Including a gift in your will for animal shelters is a compassionate and impactful way to ensure that your love for animals continues to make a difference even after you’re gone. By leaving a legacy for these organizations, you provide essential support for the care, shelter, and rehabilitation of countless animals in need.
Understanding the importance of legacy gifts
Legacy gifts, also known as bequests, are donations made through a will or estate plan. These gifts are vital for animal shelters as they often rely heavily on donations to fund their operations. Legacy gifts provide a stable and predictable source of income, enabling ROLDA to plan for the future and continue their critical work. Whether it’s providing medical care, food, or a safe haven for abandoned and abused animals, your gift can ensure that shelters have the resources needed to sustain their efforts. By including a bequest in your will, you are helping to secure the future of these organizations and the animals they serve.
Types of gifts you can leave
There are several types of gifts you can leave in your will to support animal shelters. The most common type is a residuary bequest, which designates a percentage of the remainder of your estate after other specific bequests and expenses have been paid. Another option is a pecuniary bequest, which specifies a fixed amount of money. You can also leave a specific bequest, which involves donating particular items such as stocks, real estate, or personal property. Each type of gift has its own benefits and can be tailored to fit your personal circumstances and charitable goals. Consulting with a legal advisor can help you determine which type of gift is best suited for your situation.
How to include a gift in your will
Including a gift in your will for an animal shelter is a straightforward process, but it’s important to ensure that your wishes are clearly documented. Start by deciding the type and amount of the gift you want to leave. Then, you will need to include specific wording in your will to make your intentions clear. For example, you might state, “I give [specific amount or percentage] to [name of animal shelter], located at [address], for its general purposes.” It is crucial to use the correct legal name and address of the shelter to avoid any confusion. If you are unsure about the wording or the process, it is advisable to consult with an attorney who specializes in estate planning to ensure that your bequest is legally sound.
Informing the beneficiary
Once you have included a gift in your will for an animal shelter, it’s a good idea to inform the organization about your planned bequest. While this is not legally required, it allows the shelter to acknowledge your generosity and include you in any legacy societies or recognition programs they may have. Additionally, informing the shelter helps ensure that your gift will be used according to your wishes and allows the organization to plan for future funding. Many shelters have dedicated staff who can assist you with the process and provide information about how your gift will make an impact. Communicating with the beneficiary can provide you with peace of mind knowing that your legacy will be honored and appreciated.
Reviewing and updating your will
Life circumstances can change, and it’s important to review your will periodically to ensure that it reflects your current wishes and financial situation. Major life events such as marriage, divorce, the birth of a child, or significant changes in your assets might necessitate updates to your estate plan. Regularly reviewing and updating your will ensures that your bequests remain relevant and that your legacy is preserved as intended. If you decide to change the amount or type of gift you are leaving to an animal shelter, you can do so by amending your will through a codicil or by creating a new will. Working with an estate planning attorney can help you navigate these changes and keep your estate plan up to date.
Leaving a gift in your will for animal shelters is a meaningful way to support the causes you care about and create a lasting legacy. By understanding the types of gifts available, including the appropriate wording in your will, and communicating with the beneficiary, you can ensure that your contribution will make a significant impact. Regularly reviewing your estate plan will help maintain the relevance and effectiveness of your bequests. Through your thoughtful planning and generosity, you can help provide a better future for countless animals in need, making your love for animals a permanent part of your legacy.
