You can support the National Aviary by:
The National Aviary encourages unrestricted gifts. However, gifts may be either restricted or unrestricted.
Your Will… prominent in your estate plan
The will is the cornerstone of most estate plans. It is an important document that directs the distribution of your property in accordance with your wishes at your demise. In general, your will can establish trusts for beneficiaries who may lack the ability or desire to manage and budget an inheritance, name guardians for loved ones who depend upon you for assistance, and direct bequests to those individuals and organizations you wish to benefit.
What if you want to make a bequest but already have a will?
You need to call your attorney and advise him/her of your interest in making a bequest to the National Aviary. In most cases, a bequest may be created by adding a codicil to your existing will. A codicil republishes your existing will and can add other provisions, such as a bequest. Once your bequest has been made, you may have your attorney notify us or simply contact us yourself.
A General Comparison:
Charitable Remainder Trust (CRT)
This is an irrevocable and tax-exempt charitable trust that pays an annual income to at least one individual for his/her lifetime or for a term of years. At the termination of the trust, a named charitable beneficiary(ies) receives the assets remaining in the trust. A charitable remainder trust may be created during your life or at your death. Numerous statutory regulations govern this type trust.
Charitable Lead Trust (CLT)
In terms of how it works, the CLT can be thought of as the opposite of the CRT. The trust pays an annual income to a charity or charities either over your life or for a term of years. At the termination of the trust, assets remaining in the trust may be distributed to you or to another individual [or individuals] of your choosing. The lead trust may be created during your life or at your death. The lead trust is not a tax-exempt trust. A CLT may be either a statutory lead trust of a donor (grantor) lead trust.
A gift of all or a portion of the proceeds of a life insurance policy is a way of leaving a legacy to the National Aviary. To complete such a gift, you will need to obtain and forward a completed Change of Beneficiary form to the carrier that issued the policy. Alternately, you may also make a gift of life insurance to the National Aviary by naming it both the owner and beneficiary of the policy (permanent/whole life insurance only). In addition to the beneficiary change form, you will also need a Change of Ownership form. If you would like a current charitable income tax deduction for the gift, its value must also be established.
IRAs and Other Retirement Accounts
Naming the National Aviary as a beneficiary of some or all of the assets in an individual retirement account (IRA), a 401(k), a 403(b), or other similar plan may be a tax-efficient gift that enables you to achieve your personal and charitable objectives. In many instances, completing a new Beneficiary Designation Form may be all that is required. (If you are married, your spouse may need to consent to the transfer.)