As you review and update your financial plans, we hope you will consider providing for Riggs through a bequest, trust, retirement plan, life insurance, or gift of real estate. And if you have already included Riggs in your estate plans, please let us know so that we can thank you personally and welcome you into our 1919 Society.
Among the most popular planned gifts:Bequest
A will provision allows you to provide Riggs substantial financial support without diminishing the assets available to you during your lifetime. Since bequests are deductible from your taxable estate, significant tax savings may be possible. Another common way to provide testamentary support for Riggs is through a provision in your revocable trust.
We provide donors and their advisors with sample language to facilitate this type of gift. We also encourage donors to consider naming Austen Riggs as a beneficiary of retirement plans or similar assets, which would otherwise produce income in respect of a decedent for their heirs. The following sample language is suitable for both will provisions and codicils:
I give, devise and bequeath __________________________________ (insert dollar amount, percentage of your residuary estate, or property to be given) to the Austen Riggs Center, a not-for-profit corporation located at 25 Main Street, P.O. Box 962, Stockbridge, MA, 01262 for its general charitable purposes.
Charitable Remainder Trust
You can use an irrevocable trust to provide yourself and/or a loved one with a fixed annual income or an income that varies with the value of the trust. Part of your gift qualifies for an income tax deduction. At the death of the last income beneficiary, the corpus of the trust is distributed to Riggs.Charitable Lead Trust
You can support Riggs and other charities for a term of years or for the life of an individual by creating a charitable lead trust. Income will be paid to Riggs each year during the term of the trust. When the trust terminates, the assets in the trust revert to you or to individuals you wish to benefit.Retirement Plan
Naming Riggs a partial or full remainder beneficiary of your retirement plan is easy, inexpensive, and beneficial from a tax standpoint. Distributions to Riggs from your retirement plan are not taxed, since Riggs is a tax-exempt organization, while distributions to you or your heirs from a retirement plan are usually fully taxable as ordinary income.Life Insurance
When you give a life insurance policy to Riggs, the cash surrender value of the policy or the cost of a replacement policy is deductible as a charitable contribution. Premiums paid after your gift are also deductible. Riggs may be named a full or partial beneficiary of your policy, while you maintain ownership. This approach is similar to a bequest provision in your will.Real Estate
A residence or other real property may be given as an outright gift, or you may give your residence, farm, or vacation home and retain the right to occupy it for life. You get a charitable deduction in the year in which you arrange your gift.
For more options and further information, please contact the Development Office at firstname.lastname@example.org