Planned giving provides you with a variety of opportunities to support SPOP in a meaningful way as part of your estate planning goals.
Wills and Bequests
By including SPOP in your will, you can make a meaningful donation while having full use of your funds during your lifetime. A bequest may also help reduce estate taxes.
- A bequest to SPOP can be:
- A specific dollar amount (for example, “I give the sum of $ [x] to the Service Program for Older People, Inc.”);
- A specific bequest of property (for example, “I give 100 shares of my ABC stock to Service Program for Older People, Inc.”);
- A portion or all of the remainder or residue of your estate (for example, “I give [x] % of my residuary estate to Service Program for Older People, Inc.”); or
- A contingent bequest (for example, “If neither my husband nor my children survive me, I give to Service Program for Older People, Inc.” the sum of $ [x]”).
If you wish to remember SPOP in your will, we recommend you consult with your attorney.
Gifts of Securities
When you give long-term appreciated securities to Service Program for Older People, Inc., it may have significant financial benefit for you. You can qualify for both an income-tax deduction for the full market value of the stock and you may also avoid paying capital gains tax on the appreciated value. You should consult with your tax advisor for specific information.
There are many estate assets that can be transferred outside of your will. These can include retirement accounts (401(k), 403(b) or other plans), life insurance policy proceeds, and bank and brokerage accounts. This can be done by listing Service Program for Older People, Inc. as a beneficiary or as a contingency beneficiary. If left to an individual, these funds can be subject to both estate tax and income tax, which can significantly reduce the value of these assets. If left to a charity, these taxes can usually be avoided.
To name Service Program for Older People, Inc. as a beneficiary you will need to list our tax identification number, which is 13-2947616.
To learn more about planned giving opportunities please call (212) 787-7120 ext. 135.