LEGACY GIVING
By giving a legacy gift, you can help ensure that Elmbrook Humane Society, Inc. will continue to provide shelter for homeless animals, promote the human animal bond, and prevent animal cruelty and neglect—far into the future.
Gift planning should be part of your overall estate plan, which is designed to provide critical financial resources for you and your family and to also identify how you wish to provide a permanent legacy for Elmbrook Humane Society, Inc. It is important that you meet with trusted estate planners such as an attorney, accountant, or financial advisor to accomplish this.
Your Will
The cornerstone of an estate plan is a properly written will. Through your will, you may make a gift to Elmbrook Humane Society, Inc. without tapping into your personal assets during your lifetime.
- You may identify a percentage of your estate or a specific dollar amount or asset you wish to give, or
- Make a residual bequest which specifies that after all your heirs and beneficiaries have received their distribution, the remainder of your estate is given to Elmbrook Humane Society, Inc., or
- Make a contingent bequest which specifies that if all your heirs and beneficiaries have passed before you, your estate or a portion of it is given to Elmbrook Humane Society, Inc.
If you choose to include Elmbrook Humane Society, Inc. in your will, it is important that you use the full name and street address for our agency. This will help your executor and attorney with the distribution you have planned. Our address is:
Elmbrook Humane Society, Inc.
20950 Enterprise Ave.
Brookfield, WI 53045
FEIN# 39-6091712
Life Insurance
Life insurance may be an excellent way to make a substantial gift to Elmbrook Humane Society, Inc. One of the easiest ways is to name Elmbrook Humane Society, Inc. as a beneficiary of an existing insurance policy. As with a will, you may give a percent of the value of the policy or the entire policy.
If you have an existing policy which is no longer needed you may want to consider transferring the ownership of the policy to Elmbrook Humane Society, Inc. If the policy premiums are paid in full there is no cost to you or Elmbrook Humane Society, Inc. and you generally are eligible for an income tax deduction.
There are other ways to use life insurance as a part of your gift planning. You may discuss the options with your financial advisor or attorney.
Qualified Retirement Plans
Using a qualified retirement plan asset such as a 401(k), 403(b), IRA, Keogh, TIAA/CREF, or other pension plan may provide another gift option. Since, after your death, these assets are heavily taxed when they are transferred to anyone other than your spouse, gifts to the individuals you designate are greatly diminished. You may prefer to name Elmbrook Humane Society, Inc. as a beneficiary of a portion of your remaining plan assets. This would enable you to make a charitable gift – free of estate and income taxes – after your death.
