Leave a Lasting Legacy
It's Important and Easier Than You think!
Give “what’s left.” After first providing for loved ones, you can devote all or a portion of the remainder of your estate to a charitable interest.
Give adjustable amounts. You can allocate designated percentages of your estate to loved ones and charitable interests. The amounts received are then automatically adjusted as the value of your estate changes.
Give a fixed amount or property. You can specify a dollar amount or a particular property to give. This option can make sense if you would like to ensure that heirs receive a certain property, or that they receive a fixed amount, before you leave any remaining assets elsewhere.
Life insurance and retirement plans. You can designate the Aspen Chapel as primary or contingent beneficiary for life insurance proceeds, IRAs, 401ks and other retirement accounts and annuities. Because retirement plans can be subject to more make charitable gifts from these accounts and provide for heirs from other sources.
Bank and investment accounts. In many states, it is possible to title one or more investment and bank accounts in such a way that whatever remains becomes a charitable gift that can also pass free of estate tax and outside of probate.
Structure your gift in a way that allows you to see your contribution at work. Discuss with your estate planning advisors more complex tools such as Charitable Lead Trusts or Charitable Remainder Trusts, that for example, can provide income to designated charities & tax deductions to you in your lifetime and leave residual to your estate, or income and tax deductions to you in your lifetime, and leave residual to designated charitable recipients such as the Aspen Chapel at your death.
Also, consider a deferred real estate gift, by which they could gift a piece of real estate to Aspen Chapel through a life estate deed. The asset would transfer fully and finally, only after their death, but could create valuable current income tax deductions based on the value of their retained life estate interest, as well as additional asset protection benefits. It can be a very compelling idea for many families that provides lifetime value and legacy value, with very little if any disruption to their current status quo, and it’s something that’s quite easy to implement.
Sample Bequest Language
“I give, devise and bequeath ___% percentage of my estate or $__________ fixed dollar amount to the Aspen Chapel, a 501 (c)3 qualified nonprofit organization, located in and existing under the laws of the State of Colorado, and with the principal business address of 0077 Meadowood Drive, Aspen, CO 81611. Tax identification number: 84-0609391. I would like to support the general operating fund through the Aspen Chapel Endowment Fund.”
Should you prefer to restrict your bequest to a particular program, the following language would be appropriate:
“I give devise and bequeath ___% percentage of my estate or $__________ fixed dollar amount to benefit the _____________ at the Aspen Chapel, a 501 (c)3 qualified nonprofit organization, located in and existing under the laws of the State of Colorado, and with the principal business address of 0077 Meadowood Drive, Aspen, CO 81611. Tax identification number: 84-0609391. This gift shall be used to support _____________ for so long as the Board of Trustees of the Aspen Chapel determines that the need exists. Should the need no longer exist, said Board of Trustees may, in its sole discretion, direct the use of my bequest for a purpose related as closely as possible to that stated above.”
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Please let us know if you plan to or have already included the Aspen Chapel in your estate plan so that we may welcome you to the Legacy Society of the Aspen Chapel, which recognizes friends who name the Chapel as a beneficiary of a current or future gift. If you wish to remain anonymous, you may of course do so and all inquiries remain strictly confidential. May we lovingly ask that you consider sharing this information with us, so that we may allow your decision and story to become a powerful example for others. Your act of generosity literally has the potential to influence others, and result in exponentially more support for Aspen Chapel. Please consider giving and leading in this way.
______ I have included the Aspen Chapel in my estate plan. Estimated value in today’s dollars is $_____________.
Name_______________________________
Phone_______________________________
Email_______________________________
____ List me as a Legacy Society Benefactor. ____ I wish to remain anonymous.
______ I plan to include the Aspen Chapel in my estate plan. Estimated value in today’s dollars is $_____________.
Name_______________________________
Phone_______________________________
Email_______________________________
____ List me as a Legacy Society Benefactor. ____ I wish to remain anonymous.
______ I would like to receive additional information about including the Aspen Chapel in my estate plan. Please contact me at:
Name_______________________________
Phone_______________________________
Email________________________________
Please complete & return this page to Barbara Owen, Legacy Society of the Aspen Chapel, 0077 Meadowood Drive, Aspen, CO 81611. info@aspenchapel.org, 970-925-7184.
Thank you very much for your consideration and contribution to the long term mission and vision of the Aspen Chapel.
Sincerely,
Legacy Society of the Aspen Chapel Committee
Virginia Newton
Barbara Owen
Ed Queenan
Steve Wickes
Click here to Download a printable copy.
The Aspen Chapel is a 501 (c)3 nonprofit organization, Tax ID # 84-0609391. Donations are tax-deductible to the extent allowed by the law.
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