The Future Fund
Plan today to help us keep making a difference tomorrow
The Future Fund allows you to help Pets on Wheels make a difference not just today, but far into the future, by making a legacy gift to help us continue to deliver the magic of our mission. Members of The Future Fund have all pledged to make a bequest from their estate to support our work for years to come.
There are many easy ways you can support us for a long time to come. Just click on the bold type for details on how to easily make your gift. Then, if you can, please let us know your intentions with this gift planning form so that we can acknowledge your support – you only need include as much detail as you are comfortable sharing, and you may always change your designations.
Designating a legacy gift is not a binding commitment. You can set up a gift now, and change your mind later and leave Pets on Wheels more, less, or nothing. You can always revise your will, or change the beneficiary on your accounts to someone other than Pets on Wheels. We understand and appreciate the importance you place on planning for your family’s future, but we do hope that you’ll also make a legacy gift that helps to ensure that the things that you value, such as Pets on Wheels, are sustained well into the future.
The mission of Pets on Wheels is truly magical, and we know that you understand that. We are incredibly fortunate to have people who support Pets on Wheels throughout their lives, volunteering, making donations and helping our pets help more people every day. Many of our supporters want to make even more of a difference, and we are honored to provide an opportunity to leave a lasting legacy by becoming a supporter of The Future Fund.
How to Include Pets on Wheels in your Will
You can make a gift to Pets on Wheels of a specific dollar amount, a percentage of your estate, specific personal property, or real property, either by adding some simple language to your will, or by signing a document that functions as an amendment to your will, called a “codicil.” While we encourage you to confer with your attorney or other personal advisors in connection with revising wills or drafting codicils, because they know your particular needs and circumstances, if you prefer, we can introduce you to an attorney who represents Pets on Wheels and can assist you free of charge.
How to name Pets on Wheels as the beneficiary of a bank account, investment account, IRA, or other retirement account.
Naming Pets on Wheels as a beneficiary of an account, whether it is a regular checking, savings, or money market account, investment account containing stocks or bonds, IRA, or other retirement account does not require attorneys, wills, or codicils. If your bank or other financial institution will allow you to make a “Payable on Death” (“POD”) or “Transfer on Death”(“TOD”) designation on an account, then, when you pass, if there are funds in the account, the bank will pay over those funds to the person(s) you designate. You can generally make this designation simply by completing and signing a short form the bank will provide you upon request. Simply ask the institution which holds the account for a beneficiary designation form, and designate Pets on Wheels, Inc, EIN #52-1657528, P.O. Box 44176, Baltimore MD 21236 as a beneficiary.
You can either designate Pets on Wheels as the primary beneficiary of the account assets which remain after you pass, or, if you prefer, you can name Pets on Wheels as a contingent beneficiary, which means that Pets on Wheels will receive the funds only if the spouse or other person you name as primary beneficiary has passed before you pass. Most institutions will allow you to designate multiple primary or contingent beneficiaries, if you wish to leave some, but not all, of the account assets to Pets on Wheels. In changing the POD or TOD beneficiary designation, you are not obligating yourself to leave money in the account for Pets on Wheels. You are simply instructing the bank as to how you want the funds distributed if you do happen to have money in the account when you pass. If you later decide you wish to change the beneficiary designation to someone other than Pets on Wheels, you can do so by filling out a new beneficiary designation form with your bank.
You may be able to reduce the taxes your estate and heirs must pay if you choose to leave to Pets on Wheels as an IRA or other retirement account. Generally, when a retirement account is left to a charity, the charity does not pay any income tax on any account assets which have increased in value, whereas your heirs may have to pay income tax if they inherit your retirement funds. Leaving to Pets on Wheels assets on which your heirs would pay tax, and leaving your heirs assets on which no taxes must be paid, may allow you to reduce the overall amount of tax owed by your estate and its heirs. Note, however, that Pets on Wheels cannot offer legal or tax advice. We encourage you to consult with your attorney, accountant, or other advisor if you have questions regarding the tax implications of your estate planning decisions.
How to Donate Life Insurance to Pets on Wheels
- You may name Pets on Wheels as a beneficiary of your life insurance policy. This is a gift that only takes effect when you pass, and you retain the right to change your mind later, and designate a different beneficiary. It is relatively simple to make a change to the beneficiary/beneficiaries of your insurance policy without changing your will or other aspects of your estate plan. Just ask your insurance company for a form that will allow you to designate Pets on Wheels, Inc, EIN #52-1657528, P.O. Box 44176, Baltimore MD 21236, as a beneficiary of your insurance policy. Bear in mind that some employers and credit unions provide life insurance policies as a benefit; if you have such a policy and it isn’t an important part of planning for your heirs’ future, consider naming Pets on Wheels as the beneficiary of such policies.
- If you have a policy on which all premiums have been paid and no future premiums will be due, you can, if you wish assign the ownership of that policy to Pets on Wheels now, rather than change the beneficiary designation. After the transfer, Pets on Wheels can elect to either cash in the policy right away, or keep the policy and receive the death benefit later. You could receive an immediate income tax deduction for this gift. The deduction is usually based upon the lower of the cash surrender value or your tax basis in the policy (cost). Please consult with your attorney, accountant, or other advisor to confirm the tax implications of the gift. Contact your insurance company for specifics on how to transfer ownership.
Link to: Donate
While you are not required to do so, Pets on Wheels would appreciate your completing and sending us this form, which will advise Pets on Wheels of your current intention to leave a legacy gift. Of course, you retain the right to change your mind at any time.
The contents of these pages are provided for informational purposes only, and is not intended as, and should not be construed as, legal or tax advice. Pets on Wheels, Inc. urges anyone considering the revision of a will, the drafting of a codicil to a will, or making a legacy gift in any other manner to consult with an attorney, accountant, or other advisors.
Link to: Donate
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