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MAKE A BEQUEST
Many people support charitable organizations through future gifts from their estates. A Charitable Will Bequest is a direction in your Will that instructs your Executor to leave your selected assets to a charitable organization.
Leaving a bequest to the Coppell Historical Society can also have significant tax savings for your estate by reducing or eliminating your income tax liability of your death. A bequest is therefore a meaningful way to reduce your taxes and increase inheritances to your loved ones, while supporting causes which you feel are important.
As a registered charity, the Coppell Historical Society does accept bequests in all forms. If you have any questions or want more information than what is listed below, please feel free to contact us at [email protected].
Our Tax I.D. number is: 75-140214
Leaving a bequest to the Coppell Historical Society can also have significant tax savings for your estate by reducing or eliminating your income tax liability of your death. A bequest is therefore a meaningful way to reduce your taxes and increase inheritances to your loved ones, while supporting causes which you feel are important.
As a registered charity, the Coppell Historical Society does accept bequests in all forms. If you have any questions or want more information than what is listed below, please feel free to contact us at [email protected].
Our Tax I.D. number is: 75-140214
HOW TO MAKE A BEQUEST
John & Sarah Stringfellow
The Coppell Historical Society strongly recommends that you seek professional legal advice to ensure that your financial goals are considered, your tax situation is reviewed, and that your planned gift is tailored to your family circumstances. Consult with your lawyer or estate planner regarding the specific working of any bequest.
The following is some sample wording for your will or trust:
TYPES OF WILLS AND TESTAMENTS
The following is some sample wording for your will or trust:
- I give to the Coppell Historical Society (Tax ID: 75-140214) a non-profit 501 (c)(3) organization located in Coppell, TX , the sum of $________(OR____% of my estate OR the property described herein). The property comprising this gift may be used for its general support without restriction, at the discretion of its Board of Directors.
TYPES OF WILLS AND TESTAMENTS
- Percentage Bequest: A percentage of the donor’s estate is left to the Coppell Historical Society.
- Specific Bequest: A specific dollar amount is left to Coppell Historical Society.
- Property Bequest: An important object or real estate is left to the Coppell Historical Society.
- Charitable Lead and Remainder Trusts, IRAs, retirement plans etc. are left to the Coppell Historical Society.
George Coppell's son Arthur
YOUR IRA GIFT via Qualified Charitable Distribution (QCD)
As you plan your year-end giving, you may consider making a gift from your IRA directly to the Coppell Historical Society.
A Qualified Charitable Distribution (QCD) is an otherwise taxable distribution from an IRA (other than an ongoing SEP or SIMPLE IRA) owned by an individual who is age 70½ or over that is paid directly from the IRA to a qualified charity, such as the Coppell Historical Society
As you plan your year-end giving, you may consider making a gift from your IRA directly to the Coppell Historical Society.
A Qualified Charitable Distribution (QCD) is an otherwise taxable distribution from an IRA (other than an ongoing SEP or SIMPLE IRA) owned by an individual who is age 70½ or over that is paid directly from the IRA to a qualified charity, such as the Coppell Historical Society
- For those age 70½ or older, an IRA 'Charitable Rollover Gift' can help satisfy your required minimum distribution.
- For those age 70½ or older, an IRA 'Charitable Rollover Gift' can Reduce your taxable income, while furthering the work and Mission of the Coppell Historical Society.
- QCD gifts are required to come directly from your plan administrator to the Coppell Historical Society.
- Donor advised funds are excluded from receiving QCDs.
- Maximum IRA charitable rollover gift is $100,000 per year