A bequest to Belvedere-Tiburon Landmarks Society is a way of perpetuating a donor’s support for the role that the Landmarks Society plays in preserving the heritage of our community. It also enables a donor to make a major gift that might not otherwise be possible. Through a bequest, a donor may leave to the Landmarks Society a specific dollar amount, for example, $10,000; or may reserve for the Landmarks Society all or a certain percentage of the estate after provisions for family members and other beneficiaries have been made.
A bequest may also be made in honor or memory of another individual. In addition to cash and securities, bequests to the Landmarks Society may include real estate, ownership interests in businesses, securities, works of art, or patent rights.
All outright bequests to Landmarks Society are exempt from federal estate taxes, and there is no limitation on the size of the gift.
Suggested Forms of Bequests
When making or revising a will, a donor should obtain the assistance of an attorney. The following are suggested forms for making various types of bequests.
Outright bequest in will:
Specific dollar amount:
“I bequeath the sum of $______ to Belvedere-Tiburon Landmarks Society, Tiburon, CA, to be used or disposed of as its Board of Directors in its sole discretion deems appropriate.”
Specific property (personal property):
“I bequeath (DESCRIPTION OF PROPERTY) to Belvedere-Tiburon Landmarks Society, Tiburon, CA, to be used or disposed of as its Board of Trustees in its sole discretion deems appropriate.”
Specific property (real estate):
“I devise all of my right, title and interest in and to the real estate located at (DESCRIPTION OF PROPERTY) to Belvedere-Tiburon Landmarks Society, Tiburon, CA, to be used or disposed of as its Board of Trustees in its sole discretion deems appropriate.”
Share of, or entire residue, of estate:
“I devise and bequeath (all/or ______%) of the remainder of my property (DESCRIPTION OF PROPERTY) to Belvedere-Tiburon Landmarks Society, Tiburon, CA, to be used or disposed of as its Board of Trustees in its sole discretion deems appropriate.”
Conditional bequest in will:
Insert the conditional language in one or more of the above provisions. For example:
“If ______ does not survive me, I bequeath the sum of ______ to Belvedere-Tiburon Landmarks Society, to be used or disposed of as its Board of Trustees in its sole discretion deems appropriate.”
If the gift to Belvedere-Tiburon Landmarks Society is for a purpose other than Belvedere-Tiburon Landmarks Society’s unrestricted use, insert the restriction in place of the words “to be used or disposed of as its Board of Trustees in its sole discretion deems appropriate.” For example:
“I bequeath the sum of $______ to Belvedere-Tiburon Landmarks Society, Tiburon, CA, for the following use and purpose: (DESCRIPTION OF PURPOSE).”
In the event of a gift subject to a restriction, we suggest including the following provisions:
“If in the judgment of the Board of Trustees of Belvedere-Tiburon Landmarks Society, it becomes impossible to accomplish the purposes of this gift, the income or principal may be used for such related purposes and in such manner as determined by its Board of Trustees.”
CONTACT: Patty Flax, Executive Director, Landmarks Society, 1550 Tiburon Boulevard, Suite M, Tiburon, CA 94920 415-435-1853, or Brooke Halsey, Planned Giving Committee Chair 415 789 5119.
Or, send a message
Life Insurance Policies
Gifting an old or new whole life insurance policy with Landmarks as the beneficiary and owner offers you an immediate deduction for the premiums paid or the cash value of the policy at time of transfer, whichever is less. Gifts of insurance, like all other charitable gifts, pass to the Landmarks free of estate tax. For more information call Patty Flax at 415-435-1853 or use our contact form to send us a message.
Many people are unaware that IRA’s and other retirement plans make excellent charitable gifts. Most retirement plans generate significant tax consequences when passed to anyone other than a spouse at death. They are often significantly reduced by income tax and, in some cases, by estate tax. Donating all or a portion of a tax-vulnerable retirement plan to the Landmarks is a tax-wise strategy for giving to a good cause while taking less from those you love. The plan passes tax-free to Landmarks. For more information call Patty Flax at 415-435-1853 or use our contact form to send us a message.
Donor Advised Funds
Donor advised funds can be used to ease your end of year charitable contribution burden or may also be used as one of the vehicles for estate planning purposes.
Donor advised funds are funds that are managed on your behalf by a designated foundation. A fund can start with a minimum contribution of $10,000. This allows you to get started at low threshold, understand how the program works, and then, as appropriate, contribute more. Your role is that of an advisor (hence the name donor advised fund) deciding who you want to contribute to. The Donor Advised Fund must be operated exclusively for charitable purposes.
While most donors choose to make contributions by check or by contributing publicly traded securities, some donors make gifts of more complex assets. The larger fund managers, such as Marin Community Foundation or San Francisco Foundation can normally accept a wide array of these asset types. As always, you should consult with your legal, tax, and financial advisor(s) prior to making a contribution.
Why set up a Donor Advised Fund?
Donate now, decide later
A contribution to the fund separates the tax event from the grantmaking event. You can recommend grants to charities on your own timetable thus reducing year-end pressures to select one or more charities to support. At the end of each year, we regularly receive Foundation contributions that are automatically sent to The Landmarks Society.
Make the most of your charitable dollars
You can recommend the investment strategy for your Donor Advised Fund. Any growth in assets is tax-free which provides the future potential for greater charitable gifts. As you fund value grows, you will have more to donate!
From an estate planning standpoint, a donor advised fund can easily handle the transfer of funds to your designated charities as you have set up.
Leave a lasting legacy
Or if you decide, your family can continue involvement in grant making and investments by naming successor advisors to your account.
Reduce record keeping frustrations
A Donor Advised Fund account provides consolidated reporting and record keeping.
Landmarks is grateful to all who have designated Landmarks as one of your annual recipients and if you have questions about charitable contribution options at Landmarks please contact Patty Flax at 415-435-1853 or use our contact form to send us a message.
The FOUNDERS Fund was established in 2007 to enable the Landmarks to operate into perpetuity. A contribution designated to the Founders Fund—either a current gift or a bequest from your estate—is a wonderful way to make a lasting mark on your community. For more information call Patty Flax at 415-435-1853 or use our contact form to send us a message.
Designate us to receive your donation through campaigns conducted in your local workplace. Normally this occurs in the Bay Area counties between September and December of each year. You can designate the Landmarks through United Way campaign and others that your employer may be sponsoring. any of the following campaigns!
As well, there are a significant number of companies that offer MATCHING funds for their current or former employees gift giving. Please check to see if you company has an existing program or if you would like email us and we will check it out for you! Contact form.
Donate Real Estate
Call 435-1853 to speak with our Executive Director regarding real estate donations.