You can personally support the El Paso Community Foundation’s mission, projects, and services by leaving a bequest in your will, living trust, or within a codicil. This will allow you to continue enjoying your assets, and then leave them to the charity of your choice when you pass. And, more importantly, it will allow you to have a lasting impact on the El Paso community.
This is a gift you leave for someone else in your will. It’s one of the simplest gifts to make. With your professional advisor, you can add language to your will or trust specifying that a gift be made to the El Paso Community Foundation as part of your estate plan.
Retirement accounts, which include pension plans, profit sharing plans, stock bonus plans, Keogh Plans, 401(k) plans, and Individual Retirement Accounts (IRAs), will generate tax consequences at your passing. These tax consequences mean they can be an effective vehicle for charitable giving.
Also known as a Short Term Charitable Trust or a Reversionary Living Trust, this is a trust that is irrevocable for a specific number of years with the income being paid to a charity during the term. There is a provision for the property to revert to the trustor at the end of the term.
This type of trust allows you to transfer assets to a trust, which will pay a fixed income to a predetermined beneficiary, in the form of an annuity. The value of the annuity is a percentage of the asset’s initial value, and no less than five percent. The trust remains until your passing, at which point the remaining funds will be donated to your pre-selected charity.
This trust is remarkably similar to the charitable remainder trust. However, the income is a percentage of the fair market value of the asset and is calculated annually.
This is the designation of a charitable organization as the beneficiary of a life insurance policy; assignment of ownership of a policy to charity; or a gift to charity of a partial interest in a policy.
This contract allows you to transfer the title of your home or family farm to a charity, while reserving yourself the right to live in or on the property and receive all income therefrom. At your passing, the property becomes the property of the designated charitable organization.