How to Remember the SSRA in your Estate Planning
An essential part of the estate planning process is deciding how to distribute savings, investments, real estate, or personal property using your Last Will and Testament. One of your goals may be to divide your assets to include a charity or non-profit organization. This form of donation is known as an endowment, legacy gift, or planned giving. Setting up a legacy gift for the benefit of the Superficial Siderosis Research Alliance is a good way for you to leave both a personal legacy and support a cause that has meaning to you. There are many options for planned giving, so knowing what assets you can bequeath to charity and what type of donation will suit your financial position is advantageous.
Legacy gifts allow an opportunity for ordinary supporters to make truly extraordinary philanthropic gifts.
To lower your tax burden during your lifetime, you can purchase a life insurance policy with the SSRA as the beneficiary and claim the annual cost as a charitable donation
Estate Planning Options
You have many options for planned giving, so your instructions must be clear, so your gift decisions are correctly carried out. The most common types of legacy gifts are:
- General Gift: a specific amount of money or percentage of your estate
- Residuary gift: any remaining assets after all other requests have been fulfilled
- Specific gift: the donation of a particular item, such as furniture or a vehicle
- Contingent gift: a donation based on certain conditions being met, such as your main beneficiary passing away before you
Sample Wording
A Legacy Research Gift in Support of the Superficial Siderosis Research Alliance
“I give to the Superficial Siderosis Research Alliance (SSRA) ______________________ (percentage of estate or specific amount). I direct this money to be used to support ongoing research projects at the time of my death. I further direct that once these ongoing projects sponsored by me at the time of my death have been completed, any funds remaining in this bequest be used to advance the work of the Superficial Siderosis Research Alliance (SSRA).”
Specific Legacy Gift to the Superficial Siderosis Research Alliance
a) “My Executor / Trustee shall transfer to the Superficial Siderosis Research Alliance (SSRA) the sum of $____ to be used to advance the work of the organization.”
b) “My Executor / Trustee shall transfer to he Superficial Siderosis Research Alliance (SSRA) _____ shares of ______ to be used to advance the work of the organization.”
Rest and Residue of Estate
“My Executor / Trustee shall transfer to the Superficial Siderosis Research Alliance (SSRA) all [or ___%] of the rest, residue and remainder of my estate after paying all debts, taxes, expenses and specific bequests. to advance the work of the organization.”
Legal Name
Superficial Siderosis Research Alliance, Inc. N28W24389 Single Tree Ct. Pewaukee, WI 53072
Federal Tax ID
84-2515094