Gifts from Wills and Trusts:
If you are creating or updating your estate plans and would like to include The Assistance League of Greater Portland, there are many options available to you.
Through a provision in your written and executed will, or trust, you can make a gift in the form of cash, securities, real estate or personal property. There are many types of bequests. Choose the one that best fits your needs and intentions.
When making a charitable gift to a nonprofit organization, it is vital that the charity’s legal name, address and other identifying details be used. To name ALGP in your will or trust, please use the following suggested language:
Residual Language
A residual bequest comes to us after your estate expenses and specific bequests are paid:
I give and devise to Assistance League of Greater Portland, 4000 SW 117th Ave, Beaverton, OR 97005 (EIN 93-6032769) all (or state a percentage) of the rest, residue and remainder of my estate, both real and personal, to be used for its general support (or for the support of a specific fund or program).
Specific Bequest Language
You can also name Assistance League of Greater Portland as a beneficiary of a specific amount from your estate:
I give and devise to Assistance League of Greater Portland, Beaverton, OR
(EIN 93-6032769) the sum of $ ________________________ (or __x_ shares of __________________ stock”) to be used for its general support (or for the support of a specific fund or program).
Contingent Bequest Language
Assistance of Greater Portland can be named as a contingent beneficiary in your will or personal trust if one or more of your specific bequests cannot be fulfilled:
If (insert individual heir’s name) is not living at the time of my demise, I give and devise Assistance League of Greater Portland, Beaverton, OR (EIN 93-6032769) the sum of $ ______ (or “all” or ” _____ percentage of the residue of my estate”) to be used for its general support (or for the support of a specific fund or program).
Gifts Through a Donor Advised Fund
The benefits of using a Donor Advised Fund are strong and, with the new tax laws, are expected to grow in appeal to strategic donors. You can also create a legacy by naming the Assistance League of Greater Portland the beneficiary of the Fund entire account or a percentage of the fund’s. With a percentage, you can create a family legacy of giving by naming your loved ones as your successor to continue recommending grants to charitable organizations. Contact your fund administrator for a beneficiary form.
How does it work?
By naming the Assistance League of Greater Portland as a beneficiary of your donor-advised fund, you will ensure that your philanthropy continues.
You can update your beneficiary designation by contacting your financial institution (and in some cases, your community organization) and requesting the appropriate paperwork. In this way, you are ensuring that when the DAF ceases to have an advisor, the assets in the account get transferred to Assistance League of Greater Portland. We encourage you to inform ALGP of your intentions so we can thank you and discuss how you want your gift to be used.
Beneficiary of Retirement funds
You can include ALGP as part of your legacy by naming the organization as the beneficiary of all or a portion of a retirement account or other asset plans. Tax-deferred retirement plans can make excellent charitable gifts. If you designate that all or a part of your retirement plan goes to the Assistance League of Greater Portland, the amount of this gift is included in your taxable estate but is fully deductible as a charitable gift.
Generally, the full amount of your gift made through a beneficiary designation can be received by ALGP and used for charitable purposes with no income tax due. The same asset, if left in your estate and not given to charity, may be subject to both income and estate taxes. Non-retirement assets are the least susceptible to taxation and are often better assets to leave to family members.
The process is simple: just contact your IRA administrator to update your beneficiary designation form. You have the reassurance that you can continue to take withdrawals from your plan during your lifetime, and you can change your designation if your circumstances change.