Ways To Give Later
Planned gifts are donations made to SamaraCare as part of your overall financial or estate plan created during your lifetime that will take effect at or after your passing. With a little forethought and planning you can make a significant gift to the organization without affecting your current lifestyle or your family’s security. To leave a lasting legacy to SamaraCare, please consider these planned giving options.
Bank Account Beneficiary Designation
- Payable on Death (P.O.D.) Accounts: You name SamaraCare as future beneficiary of a bank account, such as a checking, savings or money market account, Certificate of Deposit (CD) or US Savings Bond.
- Transfer on Death (T.O.D.) Accounts: You name SamaraCare as a future beneficiary of a non-retirement investment account, such as stocks, bonds, and brokerage accounts.
Retirement Plan Beneficiary Designation
You name SamaraCare as a future beneficiary in your IRA, 401(k), or 403(b) retirement plan.
Life Insurance
When the original purpose of owning a life insurance policy no longer applies, your policy can become a simple way to support our mission. There are two options to giving life insurance as a gift.
- Name SamaraCare as a beneficiary on a policy that you continue to own and pay for. You can designate us as the primary beneficiary for a percentage or specific amount. You can also name us as a contingent beneficiary so that we will receive the balance of your policy only if your primary beneficiary does not survive you.
- Transfer ownership of a paid-up policy to SamaraCare by naming us as the owner and beneficiary. You qualify for a federal income tax charitable deduction when you itemize your taxes.
Legacy Gifts (Bequests)
Gifts from a will or living trust are among the most common and most impactful planned gifts. You can name SamaraCare as a future beneficiary through your Will or Living Trust in which you designate a specific dollar amount or a percentage of your estate after other disbursements. Please use the following sample bequest language.
We recommend including the following bequest language in your will or trust for a General Bequest:
I give, devise and bequeath (a) the sum of $______ or (b) ___% of my residuary estate to SamaraCare, an Illinois nonprofit corporation, located in Naperville, IL (Federal Tax ID #36-2846570) to be used for its general use and purposed as the Board of Director of SamaraCare shall determine.
Some donors will make a Residuary Bequest, which allows you to leave all or a percentage of your estate after other gifts, debts taxes and estate expenses have been paid or a Contingency Bequest, which allows you to leave a portion of your estate to charitable interests if one or more named beneficiaries–spouse, family member, et al–do not survive you.
To accurately document a residuary or contingency bequest tailored to your needs, please consult a legal professional.
Charitable Remainder Trusts
You transfer cash or property to an irrevocable charitable trust. The trustee sells your property tax-free and provides you, or a second beneficiary, with a fixed (Annuity Trust) or variable (Unitrust) income for life or a set term. At the trust’s termination or upon death, the trust assets become a generous donation to SamaraCare.
Charitable Lead Trusts
You contribute property to an irrevocable trust. The trustee makes an annual income payment to SamaraCare for your lifetime or a set period of years. At the end of the term, the trust property is distributed back to you or to your heirs. This provides generous annual support to SamaraCare now, removes assets from your estate and passes an asset to heirs with little or no tax.
