Leaving a Legacy :: Pebbles

Pebbles :: You can be the pebble in the pond

September 2009 Volume 1, Issue 3 :: A Quarterly Publication of the Amputee Coalition

Shouldn’t the things you care about today be the things you leave for future generations tomorrow? Peer support and advocacy, knowledge resources and youth programming are all part of the Amputee Coalition’s work to support the limb loss community.

Financial work For almost 25 years, the Amputee Coalition has been working to safeguard amputee rights and to pursue amputee support, knowledge and freedoms. Leaving a legacy gift by including the Amputee Coalition in your will or estate plans honors your commitment to supporting the future stability and enrichment of the limb loss community.

While most gifts to the Amputee Coalition come in the form of cash via check or credit card, many have found that time spent considering what to give as well as when and how to structure their contributions can help them make more meaningful gifts while meeting personal planning goals as well.

Planned giving is an ideal way to do just that, making arrangements to leave a gift to the Amputee Coalition years down the road and leaving a legacy to support the limb loss community without putting yourself in financial straits right now.

Plus, as Kendra Calhoun puts it, planning ahead is a good move no matter how big your estate or what you feel called to donate.

Signing Last Will and Testament “If you don’t make plans, someone else will decide what happens to your money and your things (upon your death),” says Calhoun, who is president and CEO of Amputee Coalition and who works with many of Amputee Coalition’s major gift donors. “What I find in talking with people about giving is that they would much rather choose those things than let someone who doesn’t really know their hearts do it.”

Though leaving the Amputee Coalition in your will – whether you leave the entire estate, a percentage or certain assets – is the first thing associated with planned gifts, Calhoun says there are actually several options for those wanting to make a legacy gift in the future.

Below is a quick glance at the various options available to donors. Though not all the details are provided, the development office of Amputee Coalition will be glad to visit with you individually about your situation and which option might be best for you in terms of financial security and tax benefits.

Provision by Will – The easiest of the options, leaving parts or all of your estate to Amputee Coalition, is as simple as adding a statement to your will to that effect. Make sure you designate an exact dollar figure or percentage and be specific if willing property or other assets to the Amputee Coalition. Gifts may be designated to a special project or given for the general use of the coalition.
Charitable Remainder Annuity Trust – This involves donating assets that provide income to the Amputee Coalition but retaining regular income payments for the donor for the life of the trust. Once the trust is terminated, the Amputee Coalition retains full rights to the asset. This typically results in a large savings of capital gains taxes for stocks and other assets whose value has appreciated significantly over the years.
Charitable Remainder Unitrust – Similar to the annuity trust, the unitrust bases the income payments on the net fair market value of the asset as it is determined annually. The donors receive an initial tax deduction on the gift and possible federal estate tax savings down the road
Gift Annuity Agreement – In this scenario, a gift is made to the Amputee Coalition and regular payments made to the donors are based on their life expectancy. The tax savings vary as the donor ages and payments are partially tax-free for a period of time. The Amputee Coalition may use the gift excluding the amount necessary to make annuity payments.
Retirement Plans – The donors simply name the Amputee Coalition as partial or full beneficiary to a retirement plan and at their death, the plan is transferred to Amputee Coalition. The donors can use what they need of the retirement funds during their lifetime.
Charitable Lead Trust – This plan involves regular payments to a charity from a trust developed by a donor, and the donor pays no taxes on that income since it is transferred to the Amputee Coalition. The tax benefit comes in the form of gift or estate tax deductions, and the trust can be left to the donor’s heirs.
Revocable Living Trust – Donors establish a trust with regular payments made to them, another person or the Amputee Coalition, with the option that all or part of the benefits may be redirected during their lifetime. If the assets pass to the charity upon their death, the delay and costs of probate are avoided and the gift is free from the possible estate taxes incurred.

Couple sitting with financial planner Planned gifts require donors to evaluate their assets and lifetime expense needs and determine which scenario would best work for them and allow them to make charitable contributions to the Amputee Coalition. Calhoun says that planning ahead is also helpful to the Amputee Coalition in the future.

“It helps the Amputee Coalition know there are plans in place for its future security," she says. "If they’ve included us, it shows they believe in us and our work. That makes me want to work harder and maintain high standards for donors who are investing in the future of the Amputee Coalition and its mission to serve the amputee community.”

Pebbles is partially supported by cooperative agreement #5U59DD000347 from the National Center on Birth Defects and Disabilities, Centers for Disease Control and Prevention (CDC). Its contents are solely the responsibility of the authors and do not necessarily represent the official views of the CDC, the sponsoring organizations, or the Amputee Coalition. It is not the intention of the Amputee Coalition to provide specific medical advice but rather to provide readers with information to better understand their health and healthcare issues. The Amputee Coalition does not endorse any specific treatment, technology, company or device. Consumers are urged to consult with their healthcare providers for specific medical advice or before making any purchasing decisions involving their care. No funding from the CDC is used to support Amputee Coalition advocacy efforts. ©2009 by Amputee Coalition; all rights reserved. This publication may not be reproduced in whole or in part without written permission of the Amputee Coalition.

All trademarks and service marks contained herein are property of their respective owners.
The Amputee Coalition never sells member information, including e-mail addresses, to third parties.

Last updated: 05/01/2012

*This Web site is partially supported by the Centers for Disease Control and Prevention (CDC). Its contents are solely the responsibility of the authors and do not necessarily represent the official views of the CDC, the sponsoring organizations, or the Amputee Coalition. No funding from the CDC is used to support Amputee Coalition advocacy efforts.