A bequest could be the most powerful charitable gift you make.
Our Legacy Society – a circle of friends that have made an enduring gift through a bequest or trust – helps us plan for a stronger future and celebrates donors who extend their community impact beyond their lifetimes.
As you reflect on the legacy you will leave behind, consider the many ways you can preserve your estate for your family and continue building strong, thriving neighborhoods here in Pierce County for decades to come.
A bequest in your will or living trust, leaving Habitat a percentage of an asset or a specific amount. Here are some common types of bequests to consider:
- Residual bequest – A percentage of the remainder of your estate after other specific legacies have been fulfilled.
- Specific bequest – A specific dollar amount, stated fraction of your estate or specified gift-in-kind such as collections, art, books, jewelry, etc.
- Contingent bequest – A gift that is originally intended for other beneficiaries but, in the event of their prior passing, is redirected as a charitable donation.
Download this document for sample language to include in your will.
You can make a beneficiary designation in support of Tacoma/Pierce County Habitat for Humanity. To do so, contact the firm that holds your assets and complete a beneficiary form.
The following are some common assets for this type of gift:
- Retirement funds gift – You can reduce or even eliminate tax liabilities on your retirement plan by naming Tacoma/Pierce County Habitat for Humanity as direct beneficiary. The entire amount of your IRA, 401(k) or other retirement accounts may be taxed if you leave them to your heirs. Instead, consider giving them less tax-burdened assets like real estate and stock, and use retirement assets to create your legacy gift with Habitat.
- Life insurance policy gift – If you have a life insurance policy that has outlasted its original purpose, you can use it to fund a legacy gift while enjoying tax savings during your lifetime.
- Savings bonds – When you redeem savings bonds, you (or the person to whom you leave your bonds) will owe income tax on the appreciation. Since Tacoma/Pierce County Habitat for Humanity is tax-exempt, 100 percent of your gift of savings bonds will support our mission to bring people together to build homes and strong communities.
- CDs, bank accounts and brokerage accounts – Naming Tacoma/Pierce County Habitat for Humanity as the beneficiary of a certificate of deposit, a checking or savings bank account, or a brokerage account is one of the easiest ways to positively impact our homeowner families.
- Donor-advised fund residuals – Final distribution of contributions remaining in a donor-advised fund is governed by the contract you completed when you created your fund. Please consider naming Tacoma/Pierce County Habitat for Humanity as a successor of your account or a portion of your account value.
There are many options within the category of real estate. You can donate appreciated real estate, such as a home, vacation property, undeveloped land, or commercial property.
You can make this generous gift while still using the property throughout your lifetime, and you may even receive a tax deduction for your gift.
A Charitable Gift Annuity, creates a fixed income for your or a loved one’s remaining lifetime.
This plan allows you to give a substantial donation to Tacoma/Pierce County Habitat for Humanity while receiving tax-favored income for life. Charitable gift annuities offer attractive payout rates for those who want to receive income and provide families the opportunity to become self-reliant through safe, affordable housing.
You can receive income for life and reduce your taxes while supporting Tacoma/Pierce County Habitat for Humanity by transferring assets to fund the trust. Not only does this pay income to you or your beneficiaries for life, but you also receive an income tax deduction the year you transfer assets to the trust.
The remaining portion of the trust, after all payments have been made, goes to Tacoma/Pierce County Habitat for Humanity.
A Charitable Lead Trust pays income to one or more charitable organizations, typically for a set period of time, and then the remaining assets of the trust pass to non-charitable beneficiaries, such as family members.
We encourage you to contact your financial adviser, attorney or accountant prior to making or structuring a planned gift in order to consider the best options for you and your unique situation.
If you have already made arrangements for a planned gift or will do so in the future, please let us know by completing this form and we will welcome you in to the Legacy Society.
We celebrate the generosity of Legacy Society members with the following:
- Exclusive updates from our CEO
- Invitations to workshops and seminars related to affordable housing and philanthropy
- Invitations to home dedications
- Recognition on our website (members can always opt to be anonymous)