A planned gift to YES ensures better futures for thousands of youth and families. Help us continue our work of helping every young person discover and utilize their unique gifts and talents.
Planned giving can be remarkably easy. There are several ways to include YES in your estate planning that often require little paperwork, and can be changed as needed. Some of the most popular are described below.
Bequest
You may designate YES as a beneficiary of a specific dollar amount or a percentage of your estate. A bequest can be either donated outright or contingent upon the passing of a named benefactor. You can make a lasting impact and realize an estate tax charitable contribution deduction which may reduce the tax burden for your family.
For your convenience, we have included sample language to share with your legal advisor:
Specific sum of money
Suggested language: “I give to YES, currently located at 999 164th Ave NE, Bellevue, WA 98008, or its successor organization, the sum of (amount)…”
Specific property
This may include real estate, stocks, bonds, jewelry, works of art, or other items. Unless the property is useful to YES, it will be sold, and the proceeds, less any appraisals and selling costs, applied per the terms of the bequest.
Suggested language: “I give to YES, currently located at 999 164th Ave NE, Bellevue, WA 98008, or its successor organization, (description of property)…”
Rest and residue of estate
Under these circumstances, YES is given all or a percentage of what remains of the estate after paying debts, taxes, expenses, and other bequests.
Suggested language: “I give to YES, currently located at 999 164th Ave NE, Bellevue, WA 98008, or its successor organization, all (or stated percentage) of the rest, residue, and remainder of my estate…”
Contingent bequest
This gift takes place only if the Testator is not survived by certain individuals.
Suggested language: “If (name/s of primary beneficiary/ies) do/es not survive me, or shall die within ninety (90) days from the date of my death, or as a result of a common disaster, then I give to YES, currently located at 999 164th Ave NE, Bellevue, WA 98008, or its successor organization, (describe amount of cash, property or percentage of residual estate)…”
Life insurance
If you no longer need your life insurance policy, and you would like a way to reduce the size of your estate, you can name YES as the primary beneficiary of your policy. By doing so you can realize a federal estate tax deduction while helping YES continue to serve our community.
Retirement assets
You can select YES to be the sole or partial beneficiary of your IRA, 401k plan or other retirement plan. As a tax-exempt organization, YES will not pay income tax on your gift, and will receive the full amount to continue vital programs and services.
Recognition
YES recognizes individuals who provide for our future work through their estate plans. After you notify us that you have included YES in your plans, we will welcome you to the YES Legacy Society. During the year, we will send you invitations to special gatherings, and recognize you in the annual report, unless you prefer to remain anonymous.
Disclaimer
The information here is not intended as legal or tax advice. For such advice, please consult an attorney or tax advisor. Figures cited in examples are for hypothetical purposes only and are subject to change. References to estate and income taxes include federal taxes only. State income/estate taxes or state law may impact your results.
To notify us of a gift and join YES’ Legacy Circle, or to discuss the best gift option for you, please contact Lisa Hay, Chief Advancement Officer at 425-586-2328 or lisah@youtheastsideservices.org
