By including Regional Plan Association in your will or trust, you can ensure that RPA’s work to improve the region continues for years to come. A testamentary gift to RPA can also help you meet your financial and estate planning goals. Your bequest will qualify your estate for a charitable deduction equal to the entire amount of the bequest.
Testamentary gifts to RPA may take two forms:
- Cash Bequests: RPA receives a specific dollar amount
- Specific Bequest or Devise Property: RPA receives specified assets such as securities or an interest in real estate
Example testamentary language:
“I give and bequeath to Regional Plan Association, Inc., a not-for-profit corporation located at One Whitehall Street, 16th Floor, New York, NY 10004, for its general purposes, the sum of __ Dollars ($__) [or __% of my residuary estate]."
Note: The language above is provided as general information and is not intended as legal advice. Please be sure to consult your attorney and/or tax advisor when setting up a charitable bequest.
IRAs, Keoghs, 401(k)s and other retirement plan assets make up a large part of many estates. When left to your heirs, these assets can become subject to income, state and other transfer taxes. Naming Regional Plan Association as a beneficiary of a specified percentage of your retirement plan assets eliminates both income and estate taxes. Designating a specific dollar amount, instead of a specified percentage, will result in the inclusion of these funds in your gross estate for tax purposes.
For more information, please contact Julie Truax at 917-546-4304 or [email protected].