Because a bequest is not payable until death, you have control of your assets during your lifetime. You can change your will at any time, making a bequest revocable and your estate planning flexible. Your will is not made public until your death, assuring you privacy in your estate planning.

A bequest is fully tax-deductible for federal tax purposes when it is received by an IRS-approved charity organization like Rainforest Trust. There is no limit to the deduction your estate can claim. Generally, a bequest is also exempt from state inheritance taxes. Check your state guidelines.

Your attorney will be the principal advisor in preparing or amending your will. Listed below are three types of bequests with sample language to help you plan.

You can give a specified dollar amount or percentage of your estate in your will by using the template below.

Sample Language:

“I give and bequeath unto Rainforest Trust, a charitable nonprofit organization duly recognized under section 501(c)(3) of the Internal Revenue Code with Federal Tax ID #13-3500609, incorporated in New York on December 8, 1988 and having its principal office at 7200 Lineweaver Road, Vint Hill, VA 20187, the sum of $ ________ (or _____% of my estate), to be used for its general purpose of protecting threatened rainforests and saving endangered wildlife.”

Only the remainder of your estate is gifted to Rainforest Trust after all other bequests you’ve designated to your loved ones and other charities have been satisfied and after taxes, debts and expenses have been paid.

Sample Language:

“I give and bequest to Rainforest Trust, a charitable nonprofit organization duly recognized under section 501(c)(3) of the Internal Revenue Code with Federal Tax ID #13-3500609, incorporated in New York on December 8, 1988 and having its principal office at 7200 Lineweaver Road, Vint Hill, VA 20187, ____% of the rest, residue and remainder of my estate, both real and personal to be used for its general purpose of protecting threatened rainforests and saving endangered wildlife.”

Require that certain conditions must be met or that a certain event must occur before the bequest can be fulfilled.

Sample Language:

“In the event that [insert name of primary beneficiary] does not survive me, or shall die during the administration of my estate, then I give and bequest to Rainforest Trust, a charitable nonprofit organization duly recognized under section 501(c)(3) of the Internal Revenue Code with Federal Tax ID #13-3500609, incorporated in New York on December 8, 1988 and having its principal office at 7200 Lineweaver Road, Vint Hill, VA 20187, all of the rest, residue, and remainder of my estate [or identify here a specific sum of money, a specific asset or the percentage of the residual estate that would have been given to the primary beneficiary], to be used for its general purpose of protecting threatened rainforests and saving endangered wildlife.”

This type of trust preserves an inheritance for your loved ones while making a significant ongoing gift to support the work of Rainforest Trust. A portion of your assets will be set aside for a number of years. Because this type of trust is irrevocable, your assets are untouchable while they reside in the trust.

There is a significant reduction in estate taxes and gift taxes.

Your attorney should assist you in creating a charitable lead trust. You may want to involve a tax and/or financial advisor in this process, especially when choosing a trustee to manage your account.

There are two types of charitable lead trusts available to our donors:

Charitable Lead Unitrust

This unitrust provides variable income, based on the value of the trust’s assets. The annual payments to Rainforest Trust will fluctuate with the market.

Charitable Lead Annuity Trust

With an annuity trust, Rainforest Trust receives a fixed amount annually, which is specified when you establish the trust.

This trust provides a stable income for life (or for a set term of years). Remainder Trusts are irrevocable, making your giving plan final. This trust will provide a significant gift to Rainforest Trust, but only after your death.

You’ll receive an immediate income tax deduction for your contribution, as you would with any other charity donation. In addition, you should pay no upfront capital gains tax on any appreciated assets you donate over the life of the trust. Specific tax benefits will vary depending on your individual circumstances.

Your attorney can help you establish a charitable remainder trust. You may want to involve a tax and/or financial advisor in this process, especially when choosing a trustee.

Two types of Charitable Remainder Trusts available to our donors:

Charitable Remainder Unitrust

A unitrust provides variable income, based on the value of the trust’s assets. The annual payments to you will fluctuate with the market.

Charitable Remainder Annuity Trust

With an annuity trust, you receive a fixed amount annually, which you can specify when the trust is established.

Donating a retirement plan allows you to give the most favorably taxed assets to your heirs. You can make withdrawals from the retirement plan during your lifetime. You have control to change the beneficiary, making your planned giving flexible.

You should be able to escape both income and estate taxes levied on the amount remaining in your retirement plan account.

Contact the administrators of your retirement plan to inform them that you wish to give all or part of the remainder in the account to Rainforest Trust.

If you have a life insurance policy that is not needed for the protection of your family, this option may work for you.

You should receive an income tax deduction equal to the value of the policy.

Simply name Rainforest Trust as the full or partial owner and irrevocable beneficiary of the policy. Please contact us if you have already designated Rainforest Trust in your Life Insurance policy, or if you have any questions about planning your estate.