Numerous approaches to planned giving are available, including bequests by will, life insurance, gifts of real estate or stock, gifts from retirement plans, charitable remainder trusts and charitable lead trusts. Each has its own requirements and benefits, which you can read about below. For more information, contact Sara Richardson at firstname.lastname@example.org or 817.332.2748. We encourage you to discuss with your tax advisor or planning professional as well.
The generous support of our donors has brought FWBG | BRIT to this moment of unprecedented opportunity. We appreciate your help as we continue to move toward our goal of becoming an internationally recognized center for botanical exploration and discovery.
Your bequest will provide an enduring legacy that will live on in our research and education programs as well as in the beauty of the Garden’s ponds, fountains, trees and flowers for generations to come.
Planned Giving Options
Bequest by Will — A legacy of giving
Including a charitable bequest in your will is a simple way to make a lasting gift to the FWBG | BRIT and your community. You can leave a bequest to the organization by adding to an existing will or drafting a new one. Make a gift of a stated dollar amount, specific property, a percentage of your estate or the remainder after distributions to other beneficiaries. In doing so you leave a legacy to FWBG | BRIT yet preserve and enjoy assets you might need during your lifetime. Plus, the assets distributed to the organization are exempt from estate tax.
Life Insurance — A simple way to give a significant gift
Giving through life insurance is one of the simplest ways to make a significant contribution to FWBG | BRIT and establish your legacy of giving. Two approaches are available: You can designate the organization the primary or secondary beneficiary of either all or some percentage of the proceeds from the policy. Or you can transfer to the FWBG | BRIT ownership of the policy, either paid in full or for which you continue making premium payments.
The transfer of the policy is a present gift for which a charitable tax deduction may be taken, and your continued payment of premiums is each considered charitable contributions, deductible to the full extent of the law.
Gifts of Publicly-Traded Stock or Closely-Held Business Interests — Let your portfolio or your business profit the community
Shares of appreciated publicly traded stock are an effective way to support FWBG | BRIT and avoid taxation on the gain. We can receive stock gifts directly through your brokerage account; you receive a charitable income tax deduction, usually equivalent to fair market value as determined under IRS guidelines. We will sell the stock immediately and apply the net proceeds toward our mission.
FWBG | BRIT will also consider gifts of closely-held business interests such as corporations, limited liability companies and limited partnerships if an acceptable means of converting the stock into liquid assets can be an anticipated within a reasonable time. This may occur through redemption agreements, liquidation or asset transfers. These are complex transactions, so consultation with your tax advisor or planning professional is necessary.
Gifts from Retirement Plans — The perfect gift asset
Retirement plan assets (those in qualified plans and IRAs) are ideal for charitable giving purposes because these assets are often heavily taxed when passed to non-spouse beneficiaries. To make a future gift of retirement plan assets simply requires a designation of FWBG | BRIT as the beneficiary of the plan. In addition, making a present gift of retirement account assets during your lifetime has been permitted under recent law for certain tax years; check with your tax advisor before making a gift of retirement plan assets.
Charitable Remainder Trust — Planning for the future, for you and your community
Giving through a Charitable Remainder Trust allows you to receive income for the rest of your life or a specified term of years, knowing that whatever remains will benefit FWBG | BRIT. You transfer assets into a trust and receive an immediate charitable deduction. The trust distributes regular income payments to you or to designated family members. You may choose to receive a fixed payment or one that changes with the value of the trust assets; payments can begin immediately, or you can defer them to increase your charitable income tax deduction. The amount of the payments and the amount of the charitable tax deduction depends on the age of the recipient and the applicable federal rate for determining the present value of an interest for a term of years. Upon the beneficiary’s death or after a defined period of years, the remaining assets in the trust will transfer to FWBG | BRIT.
Charitable Lead Trust — Giving to FWBG | BRIT and your loved ones
A Charitable Lead Trust permits you to remove assets from your estate and benefit FWBG | BRIT during the trust’s term. Assets selected by you are transferred into a trust, which pays the organization an annual amount to accomplish its mission. During its term, the trust can be managed by experienced professionals, which may help your trust investments grow over time. When the trust terminates, either upon your death or after a specified number of years, its final assets are transferred to the family members you designate. Any growth in the trust passes to recipients, often with significant transfer-tax savings.
Charitable lead trusts may also be created by will as part of your testamentary planning. Charitable Lead Trusts offer financial benefits by sheltering investment earnings from income tax, too. However, at the time your trust is established, you may owe gift tax on the present value of your gift to the final beneficiary. Charitable Lead Trusts can be arranged to make annual distributions of a fixed percentage of the trust assets or distributions of a fixed dollar amount.