Gifts That Cost You Nothing Now


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Gifts That Cost You Nothing Now

Did you know that with just your signature you can leave a lasting legacy for the ocean you love? There is no need to write a check now, you maintain control of your assets during your lifetime and you can change your beneficiaries at any time.

Your will or trust is the ultimate reflection of your values. It gives you the opportunity to provide for your loved ones and to create an ocean legacy for future generations. Bequests through a will or trust are one of the most common ways of making a legacy gift. Here are three types of bequests you may want to consider for making a gift to protect the ocean forever:

To leave the majority of funds to loved ones, name Ocean Conservancy the beneficiary of a specific amount or percentage of your estate.

To leave Ocean Conservancy what’s left after loved ones are provided for, use a residuary bequest.

To leave your estate to family and friends, unless you outlive one of your beneficiaries, use a contingent bequest. This is often used by spouses who stipulate that if the other spouse is not living, then the bequest specified for that spouse will go to Ocean Conservancy.

View Sample Bequest Language

Gifts by beneficiary designation allow you to make an impact for future generations by creating a legacy for our ocean. Along with bequests in a will or trust, they are among the easiest gifts to make. They do not require an estate plan or a visit to a lawyer, they cost you nothing now and you can change your beneficiaries at any time. Simply request a change of beneficiary form from your plan administrator and add Ocean Conservancy as a full or partial beneficiary.

Retirement Plan Savings: Since Ocean Conservancy is tax-exempt, making Ocean Conservancy, instead of heirs, a beneficiary of your retirement plan means that 100% of your gift passes to Ocean Conservancy. If these assets are given to a loved one, other than a spouse, income and possibly estate taxes may reduce the size of your gift.

A gift of retirement plan assets to Ocean Conservancy means that 100% of your gift passes to us with no deduction for taxes that would be levied if the assets are passed to a non-spousal heir.
Beneficiaries Your Heirs Ocean Conservancy
Gift Amount $100,000 $100,000
Income Tax* ($39,600) -0-
Net to Beneficiary $60,400 $100,000
*Based on 2014 maximum income tax rate of 39.6%.

Life Insurance: Give a life insurance policy a new purpose: ensuring a healthy ocean.

  • Transfer Ownership: You can donate your paid-up life insurance policy to Ocean Conservancy. By doing so, you may be entitled to a tax deduction.
  • Beneficiary Designation: You can name Ocean Conservancy as a primary or contingent beneficiary of your life insurance policy. The benefits from your policy will pass to us without incurring estate taxes.

CDs, Bank and Brokerage Accounts: One of the easiest ways you can ensure that a healthy and productive ocean will be there for future generations is by making Ocean Conservancy the beneficiary of a certificate of deposit or a bank or brokerage account.

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. We hope you will consider naming Ocean Conservancy a “successor” of your account. Or, you can name Ocean Conservancy the successor for a portion of the account value, leaving the remaining portion for your children or grandchildren.