WHERE THERE’S A WILL
A long-time SJPT member called recently to ask a great question. We’ll call her Joan—not her real name. Her husband’s name is “Ted.”
“Ted and I have been talking,” Joan said, “and we’d like to join the Gann Society. There’s just one problem. We recently went through an elaborate estate-planning process with our attorney and don’t want to change our wills right now. Is there an easier way to leave a legacy gift?”
Indeed, there is. It’s as simple as designating The San Juan Preservation Trust as a beneficiary of an individual retirement account (IRA), a 401(k) account, or other retirement savings plan. This can even be done online, if your IRA or 401(k) is held in an account to which you have Web access.
Because these assets are highly taxed when left to heirs, it can make good sense to donate them (tax-free) to a charity such as the Preservation Trust, while leaving more favorably taxed assets to heirs.
Joan and Ted are now Gann Society members, happy to know that they will leave a lasting legacy toward preserving the special island places they have treasured all their lives. All it took was a virtual visit to their online IRA account.
Contact Barbara Courtney, Director of Philanthropy, for more details (call 360-376-2431 or email email@example.com).