The Lynchburg Humane Society has created a Legacy Society for friends who want to include care of our orphaned animals in their long-term charitable planning. Our Legacy Society is for supporters who have decided to establish a legacy of support at the Lynchburg Humane Society. A simple way to become a member is to remember the Lynchburg Humane Society in your will or estate plans. Through your generosity, you will help guarantee life to homeless pets for many years to come.
Many other options which can provide you with tax benefits exist for legacy giving. Through a legacy gift, you may be able to increase your current income or provide additional retirement income, while reducing or avoiding income, estate, and capital gains taxes. It is important to discuss options with your financial planner or attorney so that both you and the homeless pets at the Lynchburg Humane Society receive the full benefit of a legacy gift.
If you are already speaking to your attorney about your legacy and would like to include us in your will, our legal name is Lynchburg Humane Society Inc and our tax ID number is: 54-0570901. Please contact [email protected] and let us know your plan so we can recognize you properly.
Options for Creating a Legacy at the Lynchburg Humane Society:
- Support the Lynchburg Humane Society with a Bequest Gift by leaving all or a portion of your estate to help our homeless animals in need. A bequest is a simple and flexible way to leave a legacy of support at the Lynchburg Humane Society. It costs you nothing during your lifetime, but will help ensure the future of our organization for years to come. You can leave a bequest to the Lynchburg Humane Society by naming us in your will or through one of these other options:
- List the Lynchburg Humane Society as the beneficiary of your IRA. This provides a meaningful, substantial gift for our homeless animals through an asset that could be taxed up to 80% if you leave it to a loved one.
- Name the Lynchburg Humane Society as the beneficiary of your life insurance policy.
- Establish a Charitable Remainder Trust. This provides you with income for life, but this income has the potential to increase as the trust grows over time. This legacy gift also provides flexibility in the number of beneficiaries and many other options.
- Establish a Charitable Lead Trust, which works in the reverse manner of a Charitable Remainder Trust. The donor establishes a trust, receiving a tax-deduction at that time, and designates a charity to benefit from payments for a fixed number of years. At the end of that time, the trust is left to your designated heir.
- Gifts of Real Estate or Residence, a vacation home, acreage (even a farm) or an unimproved parcel of land may have appreciated so significantly in value that its sale by you would generate a substantial income tax burden. By making a gift of a full or partial interest in real estate to the humane society, you will avoid tax on the long-term capital gain and generate an income tax charitable deduction for the full fair market value of the property. It is also possible to make a gift of your primary residence or second home while retaining an exclusive life estate so that you (and your spouse) can continue to use it for the rest of your lives while obtaining significant tax and estate planning benefits.
To establish a legacy please contact your financial adviser or your attorney. Our legal name is Lynchburg Humane Society Inc and our tax id is: 54-0570901
For questions about the Legacy Society email [email protected] or call Michelle at 434-448-0088 ext. 122