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Planning your estate is a terrific way to make a lasting contribution to SMYAL while taking advantage of favorable federal and state tax laws. Your gift can reduce your income taxes including capital gain as well as
reduce transfer taxes including gift and estate
- Bequests: Leave SMYAL a gift through your will or revocable living trust
- Name SMYAL as Beneficiary: Designate SMYAL as beneficiary of your bank account, retirement and pension plan, or insurance policy.
- Appreciated Assets: Donate securities (i.e. stock), personal property, real estate, and insurance policies.
By including SMYAL in your will or estate plan, you can help ensure that gay and lesbian youth always have a safe place to be who they are. Bequests have already helped SMYAL begin building its very first endowment (though not all bequests are used that way). Your gift will help SMYAL build its capacity to serve a growing population of gay and lesbian youth.
There are several types of bequests that allow you to designate your estate in accordance with your financial and charitable goals:
Specific Bequest
You describe exactly what you want to leave to a family member or charity. If you want to leave a specific amount or if you have a particular item (such as an antique or collector's item) you would like to leave to someone, this is the type of bequest that you would use.
Residuary Bequest
This type of bequest is honored after all other bequests have been made, and all debts, expenses and taxes have been paid.
Contingent Bequest
This type of bequest is fulfilled if certain conditions are met. For instance, if your primary beneficiary does not survive you, you can indicate your next choice through a contingent designation.
If you decide to include SMYAL in your estate plan, SMYAL should
be named as: Sexual Minority Youth Assistance League (SMYAL),
a nonprofit corporation, organized and existing under the laws
of the District of Columbia, and with principal business address
of 410 7th Street, SE Washington, DC 20003.
*This information is provided for your reference only and is not intended as legal or financial advice. We strongly recommend you consult a qualified legal or financial advisor before making a bequest. Before supporting a particular program, it is crucial to make sure that the SMYAL understands and can fulfill your specific wishes.
For questions regarding donations, contact:
Kelly Simon
Director of Development
202.546.5940 ext. 109
kelly.simon@smyal.org
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