In a Will or Living Trust
One of the most meaningful tasks a person will undertake during their lifetime is the creation of their last will and testament. It details our most interesting possessions, acknowledges those we love the most, and makes a final statement about the values we hold most dear. Many FAIR Legacy Society members – those members who have remembered FAIR in their estate plans – have included provisions for FAIR because they recognize that a gift to FAIR is a gift for common sense immigration for America. FAIR, more than any other organization of its kind, has the experience, expertise, and reputation to protect our environment and fight for sensible immigration laws.
Your bequest can deliver a specific dollar-amount, stocks, or a percentage of your estate to FAIR. Such a bequest or trust distribution may reduce the taxable value of your estate for federal estate purposes and can be exempt from state inheritance taxes.
A bequest is easy to arrange (see sample text below) and does not affect your assets during your lifetime, but it helps ensure that FAIR will continue to fulfill its mission for future generations of Americans.
Specific Amount or Percentage of Estate
“I give, devise, and bequeath to the Federation for American Immigration Reform (FAIR), Washington, DC (Tax Identification number: 52-1136126) the sum of ___ dollars ($___) (or a percent of the residue of my estate) or (other personal or real property appropriately described) to be used to further the mission of FAIR.”
Stocks or other Securities
“I give, devise, and bequeath to the Federation for American Immigration Reform (FAIR), Washington, DC (Tax Identification number: 52-1136126), ________ shares of ________stock to be used to further the mission and of FAIR.”
A living trust (sometimes called an “inter vivos” or “revocable” trust) is a written legal document through which your assets are placed into a trust for our benefit during your lifetime and then transferred to designated beneficiaries at your death by your chosen representative, called a “successor trustee.”
A last will and testament is a written legal document with a plan of distribution of your assets upon your death. Your executor, as named in the will, oversees this process, and notably, nothing in your will takes effect until after you die. The main advantage of a living trust over a will is a living trust avoids probate.
Please consult your attorney, accountant, or other tax advisor for the planned giving instrument that works best for you and your family.