Ways to Leave a Legacy

Leaving a Legacy

Planned gifts are made through estate plans.  The Boys & Girls Club of Vista Foundation was established in 1997 for this specific purpose. These donations help the Boys & Girls Club of Vista sustain and enhance its youth service programs, where no family is turned away.

A quick and easy way to leave a legacy is to designate assets to the Boys & Girls Club of Vista Foundation in your will/trust. To make a gift to the Boys & Girls Club from your estate, you must sign a new will or living trust instrument, add a codicil to your current will, or amend your present trust instrument.

This gift, a bequest, is exempt from estate taxes. If you have a taxable estate, the estate tax charitable deduction may eliminate estate taxes, possibly resulting in a larger inheritance for your family. Create a will in about 20 minutes at no cost HERE

Whether you include a bequest to Boys & Girls Club or another organization, it is vital to create a will for the security of your loved ones. If you do plan to include us in a bequest, please include the following information:

Boys and Girls Club of Vista Foundation, Inc. Tax I.D. Number: 95-3376683, 410 W. California Ave., Vista, CA 92083.

Create a Charitable Trust

Trusts that benefit the Boys & Girls Club of Vista Foundation can be established during a donor’s lifetime or at death. Below are two standard options:

Charitable Remainder Trust: This trust generates income for beneficiaries and an income tax deduction for the donor. When the trust ends, principal moves over to the Boys & Girls Club of Vista Foundation.

Charitable Lead Trust: Through a CLT, the Boys & Girls Club of Vista Foundation receives income from the trust for a specified period, and the principal passes to heirs upon trust termination.

Give Insurance

The Boys & Girls Club of Vista Foundation can receive proceeds from a life insurance policy. Gifts may be revocable or irrevocable and can be affected through a Change of Beneficiary form obtained from one’s insurance provider.

Give Stock

Stock can also be gifted. This is a nice way to avoid getting taxed on the gains for the appreciated assets you donate and avoid taking money out of your bank account. Stock donations can be up to 20% more valuable than selling the stock and donating the proceeds, and most donors can claim a tax deduction for the stock‘s full value.

Give from an IRA

A Qualified Charitable Distribution (QCD) is a tax-efficient way for those 70 ½ or older to donate from their IRA, while also counting towards your annual required minimum distribution. These distributions count toward your Required Minimum Distribution, effectively lower your adjusted gross income, and can bring significant tax benefits.

Give Crypto

Donating cryptocurrency is a non-taxable event. Donors do not owe capital gains tax on the appreciated crypto donated and can typically deduct the donation’s fair market value on their taxes. This often makes Bitcoin, Ethereum and other cryptocurrency donations one of the most tax-efficient ways to support your favorite cause. If you want to learn more about how donating crypto can lower your taxes, check out thegivingblock.com/faq.

Planned GiftS

Bequest Language

Your attorney can help you include a bequest to the Boys & Girls Club of Vista Foundation in your estate plan. We have provided some basic bequest language to assist you and your attorney.

You can make a bequest to the Boys & Girls Club of Vista Foundation in several ways.

Specific Bequest. A specific bequest involves making a gift of a specific asset such as real estate, a car, other property or a gift for a specific dollar amount. For example, you may wish to leave your home or $25,000 to the Boys & Girls Clubs of Vista Foundation

Percentage Bequest. Another kind of specific bequest involves leaving a specific percentage of your overall estate to charity. For example, you may wish to leave 10% of your estate to the Boys & Girls Clubs of Vista Foundation,

Residual Bequest. A residual bequest is made from the balance of an estate after the will or trust has given away each of the specific bequests. A common residual bequest involves leaving a percentage of the residue of the estate to charity. For example, you may wish to leave 30% of the residue of your estate to the Boys & Girls Clubs of Vista Foundation

Contingent Bequest. A contingent bequest is made to charity only if the purpose of the primary bequest cannot be met. For example, you could leave specific property, such as a vacation home, to a relative. Still, the bequest language could provide that if the relative is not alive at the time of your death, the vacation home will go to the Boys & Girls Clubs of Vista Foundation.

If you are considering making an outright bequest to the Boys & Girls Club of Vista Foundation, we recommend the following language:

Bequest of a Specific Dollar Amount

I hereby give, devise, and bequeath _________ and No/100 dollars ($DOLLARS) to the Boys & Girls Club of Vista Foundation, a nonprofit organization located at 410 W. California Ave., Vista, CA 92083. Federal Tax ID #95-3376683, for Boys & Girls Club of Vista’s general use and purpose.

Bequest of Specific Personal Property

I hereby give, devise, and bequeath DESCRIPTION OF PROPERTY to the Boys & Girls Club of Vista Foundation, a nonprofit organization located at 410 W. California Ave., Vista, CA 92083. Federal Tax ID #95-3376683, for Boys & Girls Club of Vista’s general use and purpose.

Bequest of Specific Real Estate

I hereby give, devise, and bequeath all of the right, title and interest in and to the real estate located at ADDRESS OR DESCRIPTION OF PROPERTY to the Boys & Girls Club of Vista Foundation, a nonprofit organization located at 410 W. California Ave., Vista, CA 92083. Federal Tax ID #95-3376683, for Boys & Girls Club of Vista’s general use and purpose.

Percentage Bequest

If you are considering making a bequest of a percentage of your estate to the Boys & Girls Club of Vista Foundation, we recommend the following language:

I hereby give, devise, and bequeath ____ percent (___%) of my total estate, determined as of the date of my death, to the Boys & Girls Club of Vista Foundation, a nonprofit organization located at 410 W. California Ave., Vista, CA 92083. Federal Tax ID #95-3376683, for Boys & Girls Club of Vista’s general use and purpose.

Residual Bequest

I hereby give, devise, and bequeath to the Boys & Girls Club of Vista Foundation, a nonprofit organization located at 410 W. California Ave., Vista, CA 92083. Federal Tax ID #95-3376683, for Boys & Girls Club of Vista’s general use and purpose, ALL OR A PERCENTAGE of the rest, residue, and remainder of my estate to be used for general use and purpose.

Contingent Bequest

If (primary beneficiary) does not survive me, I hereby give, devise, and bequeath to the Boys & Girls Club of Vista Foundation, a nonprofit organization located at 410 W. California Ave., Vista, CA 92083. Federal Tax ID #95-3376683, for Boys & Girls Club of Vista’s general use and purpose.

To make a gift or for any questions, please contact us:

Boys & Girls Club of Vista Foundation

410 W. California Ave.

Vista, CA 92063

760-724-5715

admin@bgcvista.com