Bequests

A gift to The Heart Touch Project in your will or living trust allows you to retain your assets during your lifetime. This is the simplest planned gift to implement or change should you ever need the assets during your lifetime.

 

How it works:

You make The Heart Touch Project a beneficiary in your will or a designated beneficiary of your retirement plan, life insurance policy or another asset.

The Heart Touch Project receives your gift when your estate is settled.

 

The following information is intended to help you and your attorney in drafting a bequest.

 

Legal Name The Heart Touch Project

Address 3400 Airport Ave #42, Santa Monica, CA 90405

Tax ID # 95-4529022

Nonprofit Status Active and in good standing

 

Sample Language:

 

Unrestricted Gifts – A gift that can be used where the need is greatest.

 

I give, devise, and bequeath to The Heart Touch Project, Santa Monica, CA, (insert dollar amount) Dollars* to be used for its general purposes.

 

Residuary Bequest – Leaves any remainder after all other bequests have been paid.

 

I give, devise, and bequeath to The Heart Touch Project, Santa Monica, CA, (insert percentage amount) percent of the residue of my estate to be used for its general purposes.

 

Contingency Gift – Takes effect only if a primary intention can’t be met.

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Beneficiary Designation

 

A beneficiary designation is an easy way to specify the individuals and charities you want to support by specifying the percentage of the assets you want each beneficiary to receive. You could use this method when giving the following assets:

 

Retirement Assets

An alternative to a bequest gift to designate The Heart Touch Project as the beneficiary of your retirement assets. This method is as simple as filling out a new beneficiary form from your retirement plan administrator.

 

Life Insurance

To use your life insurance policy to make a gift, complete and return to the insurance company a form designating that The Heart Touch Project receives all or a portion of the benefit associated with your life insurance policy. You may also transfer ownership of the policy, which will result in an immediate income charitable deduction and potential tax savings in the year you make the gift.

 

Commercial Annuity Contracts

You can name The Heart Touch Project to receive all or part of the remaining value at the end of the annuitant’s lifetime by designating it as a beneficiary on the appropriate form from the insurance company. 

 

Bank Accounts

To direct all or portion of what remains in a checking or savings account to The Heart Touch Project, you can fill out the appropriate beneficiary designation form provided by your bank.

 

Investment Accounts

You can direct your investment company to transfer to The Heart Touch Project some or all investments held in your account. Please check with your broker or agent to find out more about the process of doing this.