should your other beneficiaries not survive you. After your lifetime, the benefits from your policy pass to the Humane Society, free of federal estate tax.

Existing or Employer Provided

How It Works

  • Contact your life insurance carrier and request a beneficiary form.
  • Designate Santa Maria Valley Humane Society as a primary or contingent beneficiary.

Benefits

  • Simple to give: Involves little effort or paperwork.
  • Financial advantage: Continued ownership of your policy.
  • Flexibility: You can change your mind and your beneficiaries at any time.
  • Future tax savings: Removes the asset from your potential gross taxable estate.

Paid up Policy

How it Works

  • You transfer ownership of a paid-up life insurance policy to Santa Maria Valley Humane Society.
  • The Humane Society cashes in the policy now or maintains it and receives the death benefit later.

Benefits

  • Income tax savings: You’re entitled to a current income tax deduction.
  • Future tax savings: Removes the asset from your potential gross taxable estate.

Retirement Plan

Retirement assets include tax-deferred retirement saving accounts, like Individual Retirement Accounts (IRA), 401(k), 403(b), annuities, Keogh, and pension plans.  Gifts from these accounts while you are still living may have withdrawal penalties and may have income tax consequences.   However, naming the Santa Maria Valley Humane Society as the beneficiary of your retirement assets at your death avoids both income tax and estate tax obligations.

If the largest asset in your estate is your retirement plan, such as a 401(k), IRA, or Keogh, you may be surprised to learn that the IRS will impose income tax on the remaining balance in the account if you designate it to a beneficiary other than your spouse.

The income from the after-death distribution of a tax-deferred retirement plan to an heir is taxable as income and is in addition to the estate tax that may be imposed on the account. For estates fully subject to the estate tax, the result can be that up to 75 percent of the value of your retirement plan will be consumed in taxes before your child, relative or friend receives it.

How It Works

  • Name the Santa Maria Valley Humane Society as a beneficiary of your IRA, 401(k) or other qualified plan.
  • Designate Santa Maria Valley Humane Society to receive all or a portion of the balance of your plan through your plan administrator.
  • The balance in your plan reverts to Santa Maria Valley Humane Society after your lifetime.
  • Your gift to Santa Maria Valley Humane Society is not taxed for income nor for the estate because the Humane Society is a tax-exempt organization.

Benefits

  • Avoid the double taxation your retirement savings would incur if you designated your heir(s) as beneficiary(ies).
  • Continue to take regular lifetime withdrawals.
  • You can remove as a beneficiary if your family’s needs change.

Stocks, bonds, and mutual funds are the most common types of securities in a person’s portfolio.  By making a gift of securities to the Santa Maria Valley Humane Society, you can claim the full-appreciated value of the Securities as a charitable contribution deduction and avoid the capital gains tax.

Charitable Gift Annuity

Your contribution of cash or securities to a charitable gift annuity not only support the Santa Maria Valley Humane Society, it provides you or your loved ones with a fixed income payment for life.  These payments are based on your age at the time of the gift.

How It Works

  • You transfer cash or securities to Santa Maria Valley Humane Society.
  • The Humane Society pays you or one other beneficiary you name fixed income for life.
  • The remaining balance passes to the Humane Society when the contract ends at the death of the last beneficiary.

Note:

  • Beneficiaries must be at least 65 at the time of the gift.
  • Our minimum gift requirement is $10,000.

Benefits

  • Receive dependable, fixed income for life in return for your gift.
  • In many cases, increase the yield you are currently receiving from stocks or CDs.
  • Receive an immediate income tax deduction for a portion of your gift.
  • A portion of your annuity payment will be tax-free.

For more information and other ways to set up planned giving options, please contact our Executive Director at [email protected].