fbpx

Leave a Legacy

The Legacy League has been established to recognize and honor those who have provided for CASA of Santa Barbara County in their estate plans. We cordially invite you to join the distinguished group of supporters. As a member of the Legacy League, you will receive exclusive event invitations, updates from the Executive Director, and special acknowledgement as somone who has helped future generations of foster children in Santa Barbara County.

Making a Planned Gift While Achieving Your Goals

By joining the Legacy League, your foresight and planning help ensure that generations to come will benefit from the values that are most important to you. When you create this wonderful legacy, you may also reduce your current or future tax burden, increase your income and meet your or your family’s own personal and financial objectives.

CASA of Santa Barbara County will work with you and your tax or financial advisor to help determine which type of gift is best for you.

 

Maintain flexibility by planning now for a revocable gift:

  • Wills and Living Trusts
  • Retirement Plans
  • Life Insurance

Make the gift now and get immediate tax benefits:

  • Gifts of Stock or Mutual Funds
  • Gifts of Appreciated Real Property

Gift Planning: Ways to Give

 

Wills

A charitable bequest in your will or living trust is a simple yet effective way of providing for CASA of Santa Barbara County while holding assets throughout your lifetime. When drafting a will, there are various types of bequests for different needs.

 

Specific Bequest

Name CASA of Santa Barbara County the beneficiary of a stated amount of money, a particular piece of property, or a stated percentage of your estate.

 

Residuary Bequest

Designate CASA of Santa Barbara County to receive all or a portion of the remainder of your estate once all specific bequests to family and friends have been satisfied.

 

Contingent Bequest

Often, individuals provide that assets should go to family members or friends. However, it is important to provide for a contingent beneficiary to receive assets in case your primary beneficiaries predecease you. Bequests to CASA of Santa Barbara County are deductible from your gross estate and can, therefore, offer savings on estate taxes. There is no limit on the amount you can leave to CASA of Santa Barbara County or to other charitable organizations through your will. It’s easy to make a gift to CASA of Santa Barbara County through your existing will. Your attorney just adds a codicil to it using simple bequest language.

 

Trusts

A trust can be modified through a procedure called an “amendment”. Contact your attorney to amend your trust when you want to change or add beneficiaries, change the disposition of assets in the trust or change trustees.

 

Retirement Plans

Retirement Plans, when passed on to heirs, may incur as much as 60% or more in taxes because this asset faces double taxation. Not only could the amount of the plan be reduced by estate taxes, but the recipients must also pay income tax on the plan. If you plan to make a legacy gift to CASA of Santa Barbara County, consider naming CASA of Santa Barbara County as the beneficiary of your IRA, 401 (k), pension or other retirement plan and leaving your other assets to your family. Naming CASA of Santa Barbara County as the primary beneficiary avoids all income and estate taxes on your retirement plan. To make the designation, advise your plan administrator of your decision then complete and sign the appropriate form.

 

Other Types of Planned Gifts

Please contact CASA of Santa Barbara County for information on other types of planned gifts including Charitable Remainder Trusts and Life Insurance Policies.