Your Legacy. Your Way.
Planning your legacy can be complex on many levels. Planned gifts allow you to make substantial contributions to secure the future of the Yampa Valley that generally offer tax benefits and allow you to change your mind at a later date without affecting your current financial situation. This partial list provides an overview of some ways you can help establish your personal legacy in the Yampa Valley. The information set forth below does not constitute tax or legal advice. You should be sure to consult your attorney, financial advisor or estate planner to determine the right approach for your situation.
For additional information on making a planned gift to the Yampa Valley Community Foundation, visit here.
To learn more about the Sleeping Giant Society, visit here.
These options can be performed in a few minutes with easy-to-complete forms obtained from the company that administers your plan, policy or account. They are the easiest options for making a legacy gift to the YVCF.
Retirement Plan Beneficiary Designation. Consider listing the YVCF as a percentage beneficiary of an Individual Retirement Account (IRA), workplace-sponsored retirement plan or other retirement accounts. Even a small designation for charity (1%-5%) can result in a substantial legacy gift. Due to taxes, the balance of your retirement account may be worth much more to the YVCF than to your heirs.
Life Insurance Policy Beneficiary Designation. Consider making the YVCF a percentage beneficiary of a life insurance policy, or make the YVCF a contingent beneficiary that will only be paid out if all of your primary beneficiaries are no longer living. Some companies provide employees with a small life insurance policy. If your dependents are already covered by another, more generous life insurance policy, consider making the YVCF beneficiary of the workplace life insurance policy.
Payment/Transfer on Death Beneficiary Forms. Non-retirement investments (eg. stocks, bonds, securities) and bank accounts can in some states be transferred directly to charities upon death using a “payable-on-death” (POD) or “transfer on death” (TOD) form.
Wills and trust documents are among the most common tools utilized to leave money to charitable causes. Preparing these documents generally involves the use of attorneys, estate planners or other financial planners.
Wills, Trusts and Estate Plans. Several bequest types can be used to donate assets to the YVCF through your will, or revocable trust. Options include giving the YVCF a set dollar amount, a specific percentage of your estate, the residual amount remaining after other bequests have been paid, or only if your primary dependents do not survive you. When filling out your legacy gift forms and documents, please reference: “The Yampa Valley Community Foundation, located in Routt County, Colorado.” Our federal tax identification number is 84-0794536
It is always a good idea to share your bequest plans with the YVCF to ensure that the language used will reflect your wishes.
An alphabet soup of acronyms exists to cover increasingly complicated estate planning tools, including Charitable Remainder Trusts (CRT), Charitable Gift Annuities (CGA), Charitable Lead Trusts (CLT) and many others. Have your attorney or estate planner contact the YVCF if you are interested in setting up one of these accounts.
Being involved with the Yampa Valley Community Foundation, I know this a good place to establish a legacy. As the Yampa Valley continues to grow, a segment of our population’s needs also will continue to grow. This is the population my legacy will serve.
– John Vickery
Sleeping Giant Society member
How to Name the YVCF in Your Will or Trust
When filling out your legacy gift forms and documents, please reference: “The Yampa Valley Community Foundation, located in Routt County, Colorado.” Our federal tax identification number is 84-0794536