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Giving to Unbound through your estate

Legacy gifts — life insurance, wills, trusts and retirement accounts

Estate or legacy gifts are contributions designated to a charitable organization that become effective after the donor's death. No other planned gift is as simple to implement or as easy to change. You maintain the use and control of your assets for as long as you need them during your lifetime.

Life insurance

When you name Unbound as the beneficiary of a life insurance policy, you can provide a lasting gift at a minimum cost to you. If you own a paid-up policy you no longer need, you can transfer beneficiary status and ownership to Unbound and, in most cases receive a charitable tax deduction. Or you may purchase a new policy and name Unbound as the owner and/or beneficiary.

If you have questions or need additional information about naming Unbound as beneficiary of a life insurance policy, please contact us and we will be happy to assist you. Should you choose to include Unbound in your estate plan, please notify us. Your courtesy notification will allow us to express our gratitude and update our files with the intended use of your donation.

Download PDF  How to make a charitable gift with life insurance


Wills and trusts

Remembering Unbound in your will or trust ensures that your concern and support for families living in poverty continues while creating a lasting legacy for someone you care about—your sponsored friend.

Many of our sponsors and donors have requested sample language to be used in their will or trust to provide ongoing benefits for their sponsored friends and to support the work of Unbound. Sample bequest language and more information are included in the link below.

If you have questions or need additional information about remembering Unbound in your will or trust, please contact us and we will be happy to assist you. Should you choose to include Unbound in your estate plan, please notify us. Your courtesy notification will allow us to express our gratitude and update our files with the intended use of your donation.

Download PDF How to include Unbound in your will or trust


Retirement accounts

Naming Unbound as beneficiary of your retirement account can provide ongoing support for your sponsored friend and Unbound's work with families living in poverty, as well as provide a charitable estate tax deduction for your heirs.

Charitable gifts may be made through the beneficiary designations of retirement accounts such as a 401(k), 403(b), IRA, Keogh, deferred annuity and other tax-deferred investments. These assets are accumulated primarily on a pre-tax and/or tax-deferred basis, and they may be assigned at death by beneficiary designation to family members, other loved ones and charities such as Unbound.

Many donors are surprised to learn that assets accumulated in their retirement plans are among the most tax-burdened assets they own. As a result, all assets remaining in your retirement account directed by beneficiary designation to anyone other than your spouse will be subject to income taxes. This includes distributions to all other family members and loved ones.

A better option may be to name Unbound as a beneficiary of your retirement plan and designate other non-qualified assets from your estate as gifts to your heirs. This eliminates the income tax burden on the percentage share of retirement account assets assigned to Unbound, and it may provide a potential charitable estate tax deduction to your heirs on the full value of your gift.

If you have questions or need additional information, please contact us and we will be happy to assist you. Should you choose to include Unbound in your estate plan, please notify us. Your courtesy notification will allow us to express our gratitude and update our files with the intended use of your donation.

Download PDF  How to give from your retirement account(s) and other tax-deferred investments

Unbound is a 501(c) (3) non-profit corporation, federal EIN: 43-1243999. Contributions are tax-deductible as allowed by law, unless otherwise noted.

This page provides general information about gift planning and is not intended to provide individual financial, legal, or tax information or advice. Unbound recommends that you speak with a tax adviser, financial adviser or attorney about how to make charitable giving part of your overall financial plan.

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