Planned Giving
Tax of Planned Giving
Planned giving not only allows you to support Nelson SPCA in a meaningful way, but it also offers significant tax benefits. By including charitable donations in your estate plans, you can reduce your taxable income, potentially lowering your overall tax liability and ensuring that more of your assets go toward the causes you care about rather than to taxes.
Consult with a financial advisor or tax professional to fully understand and maximize these benefits. This will guarantee that you’re creating a lasting legacy of compassion and care for animals in need.
Various Approaches to Planned Giving
Below are several options for legacy contributions that allow you to meaningfully support Nelson SPCA. Your contribution ensures that we can continue our mission of rescuing, rehabilitating, and rehoming animals in need for years to come.
Will or Revocable Trust
You can make a bequest through your will or revocable trust in several ways:
- Specific Bequest – Designate Nelson SPCA as the beneficiary of a specific dollar amount, a percentage of your estate/trust, or your entire estate/trust.
- Residuary Bequest – Designate Nelson SPCA as the residual beneficiary of your estate/trust. After all other bequests have been made and all administration is complete, the residuary (remainder) of your estate/trust passes to Nelson SPCA.
- Contingent Bequest – Designate Nelson SPCA as a contingent beneficiary of your estate/trust. Should your named beneficiaries not survive you, your estate/trust passes to Nelson SPCA.
These bequests may be unrestricted or designated for the benefit of a specific program, such as the Help to Heal Fund or the Spay/Neuter Program.
Charitable Trust
A charitable trust is a separately invested irrevocable trust established for charitable purposes:
- Charitable Lead Trust – This type of trust pays the current income from the trust to Nelson SPCA for a specific period of years, with your named beneficiaries receiving the remaining balance of the trust upon termination.
- Charitable Remainder Trust – This type of trust pays the current income from the trust to your named beneficiaries for a specific number of years, with Nelson SPCA receiving the remaining balance of the trust upon termination.
Pet Trust
Virginia Code Section 64.2-726 permits a trust to be created for the care of your pet(s) during your lifetime. A pet trust is very similar to a “human” trust in that it is a legally sanctioned arrangement providing for the care and maintenance of your pet(s) in the event of your disability or death. Nelson SPCA may be designated as the residuary beneficiary of your pet trust.
Retirement Plans and IRAs
You can support Nelson SPCA by naming it as a beneficiary of your retirement plans or IRAs. This option allows you to make a significant gift while potentially reducing the tax burden on your estate.
Life Insurance Policies
You can name Nelson SPCA as a beneficiary of your life insurance policy. This is an easy and impactful way to contribute to our mission.
Donor-Advised Funds
A donor-advised fund (DAF) allows you to make a charitable contribution, receive an immediate tax deduction, and then recommend grants from the fund over time.
Real Estate and Personal Property
Donating real estate or personal property to Nelson SPCA can make a substantial impact. This type of gift can provide significant tax benefits and support our mission in a meaningful way.
Endowment Fund
Consider contributing to or establishing an endowment fund to provide a lasting source of support for Nelson SPCA. Endowment funds are invested, and a portion of the earnings supports our ongoing needs.
Simple Steps to Make a Lasting Impact
Thank you for Your Kindness and Commitment to Making a Difference
We are deeply grateful for your generosity and compassion. Because of donors like you, countless animals receive the care and love they deserve, and we can make a lasting impact on their lives.
Your contribution not only helps us meet immediate needs but also ensures a brighter future for animals for years to come. Thank you for partnering with us to create a brighter future for these deserving pets.