Did you know that you can leave a lasting legacy for the ocean you love with just your signature? 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.
Gifts in a Will
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. Gifts through a will or trust are one of the most common ways of making a legacy gift. Here are three types of gifts 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.
Gifts by Beneficiary Designation
Gifts by beneficiary designation 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.
Potential benefits of gifts by beneficiary designation:
Reduce or eliminate taxes on retirement assets
Reduce or avoid probate fees
No cost to you now to give
Create your legacy with Ocean Conservancy
How to Change a Beneficiary Designation:
Login to your account or request a Change of Beneficiary Form from your custodian (the business holding your money or assets).
Follow the links to change your beneficiary or fill out the form.
Be sure to spell the name of our organization properly:
Include our tax identification number: 23-7245152
Save or submit your information online or return your Change of Beneficiary Form.
A gift of retirement funds
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. This can be an attractive option for creating your ocean legacy while reducing income and possibly estate taxes for your loved ones.
|Beneficiaries||Your Heirs||Ocean Conservancy|
|Net to Beneficiary||$63,000||$100,000|
|*Based on 2018 maximum income tax rate of 37%.|
A gift of 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.
A gift of funds remaining in your bank accounts, brokerage accounts or certificate of deposit (CD)
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 (DAF) 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.
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The content found on this site is general in nature and intended to be used for informational purposes only. It should not be relied upon as legal, tax, accounting or other professional advice. To determine how a gift or estate planning decision might affect your particular circumstances, it is expressly recommended that you consult an attorney, financial advisor or other qualified professional.