People For Puget Sound’s Planned Giving Program

Creating a Family Legacy
People For Puget Sound’s Planned Giving Program is designed to assist members who wish to help build the long-term sustainability of the organization through bequests and other planned gifts. Educating potential donors about planned giving instruments appropriate for them is key to to the creation of a personal philanthropic legacy with an enduring benefit to People For Puget Sound. 

What is a planned gift?
Planned gifts include bequests, beneficiary designations of IRAs, qualified pension plans or insurance policies, or charitable trusts. Gifts can be unrestricted, without conditions as to their use, or restricted to a particular purpose. A planned gift usually requires the services of a professional to complete the gift arrangement.

Where a restricted gift may go
If you wish to designate your gift for a specific purpose, you may choose one of three established funds, or you may wish to discuss another option with People For Puget Sound:

• People For Puget Sound Endowment Fund: A fund that exists in perpetuity, the assets of which are invested by the organization. Generally, only the income can be expended. The principal remains untouched in perpetuity. You may identify your gift as an endowment, and can further restrict it for particular purposes.
• The Magnuson Puget Sound Legacy Fund: This endowment fund was established to honor Senator Warren G. Magnuson’s devotion to protecting Puget Sound. One of the uses of the income from the fund is to support internships for students pursuing careers in marine conservation.
•  Legal Defense Fund: This fund is used to support legal action to implement laws and policies to protect Puget Sound.
  

Estate Planning Steps
Estate planning is technical. Consult with an attorney, accountant or financial advisor to ensure that you use the planned gift vehicle that best fits your circumstances.

Keep your plan up to date
Life changes, so make sure to review your will, living trust or other financial documents periodically. A good time to update your plan is when a life event occurs, such as a marriage, divorce, birth or death, or when there are changes in tax law. The Washington State Bar Association has an excellent website that provides information regarding wills, along with an attorney referral list.

Gifts of Life Insurance
Life insurance is one way to make a gift to People For Puget Sound. You can purchase a new policy and make People For Puget Sound the owner and beneficiary. People For Puget Sound technically becomes responsible for premium payments, but you can cover the premium payments with tax-deductible contributions to People For Puget Sound. You may also make People For Puget Sound a beneficiary of an existing policy by simply updating a beneficiary form. Contact your life insurance company to do so.

Life Income Gifts
A Life Income Gift provides you and any designated beneficiary an income for life in exchange for your gift. This can be done in the form of a Charitable Remainder Trust.

Making People For Puget Sound a Beneficiary of Your Retirement Plan
You may name People For Puget Sound as a beneficiary of your retirement plan. There will likely be a tax advantage to doing this. To list People For Puget Sound as a beneficiary, contact your retirement plan administrator.

Gifts of Appreciated Assets: Stock/Real Estate
In addition to considering a bequest to People For Puget Sound, you may discover that you have assets that could be given outright to the organization now, possibly with the provision that you receive an income for life. You may have highly appreciated assets that do not provide much income but cost too much to sell because of capital gains tax. These may be given to People For Puget Sound without capital gains tax, provide income for one or two lives, and offer further tax advantages to you.

Donating an IRA
The Pension Protection Act of 2006 opened up powerful options for current IRA rollover gifts from individuals age 70 ½ and above. Contact your IRA custodian directly on how to make an IRA Charitable Rollover to People For Puget Sound.

Please let us know your plans
We hope you will choose to notify People For Puget Sound of your plans so that we may honor and recognize you if you desire. Of course, you always have the right to keep your generosity anonymous. We have included a handy form for your use. Once completed you can send it by email to people@pugetsound.org or post it to Director of Development, People For Puget Sound, 911 Western Ave. #580, Seattle, WA 98104. It is important that the proper legal name and address of People For Puget Sound be used when designating it as a recipient of your gift.

Whatever you decide, People For Puget Sound and its future members are grateful to you for your thoughtfulness and generosity. By planning a gift to the mission and vision of People For Puget Sound, you are creating a legacy for generations to come. We thank you.