Make A Bequest In Your Will

Members of The Gann Society are those who have made a provision in their will to leave a legacy through a bequest or other planned gift. Each of these gifts, whatever the size, serves as a permanent legacy in the San Juan Islands.

A charitable bequest through a will is the easiest legacy gift to establish. The following bequest language offers several choices for you and your attorney to consider:

“I hereby give, devise and bequeath to The San Juan Preservation Trust, a non-profit charitable organization with offices in San Juan County, WA, federal tax ID #91-1078355,

•    … (the sum of $_____) or (____ percent of my estate) or (specific items of property)…

OR

 •    …all (or indicate a specific dollar amount) of the rest, residue and remainder of my estate…

…as an unrestricted gift to be used at the discretion of its Board of Trustees who may determine how best to apply such gift towards the work of the Preservation Trust (or for specific purpose).”

A contingent bequest provides for the disposition of the estate if one or more of the named beneficiaries fails to survive the donor. It may be used in conjunction with a specific bequest or a residuary bequest.

“If any of the above-named beneficiaries should predecease me, I hereby bequeath his or her share to The San Juan Preservation Trust, a non-profit charitable organization with offices in San Juan County, WA, federal tax ID #91-1078355, as an unrestricted gift to be used at the discretion of its board of trustees who may determine how best to apply such gift towards the work of the Preservation Trust (or for specific purpose).”

In addition to bequests, there are other mechanisms for making a legacy gift:

 - You may name the San Juan Preservation Trust as a beneficiary of your Individual Retirement Account (IRA), other retirement account or life insurance policy.

- Property owners might consider donating a conservation easement to ensure that natural values on their land will be permanently protected while allowing their heirs to enjoy or sell the property. In some cases, estate taxes can force heirs to contemplate selling beloved family properties. In these situations, representatives of an estate may grant a post-mortem conservation easement on property, thereby significantly reducing estate taxes.

- “Remainder interest” and “life estate” gifts allow a donor to make a gift of property to a charity while continuing to enjoy it. For example, a donor may enter into an agreement whereby he gives his home to the Preservation Trust while retaining the right to reside in the home throughout the duration of his life. The Preservation Trust may then retain the property for conservation purposes or sell it, providing the resources to protect more land in the future.