By establishing a planned, or estate, gift, you are ensuring that like your legacy, you will be creating a Mentally Healthier Colorado in perpetuity! Please be sure to designate if you would like your planned gift to go to annual operating support, or if you would like it to be invested in our endowment supporting the organization over the span of many lifetimes.
Types of bequests
- Cash Bequest – receives a specific dollar amount from your estate.
- Bequest of Property – receives specific assets, such as securities, real estate, or tangible personal property.
- Residuary Bequest – receives all or a percentage of the remainder of your estate after the payment of any specific bequests and expenses.
- Retirement Plan – is designated as a beneficiary of the remainder of your IRA or qualified pension or profit-sharing plan. Distributions from retirement plans at the death of the survivor of the account-holder can be subject to both income and estate taxes. In a large estate, these taxes can leave less than 30 cents on the dollar of the plan’s balance for your children or other heirs.
By naming Maria Droste Counseling Center as the beneficiary of the remainder of your retirement plan, 100 percent of the plan’s balance is available for Maria Droste Counseling Center’s use, since the distribution avoids both income and estate taxes.
Benefits of a Bequest
Federal Estate Tax savings
An outright gift to Maria Droste Counseling Center (EIN 84-11-82-130) from your estate—whatever the amount, and whether it is expendable or for endowment—is entirely free from federal estate taxes. This means the Maria Droste Counseling Center is able to use the full amount of the bequest, whereas if it were left to an individual, a significant amount might go to federal estate taxes. Also, bequests generally are not subject to state inheritance or estate taxes.
Donate in the memory of a loved one
Support mental health in Colorado by donating in the memory of a loved one. You may create a separate fund named for yourself or in the name of someone you wish to honor. Named funds remain visible in the Maria Droste Counseling Center community because of the people and activities they support. This visibility also encourages others to give.
It is important that you consult with a member of the Development staff regarding minimums for named endowed funds.
To make a donation through Planned Giving:
You must notify your plan’s administrator
A “change of beneficiary” form will be required
Sample Beneficiary Designation Language for a Spouse and :
“The beneficiary is my spouse as long as he/she survives me. The beneficiary of any amount(s) remaining in the plan after the death of my spouse, or of the entire amount in the plan upon my death if my spouse does not survive me, or of any portion thereof that my spouse may disclaim, is Maria Droste Counseling Center (EIN 84-11-82-130), for the benefit of the endowment.”
- Lead Trusts – A lead trust can be established through a bequest. receives income for a term of years from the trust, after which the assets pass to your beneficiaries, often at a much-reduced tax cost.
Following is Sample Language for a Bequest to Maria Droste Counseling Center
“I give ( _____ dollars or _____ percent of the residue of my estate) to the Maria Droste Counseling Center (EIN 84-11-82-130) a charitable corporation (for its general purposes) or (for the benefit of the organization’s endowment).”
Other assets you can give
There are many assets that may be used to fund a significant gift to Maria Droste Counseling Center, including:
- appreciated securities
- real estate
- personal property
- business interests
- retirement plans
- life insurance
- copyrights
- royalties
- patents
- assignment of contractual income rights
- oil and gas interest
If you have questions on these items or others, please contact our donations coordinator.