Equine Advocates’ Planned Giving Program
Thank you for considering Equine Advocates as part of your charitable gift plans. Whether it be an outright gift of cash or securities, or part of your estate planning—Wills, Life Insurance, Donations of Property While Retaining a Life Estate—we are truly appreciative to you for your generosity and strong belief in our Organization.
Equine Advocates’ Planned Giving Program offers a variety of ways to support us, while still providing for your loved ones in the future. Many of these options may also provide tax benefits to you and your family.
Your gift will create a legacy that reflects your compassion and concern for the protection and welfare of America’s equines and will benefit the care of the rescued equines at our Sanctuary, as well as help us assist other equines in jeopardy.
One of the most common misconceptions around estate planning is that it is something that only wealthy people do. However, no charitable gift is too small and taking action now allows you to make a contribution to the future while performing a meaningful act of charity in your lifetime.
Below please find several of the Planned Giving options we offer.
Gifts of Cash
There are several ways to donate – please see options here.
Gifts of Securities (Stocks/Bonds)
You can donate securities—stocks or bonds—to Equine Advocates and save on taxes with your charitable gift. Once Equine Advocates receives your transfer of assets, we will sell the securities and use the proceeds for our programs.
In general, donors of securities are eligible for a tax deduction in the amount of the fair market value of the security on the date of transfer no matter what was paid for them and you pay no capital gains tax on securities that are donated. We recommend consulting with your tax advisor prior to initiating a gift of securities to discuss the specific tax implications of the transfer.
If you wish to make a gift of securities, please contact us at 518-245-1599 or [email protected] to notify us of your plan. You will then need to instruct your financial advisor to transfer the desired assets to Equine Advocates’ brokerage account:
Wells Fargo Advisors Account through clearing agent, First Clearing Corp.
Account Name: Equine Advocates
DTC Number: 0141
Account Number: 5625-4443
The above information pertaining to Gifts of Securities is intended for general information. Equine Advocates are not attorneys and this information is no substitute for the advice of a licensed attorney in your state.
ESTATE PLANNING GIFTS
When you decide to leave assets to Equine Advocates in your Will, you are making a Bequest. Your estate will qualify for a charitable estate tax deduction on a federal basis (and may also be exempt from state estate taxes), and you will leave a lasting legacy that represents your belief in and support of our Organization. Generally, you can bequeath a specific amount of money in your Will, or the remainder of, or a percentage of the remainder of your estate, after other obligations are met.
- Making a Bequest to Equine Advocates is not irrevocable. You can change the allocation as your circumstances change.
- Assets included in a Bequest can also include property, such as real estate or vehicles.
- If you are not sure how much to donate because you want to be certain that your family is taken care of financially, making a Bequest of a percentage of your estate might be a good option for you.
- No Bequest is too small.
Making a Bequest is generally a simple process. Below is some sample language to include in your Will. You will need to include our legal name and Tax ID number which is provided below:
“I hereby give, devise and bequeath to
Equine Advocates, Inc.
PO Box 354
Chatham, NY 12037-0354
Tax ID: 11-3313534
the sum of $_____________ ;
OR the rest and residue of my Estate;
OR _____ % of the rest and residue of my Estate.
Gifts of Life Insurance
Gifts of Life Insurance are a great way to leave a substantial gift to Equine Advocates without using capital.
While most individuals buy Life Insurance to ensure that loved ones are taken care of, more and more people are buying Life Insurance for their favorite charity or designating an existing policy that is not otherwise needed for loved ones to the charity.
- Name Equine Advocates as the Owner and Beneficiary of a new or existing Life Insurance Policy
In this case, you would make annual donations to Equine Advocates equal to the premium payments. These contributions are fully tax deductible. When the policy matures, the proceeds would be paid to Equine Advocates.
- Name Equine Advocates as a Beneficiary or Co-Beneficiary of a new or existing Life Insurance Policy
In this case, you would hold the policy and Equine Advocates would receive the benefits upon your death. In general, your estate would receive a charitable deduction for the amount of the proceeds.
The above information pertaining to Gifts of Life Insurance is intended for general information. Equine Advocates are not attorneys and this information is no substitute for the advice of a licensed attorney in your state. Please consult with your tax advisor and/or your attorney to answer questions to your specific circumstances.
Donating Property While Retaining a Life Estate
(Living Real Estate)
When donating property while retaining a life estate, your gift of your personal residence or farm to Equine Advocates means that you still retain the right to live at the property for the remainder of your life. You will receive an immediate income tax deduction for a portion of the appraised value of the property, and it is removed from your estate for tax purposes. Upon your death, Equine Advocates can use or sell the property.
- Deeding your property to Equine Advocates is an irrevocable gift, which is why you are able to receive tax benefits during your lifetime.
- You will continue to pay real estate taxes on this property for the remainder of your lifetime.
- The income tax deduction you will be eligible for depends on your life expectancy (based on actuarial tables) and the appraised value of the property.
- In some cases where farm property is involved, Equine Advocates may begin using the property immediately.
The above information pertaining to Donating Property While Retaining a Life Estate is intended for general information. Equine Advocates are not attorneys and this information is no substitute for the advice of a licensed attorney in your state. Please consult with your tax advisor and/or your attorney to answer questions to your specific circumstances.
Donate Property Outright
If you wish to donate property outright, please contact us at [email protected] or call us at 518.245.1599.
Equine Advocates are not attorneys and this information is no substitute for the advice of a licensed attorney in your state.
If you wish to discuss these or any other options, such as Gift Annuities & Trusts, please do not hesitate to contact us at 518.245.1599.
As always, we thank you for your support and commitment to our cause.
The information provided throughout this section is intended for general information. Equine Advocates are not attorneys and this information is no substitute for the advice of a licensed attorney in your state. Please consult with your tax advisor and/or your attorney to answer questions to your specific circumstances.