Planned gifts benefit Ford’s Theatre Society and provide the donor with an opportunity to create a lasting legacy for future generations while maximizing the tax benefits of a donation.
A bequest is one of the simplest ways to provide for the future of Ford’s Theatre. Many donors are able to make significant gifts of cash or other property through their wills. A bequest to the Ford’s Theatre Society is deductible against estate and inheritance taxes. Advance planning can minimize these taxes and preserve more of the estate.
Residual Bequest Language
A residual bequest comes to us after your estate expenses and specific bequests are paid.
“I give and devise to Ford’s Theatre Society, located in Washington, D.C., 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 affiliate, fund or program).”
Specific Bequest Language
Naming Ford’s Theatre Society as a beneficiary of a specific amount from your estate is easy.
“I give and devise to Ford’s Theatre Society, located in Washington, D.C., the sum of $___________ to be used for its general support (or for the support of a specific affiliate, fund or program).”
Contingent Bequest Language
Ford’s Theatre Society 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 name) is not living at the time of my demise, I give and devise to Ford’s Theatre Society, the sum of $ _______ (or all or a percentage of the residue of my estate) to be used for its general support (or for the support of a specific affiliate, fund or program).”
Retirement and Pension Plan Assets
Donors can make a charitable gift using retirement assets, by naming Ford’s Theatre as a beneficiary.
Life Insurance Policies
Making Ford’s Theatre Society the beneficiary of a new or existing life insurance policy is another way to make a significant gift without tying up current assets.
Charitable Remainder Trusts
Charitable remainder trusts allow you to make a gift to Ford’s Theatre Society and at the same time retain a benefit from the assets you give.
Charitable Lead Trusts
A charitable lead trust is the reverse of a charitable remainder trust; the gift to Ford’s Theatre Society is the income stream from the trust, not the remainder.
A gift of real estate can be an attractive way to support Ford’s Theatre and to realize tax and income benefits at the same time. It can also be a valuable asset when used to fund either a charitable remainder trust or a charitable lead trust.
Ford’s Theatre Society does not intend for the any of the above examples to be construed in any way as either legal or financial advice. Ford’s Theatre Society strongly recommends that you consult your financial and/or tax advisor.
For more information on leaving a legacy to Ford’s Theatre, please contact Betsy O’Brien Anderson, Director of Development, at (202) 434-9552 or via email. Donors who notify Ford’s Theatre of an intended planned gift are eligible for special recognition.
Photo by Maxwell MacKenzie.