Bison Legacy Society
Plan Now – Give Later – Lasting Impact
Bequests and other testamentary gifts by generous friends have been a significant source of financial support for National Park Trust for over 30 years. The continuation and expansion of this tradition of remembrance will contribute to National Park Trust’s future financial strength and ongoing excellence in park stewardship and outdoor education.
Although it costs you little or nothing now, a gift through your will or other estate arrangements will support NPT’s programs’ continued growth. That means:
- More park land and more park stewards to ensure the longevity of the parks and to guarantee more under-served students experience them.
- Your values around your love of the parks and creating park stewards for the future continue forward.
- You might be able to give more than you ever thought possible, with no loss now, and with estate tax benefits*.
Tips for your Legacy Gift:
- Choose a gift that fits your personal situation. For example, you may wish to choose to take care of your loved ones first, and then name NPT to receive a residual bequest or a percent of your estate. Examples of common gift types and sample language are listed below.
- Include the National Park Trust tax ID and address as follows on any gift documents, and share it with your advisors:
National Park Trust, Inc.
401 East Jefferson Street, Suite 207
Rockville, MD 20850
Tax ID: 52-1691924
*Always consult with your own financial or legal advisors about your gift.
Types of gifts:
Bequests: A dollar or percentage amount given through your will or trust
Bequests are charitable donations usually made through a will or trust. Whether single, married, divorced or widowed, you will need a will to distribute your assets to meet your wishes. First, you would provide for your loved ones, and any other priorities you may have. After that, you may wish to include a bequest to support NPT’s work. Bequests can be written to suit your exact intentions. For example, you can:
- Make a bequest of a specific amount of money of number of stock shares
- Make a bequest that is contingent on certain conditions, such as a loved one predeceasing you
- Make a bequest of all, or a percentage of the estate’s remainder, after your will’s designated distributions are satisfied
This sample language is meant for general guidance only and should not be construed as legal advice. Donors should always consult their own professional advisors regarding provisions of their bequests. We welcome you to share this page with your advisors and family. If you have any questions, please contact Maryann Kearns, director of development, at firstname.lastname@example.org; or call 301.279.7275 ext. 15. Again, thank you for considering the Natonal Park Trust in your estate plan.
Specific Bequests are gifts of a specific dollar amount or a particular asset.
“I give, devise, and bequeath to the National Park Trust (NPT), the sum of $________ (or a description of the specific asset, such as stock shares, or a financial account), for the benefit of NPT to be used for its general purposes. NPT is a nonprofit organization located at 401 E. Jefferson St., Suite 207, Rockville, MD 20850 and their tax identification number is 52-1691924.”
Contingent Bequests leave a portion of an estate to a particular charity if a named beneficiary does not survive the donor.
“I devise and bequeath the residue of the property, real and personal and wherever situated, owned by me at my death, to (name beneficiary), if (she/he) survives me. If (name of beneficiary) does not survive me, I devise and bequeath my residuary estate to the National Park Trust (NPT), for its general purposes. NPT is a nonprofit organization located at 401 E. Jefferson St., Suite 207, Rockville, MD 20850 and their tax identification number is 52-1691924.”
Remainder Bequests are satisfied from the portion of assets that remain after other terms of the will have been met, and may be for a set amount or a percentage.
“All (or ___%) of the rest, residue, and remainder of my estate, both real and personal, I give to the National Park Trust (NPT), for its general purposes. NPT is a nonprofit organization located at 401 E. Jefferson St., Suite 207, Rockville, MD 20850 and their tax identification number is 52-1691924.”
Restricted Bequests include language that restricts the funds to a specific use. To designate a particular use for bequest assets, replace the “general purposes” language in the illustrations above with the specific purpose, project or issue for which the funds may be used.
“…to the National Park Trust for (state the purpose). If at any time in the judgment of the trustees of NPT it is impossible, impractical or inadvisable to carry out exactly the designated purpose, they shall apply such funds for NPT’s general purposes. NPT is a nonprofit organization located at 401 E. Jefferson St., Suite 207, Rockville, MD 20850 and their tax identification number is 52-1691924.”
Financial Accounts: A portion of what remains in your checking, savings, or other account(s)
Many bank and investment accounts allow you to designate a beneficiary for receipt of the funds after your lifetime. Such “payable-on-death” accounts (sometimes known as “POD” accounts) would allow your gift to pass to the NPT outside of probate, saving time, publicity, and expense. Usually a simple beneficiary designation form available from your fund administrator is all you need to establish this gift.
Retirement Plans: Part or all of your IRA or other plans (may avoid double taxation)
Your IRA or other retirement plan can be a tax-wise source for your charitable gift because when left to individuals such plans can be taxed twice: first, as part of your estate, and second, as income to the recipient. This double taxation can greatly reduce what loved ones receive from an IRA. However, if you instead leave your retirement funds to a charity like NPT, there is no tax and the full value of your IRA goes to work for good purposes. Simply obtain a beneficiary designation form from your fund administrator or from the fund’s website. These forms are usually quite brief and easy to complete.
Life Insurance: Policies that are paid up but no longer needed
There are several ways in which the proceeds of a life insurance policy may be contributed to the National Park Trust. For example, you may irrevocably assign the assets of a paid policy to NPT, or you may name NPT as a primary or contingent beneficiary of the proceeds and whether this option might be right for you.
Charitable Trust: Pays you income then benefits NPT after your lifetime
Charitable trusts are irrevocable trusts that pay you or a loved one income for life, with the remainder going to NPT. They provide an immediate tax deduction to the donor, as well as possible capital gains tax savings over the term of the trust. Please click here to contact us for more information and talk with your proffessional advisors about this opportunity.
*Note: NPT will not serve as trustee of any charitable trust.
A Community of Forward Thinkers: The Bison Legacy Society
We invite you to become a Founding Member of the Bison Legacy Society. This group is comprised of extraordinary people who provide future support for the National Park Trust through bequests, charitable remainder trusts, and other life income gifts. Gifts from your estate complement your annual gift by enabling future generations to experience the beauty of the parks – providing more impact than you ever thought possible and inspiring others to do the same. Those who notify us by December 31, 2017 of their plans to include us in their estate will be recognized in perpetuity as founding members of the Bison Legacy Society.
To become a Founding Member or to learn more about the Bison Legacy Society, contact Maryann Kearns, director of development, at email@example.com; call 301.279.7275 ext. 15, or fill out the online form here. Have you already included us in your estate plans? Please let us know so that we may thank you personally and recognize you as a Founding Member.
*Always consult with your own financial or legal advisors about your gift.